September 9, 2012

Student Loans, Shale Oil for Debt Collectors


Student Loans, the shale oil for debt collectors.
 

source: NYTimes

The debt collectors, accounts receivables management industry, have found their new shale oil fields – student loans.

Mark Russell at InsideARM 
suggested student loans might be a “new oil well” for the accounts receivable management industry, or ARM, as the industry is known.
A student loan bill collector’s perspective at InsideARM 
As I wandered around the crowd of NYU students at their rally protesting student debt at the end of February, I couldn’t believe the accumulated wealth they represented – for our industry.

It was lip-smacking.

NYU outstanding student loans were over $650 million in 2011. In private, for-profit schools University of Phoenix leads others by a wide margin, in student loan defaults.

NYTimes has more on student loans, student loan defaults and the collections industry that thrives around this. Not including the Universities who are growing because of student loans.

Related - a gallery of University ads who all want you.



Tags: student loans, student loan bill collector, student loan collections, student loan defaults 2004-2012, gallery of university ads