Data Security and compliance play significant roles in Student Loan Collections

Your clients are expecting you to conduct various audits of your processes and procedures.

There’s overarching regulations like SSAE 16 and those from the CFPB. Add to those requirements from The Higher Education Act of 1964 and the Department of Education, and collecting on student loans becomes much more than elementary. Listen as our panel discusses what it takes to maneuver through this maze when collecting on Student Loan debt.

The Student Loan Landscape at a Glance

  • Growing Asset class
  • Multiple creditor types
  • Average loan balance continues to rise
  • Fees continue to decrease
  • Asset class specific resolution types
  • Loan Rehabilitation
  • Loan Consolidation
  • Administrative Wage Garnishment
  • High “visibility”
  • Compliance and data security are paramount