Tag Archives: Student Loan Debt Collection

As expected, the federal government yesterday announced that it was extending the moratorium on making student loan payments for an additional four months — to August 31 — but added in an extra wrinkle that will impact those in the accounts receivable management industry: The 7 million borrowers who are …

The State University of New York system, a network of 64 campuses spread throughout New York state, is reviewing its debt collection practices, with an eye on no longer blocking students with unpaid debts from re-enrolling for classes, according to a published report. SUNY’s board of trustees also decided not …

As the clock continues to count down toward the restart of individuals having to make payments on their student loans, lawmakers are pulling out all the stops to keep that from crippling the financial situations of millions of borrowers as the country deals with record inflation and a rising number …

Less than five months after it announced it was exiting the student loan servicing business, the Pennsylvania Higher Education Assistance Agency — more commonly known as PHEAA — disclosed on Thursday that it had reached an agreement with the Education Department to extend its contract for one year to allow …

The Department of Education last week notified the private collection agencies it had been using to help recover payments on defaulted student loan debts that it would no longer be placing accounts with them. Instead, the accounts will be placed with five private contractors hired by the department last year …

The Department of Education is considering proposals that would give borrowers “new flexibility” like initial grace periods when its moratorium on student loan payments ends on January 31, according to a published report. Individuals with federal student loans have not had to make payments since the COVID-19 pandemic hit the …

The Attorney General of New York is seeking ways to overhaul how unpaid student loans are collected, especially those incurred by individuals attending State University of New York schools, because a little-known regulation allows the AG to file suit in State Supreme Court in Albany, N.Y., regardless of where the …