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Us Department Of Education Student Loan News
As Student Loan Default Rates Rise, Is the Law School Bubble Bursting?
Here at the Student Loan Ranger, we recently read about Educational Credit Management, a Minnesota nonprofit that is earning commissions of up to 31 percent for collecting on defaulted student loans. Seven of their employees earned more than $400,000 in 2010, according to the San Francisco Chronicle.
Read more...$1 billion paid to pursue student loan scofflaws
Number of the day $1 billion That's how much private debt-collection companies earned in fees last year from chasing down borrowers on unpaid student loans. With $67 billion of the loans in default, the U.S. Education...
Read more...US students now owe almost $1 trillion in student loans
Fearing that hiking student interest rates would further increase the already ballooning education loan levels, academics and members of student unions make a fervent plea to the US Congress to subsidise such loans.
Read more...Grads Have Options to Manage Student Loan Debt
Families, friends, and colleges across the country have come together in recent weeks to celebrate the accomplishments of the class of 2012. And even as they cross the threshold and flip their tassels, many new graduates are preparing to undertake new hardships to manage student debt payments.
Read more...Taxpayers Fund $454,000 Pay for Collector Chasing Student Loans
Joshua Mandelman made $454,000 in asingle year as a student-loan debt collector -- more than twicethe pay of the U.S. secretary of education. His boss, Richard Boyle, chief executive officer ofEducational ...
Read more...Student-loan debt-collection agencies garner criticism
Lucrative incentives paid to federal student-loan collectors are sparking criticism that not-for-profit loan-guaranty agencies are reaping a bonanza from the troubles of former students. USA Funds, the largest guaranty agency, is based in Indianapolis.
Read more...GOP, Dems 'Play Chicken' with Student Loan Rates in US Senate
Competing proposals in the US Senate on how to prevent a doubling of Stafford college loan rates has Democrats, including Obama's White House, playing a public game of chicken with their Republican opponents. read more
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