ED Collection Contract Leaders Hold Serve in February

The two companies that have led in performance on the U.S. Department of Education’s student loan collection contract continued their run by topping the rankings released by ED for February.

Arcade, N.Y.-based Pioneer Credit Recovery dominated the unrestricted – or large business – category by raking in the most money for ED, $43.3 million, and at the highest rate of recovery, 3.65 percent. The ED rankings combine performance in January and February, and are based on scores given for certain criteria, including dollars collected. Pioneer currently leads all agencies on the contract with $453.5 million collected in the 36 months the contract has been in force.