Here's the thing, if you do as many seem to be suggesting and give up on collections for this small percentage of loans, then your default rate will go up as people realize there are no consequences.
It's not as if we are spending $38 for every $1 in student loans - the vast majority of them have no money spent on collections.
$38 seems crazy high to me, and given the fact that it's the federal government in charge I'm sure it's horrifically inefficient, but we can't just walk away from the money or it all goes to hell.
It's not as if we are spending $38 for every $1 in student loans - the vast majority of them have no money spent on collections.
$38 seems crazy high to me, and given the fact that it's the federal government in charge I'm sure it's horrifically inefficient, but we can't just walk away from the money or it all goes to hell.