Prior to 2010, Federal loans included 1) direct loans originated and funded directly by the United States Department of Education and 2) loans originated and funded by private investors and guaranteed by the federal government. Guaranteed loans were eliminated in 2010 through the Student Aid and Fiscal Responsibility Act and replaced with direct loans because of a belief that guaranteed loans benefited private student loan companies at taxpayers expense, but did not reduce costs for students. The Trump administration commissioned private consultants to estimate the value of the U.S. government's student-loan portfolio, in order to possibly sell all or some of the debt to private investors.