Student Loans : Borrower Default, Rehabilitation, Federal Terms and Conditions
Book Details
Format
Hardback or Cased Book
ISBN-10
163321267X
ISBN-13
9781633212671
Publisher
Nova Science Publishers Inc
Imprint
Nova Science Publishers Inc
Country of Manufacture
US
Country of Publication
GB
Publication Date
Sep 1st, 2014
Print length
115 Pages
Weight
346 grams
Dimensions
23.10 x 16.10 x 1.40 cms
Product Classification:
EducationFunding of education & student finance
AI Summary
Ksh 29,500.00
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The Department of Education (Education) relies on collection agencies to assist borrowers in rehabilitating defaulted student loans, which allows borrowers who make nine on-time monthly payments within 10 months to have the default removed from their credit reports. Education works with 22 collection agencies to locate borrowers and explain repayment options, including rehabilitation. From fiscal years 2011 to 2013, Education collected about $9 billion on over 1.5 million loans through rehabilitation, most of which was recovered by collection agencies. This book examines how Education assists borrowers in rehabilitating defaulted student loans; the upgrade of its defaulted loan information system affected loan rehabilitation; and Education oversees private collection agencies in implementing loan rehabilitation.
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