Trump administration is hiring debt collectors to go after defaulted student-loan borrowers for first time in 6 years
Summary
The Trump administration plans to hire private debt collectors to pursue defaulted student loan borrowers for the first time in six years. Under this Treasury Department proposal, these collection agencies will receive significantly lower compensation than they did previously for assisting borrowers with exiting default.
The Treasury Department proposes to pay debt collectors much less than in the past to help borrowers get out of default.
Source: Read the full story at MarketWatch.com - Top Stories
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