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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 Partners with Student Account Management Services, LLC

Account Control Technology, Inc. (ACT), a national leader in delivering debt management and recovery solutions, is pleased to announce its partnership with Student Account Management Services, LLC (SAMS 360), a premier student loan default aversion company serving colleges, universities and private lenders – as well as their borrowers. The partnership will enable ACT to offer its many education clients a comprehensive default prevention and cohort default rate management program.

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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.