Debt Collectors Cashing In on Student Loan Roundup
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.
In all, nearly one in every six borrowers with a loan balance is in default. The amount of defaulted loans $76 billion is greater than the yearly tuition bill for all students at public two- and four-year colleges and universities,
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