The latest numbers on student loans were all too familiar: Outstanding debt hit another record and delinquency rates spiked in the third quarter, according to Federal Reserve data.
What has changed, however, is who is doing the lending. Five years ago, big banks like JPMorgan Chase & Co. and Bank of America were players in the student loan business.
Today, the government now makes about 90% of all student loans. Financial institutions in the S&P 500 have sliced their loans by $22.5 billion, or 35 percent, in the five years since 2013.
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