The government sells the loans out of the gate. Once the loan is complete, and consolidated, they sell them to second and third party loan servicers. Please see the article about the number of times his loan has been sold. And people willingly buy them because they can make a boat load of money of late fees and other penalties, and because they are &#x27;backed&#x27; by the government. But to maintain the liquidity of the market, the loans are sold immediately. The government doesn&#x27;t hold the loans for a day longer than they need to. And from what I understand, the school of the loan, the degree of the loan, the race of the borrower, the home address of the borrower, every available data point all impact the income from the secondary sale of the loan. So it&#x27;s all already in the marketplace as it is.