An analysis of student loan guaranty agencies' budgets by the New America Foundation has found that 60.5 percent, or $948.8 million, of the federal payments agencies received in the 2008 fiscal year were for the collection and rehabilitation of defaulted student loans. In contrast, they received only $177.3 million for helping to prevent defaults.
- Guaranty agency sues Education Department in latest fight rippling from end of bank-based lending
- Left Out by the Bailout
- Two-year default rates for student loans increase again
- Problems plague Education Department debt management process
- Ending an Experiment
- New Future for Loan Guarantors
- Guaranty agency buys most of crumbling for-profit Corinthian Colleges in U.S.
- GAO cites 'serious weaknesses' in federal oversight of debt management system
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