Federal agencies intervened in the private student-loan market during the financial crisis and could play a future role, said the Consumer Financial Protection Bureau's (CFPB) student-loan ombudsman.

"Regulators and agencies and the Fed may have a role to play to ensure that the market is working well and is liquid and that risk really reflects a price appropriately," Rohit Chopra said in an interview for Bloomberg Radio's "Bloomberg EDU with Jane Williams" program.

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