Debt collectors work with universities, colleges and private lenders to collect student loans. For education loans backed by the federal government, the U.S. Department of Education has a clearly-defined collection program that uses private collection agencies. Recent changes in federal law will shift all previously federally backed loans to direct loans from the federal government, cutting private lenders out of the equation.
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Executive Change: Gary Hopkins to GC Services' Student Loan Division
14 June 2007
ACS to Take $76 million Impairment Charge on Dept of Ed Contract
4 June 2007
Columbia University to Pay $1.125 million to Settle Student Loan Probe
1 June 2007
Sallie Mae CEO Steps Down; Replacement Named
23 May 2007
Sallie Mae Acquirers Announce Initiatives to Enhance Responsible Student Lending
22 May 2007
Student Loan Collection Firm Opening New Office and Staffing Up
22 May 2007
Obama Backs Placing Student Loans Under Government Control
16 May 2007
House Adopts Crackdown on Student Loan Business
10 May 2007
Private Equity Legend Enters the ARM Industry - Big Time
1 May 2007
Probe Launched on Sallie Mae Collection Tactics
27 April 2007
Executive Changes: Torby Love and Brenda Sisk to Account Control Technology
26 April 2007
NY AG Testifies Before House Committee On Student Loan Industry
26 April 2007
GC Services Wins Collection Awards from Sallie Mae and Nissan
25 April 2007
Sallie Mae Collection Revenue Up to $65.5 million in Q1
24 April 2007
NY Sues One School, Settles with Four in Student Loan Probe
20 April 2007
Paper: Sallie Mae Sale Could Result in Breakup of Debt Collection Units
20 April 2007
BYU to Report Credit Delinquencies to Credit Bureaus
18 April 2007
New York Brings Other States Into Student Loan Probe
18 April 2007
Dept of Ed to Hold Forum for Collection Contract Hopefuls
17 April 2007
Group to Buy Sallie Mae for $25 billion; JP Morgan and Bank of America Involved
16 April 2007
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