Editor’s Note:
Today we are running the eleventh segment of the 15-part series on college-student-loan debt. (Thank you to onlinecolleges.net for putting this together.)
Student loan collection contracts are gold mines for collection agencies.
Debt collection agencies have pounced on the opportunity to work with the government. Some have doubled in size and are thriving, even amid the poor economy, through government contracts that reward them generously. Last year, the Department of Education paid 23 private debt collection agencies more than $355 million, which, according to some experts, has made contracts with the government the most sought-after within the debt collection industry.
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