The Trump administration is retaining the consulting firm McKinsey to assess the federal student loan portfolio as the government weighs selling off some of the debt to private investors, The Wall Street Journal reports
Washington The Trump administration is retaining the consulting firm McKinsey to assess the federal student loan portfolio as the government weighs selling off some of the debt to private investors, The Wall Street Journal reported Wednesday.
A sale is just one of several options the White House is considering to address potential losses on student debt, the paper reported, citing administration officials familiar with the matter. As the price of college has surged, the federal student loan program has grown to nearly $1.5 trillion. Outstanding student loans now top both credit card and mortgage debt -- raising concerns about whether the Department of Education has the capacity to handle such a large loan portfolio.
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