If your collection agency isn’t involved in the student loan market, then you’re missing out on your share of a $1 trillion pot.
The purpose of this report from Ontario Systems is to explain how the size (huge) and dynamic (complex) of the student loan market can be used as an opportunity for debt collectors to get involved in the marketplace, either as government contractors, as subcontractors to agencies already working with the government or as their own unique entity.
This whitepaper covers the “five W’s” for student loan collections:
from the whitepaper:
Federal Student Loans
The Department of Education is now doing five times more disbursements than it was just a few short years ago. Before 2010, Federal Family Education Loan providers were working with nearly 80 percent of the student loans originated. But on July 1, 2010, the Department of Education took over origination of those loans.