No. That's wrong. This is like the third time I've tried to correct you. The government was making $1.22 on the dollar for DEFAULTED FFELP LOANS. The government has been booking at least $50 Billion/year on the federal student loan portfolio since 2010. Certainly far more than that in recent years. Get it straight, please.

NOTES:

* Original article by Collinge

* XLS Spread sheet

* “Compare this recovery rate to that for defaulted credit cards, which is usually about 10 cents on the dollar” quote: Sources to verify this

* Dermine and Neto de Carvalho (2006) paper