Ottawa Farming Out Bad Student Loans to Agencies

Published on:
12 September 2006 at 10:21 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00015592-ottawa-farming-out-bad-student-loans-to-a/

In a bid to help make post-secondary education more affordable for its citizens, Ottawa, Canada, will refer outstanding student loan debts to collection agencies. According to a story running on CTV.ca, the federal government had been spending millions trying to collect on these delinquent student loans.

The combined value of these collection agency contracts is $180.8 million (US$161.7 million). However, many believe that the amount collected will only be a fraction, since many of the accounts turned over will prove uncollectible.

You can read more about this story at Ottawa farming out bad student loans to agencies.