Student Lending Revealed

[shikamaru]

I may be interpreting the memo harshly but until today this policy has been private.

I feel there is a corruption (and debasement) of language here.

If the lending is provided by a public institution i.e. a public bank formulated by government charter, how is it "private" student lending?

True private student lending would be individuals and families providing their own lending by way of their own personal or family banks.