NYT: Debt Collectors Cash In on Student-Loan Roundup
In the latest part of its Degrees of Debt series, The New York Times examines the debt-collection industry. One expert calls student loans a “new oil well” for the industry.
Many borrowers are struggling to pay off their student loans, and the debt collection industry is cashing in. As the number of people taking out government-backed student loans has exploded, so has the number who have fallen at least 12 months behind in making payments — about 5.9 million people nationwide, up about a third in the last five years.
Read more at: www.nytimes.com
