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Department of Education Collections

The U.S. Department of Education currently has responsibility for all federally-backed student loans that go into default through its Federal Student Aid unit. In addition to using extensive internal resources to rehabilitate some borrowers, FSA contracts with 22 private collection agencies to help recover the debt. FSA updates the performance of each collection agency in a comprehensive report every month.

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Account Control Technology Achieves No. 1 Performance Ranking on Student Loan Collection Contract

Account Control Technology, Inc. (ACT), a national leader in delivering debt recovery solutions, is pleased to announce that it has been recognized as the No. 1 private collection agency on the U.S. Department of Education unrestricted contract for the quarter ending September 30, 2014. The ranking was among the 17 large agencies currently on the unrestricted contract.