ED Collector Premiere Credit Adding 300 Jobs

Premiere Credit of North America, an Indianapolis-based student loan collection agency, will double in size in the next few months, adding roughly 300 jobs, according to the Indianapolis Star.

The company, one of the five debt collectors on the department of Education’s small business student loan collection contract, said Wednesday that it will be hiring collectors, skip tracers and managers. To accommodate the growth, Premiere Credit is looking to add another office location in the Indianapolis area.

Premiere Credit will be receiving up to $2.7 million in tax credit and job grant assistance from the state of Indiana for creating the jobs.

The firm’s CEO, David Hoeft, told the Star that the growth is a direct result of the ED collection contract. Hoeft expects his company to be among those awarded a new contract when ED renews the current arrangement (“ED Collection Contract Award Pushed Back Again,” Oct. 7).

One industry expert agreed with Hoeft’s assessment. “The company has performed very well, and as a result they will likely receive more work from the department, and that's probably why they are increasing staff,” said Paul Legrady of the collections industry consulting firm Kaulkin Ginsberg Co.

Editor’s Note: Kaulkin Ginsberg is the parent company of insideARM.com.