Private student loans are funded by a bank or private lending institution, and therefore, private student loan forgiveness is not something offered through the government. (goldenfs.org)
These private education loans are funded with the proceeds from tax - exempt bonds or private financing, and no State monies are allocated to fund the program. (maineloan.com)
On top of that, most loans are funded within a few business days, and in certain cases, funds can be received on the same day. (valuepenguin.com)