> Close to 80 percent of borrowers who rehabilitate their debt make the minimum $5 monthly payment, according to a 2015 estimate by the National Council of Higher Education Resources, a lobbying group that represents student debt collectors and servicers. That means the Education Department is paying its debt collectors up to $1,710 per borrower to collect around $45, regardless of whether the borrower continues to make her payments.
In other words, the government is paying through the nose in order to artificially reduce actual default numbers.
In other words, the government is paying through the nose in order to artificially reduce actual default numbers.