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Author: Warren C. McAlvey
Publisher: National Association of College & University Business Office
ISBN:
Category : Business & Economics
Languages : en
Pages : 264
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Book Description
Guidelines for loan collection staff who award/service college student loans are presented. Attention is directed to sound collection procedures, three specific loan programs, suing a defaulted borrower, the Family Educational Rights and Privacy Act and the use of credit bureaus, and student loan borrower bankruptcy. Loan collection procedures for all types of loans, including institutional loans, are covered with attention to making the loan, servicing accounts before repayment, the in-school period, the exit interview, the billing process, interrupting the billing process, and the collection process. Procedures for the National Direct Student Loan (NDSL) program (a continuation of the National Defense Student Loan Program), the Health Professions Student Loan program, and the Nursing Student Loan program are discussed in detail. Additional topics include: types of legal action with defaulted borrowers, steps in suing a borrower, settling a suit out of court, disclosure of information, functions of a credit bureau, and chapter 7 and chapter 13 bankruptcies. Appendices include 83 exhibits consisting of sample letters, forms, and other documents that illustrate the text. Included are government forms, which may change over time, and a glossary. (SW)
Author: Warren C. McAlvey
Publisher: National Association of College & University Business Office
ISBN:
Category : Business & Economics
Languages : en
Pages : 264
Get Book Here
Book Description
Guidelines for loan collection staff who award/service college student loans are presented. Attention is directed to sound collection procedures, three specific loan programs, suing a defaulted borrower, the Family Educational Rights and Privacy Act and the use of credit bureaus, and student loan borrower bankruptcy. Loan collection procedures for all types of loans, including institutional loans, are covered with attention to making the loan, servicing accounts before repayment, the in-school period, the exit interview, the billing process, interrupting the billing process, and the collection process. Procedures for the National Direct Student Loan (NDSL) program (a continuation of the National Defense Student Loan Program), the Health Professions Student Loan program, and the Nursing Student Loan program are discussed in detail. Additional topics include: types of legal action with defaulted borrowers, steps in suing a borrower, settling a suit out of court, disclosure of information, functions of a credit bureau, and chapter 7 and chapter 13 bankruptcies. Appendices include 83 exhibits consisting of sample letters, forms, and other documents that illustrate the text. Included are government forms, which may change over time, and a glossary. (SW)
Author: New York (State). Division of Audits and Accounts
Publisher:
ISBN:
Category : Student loans
Languages : en
Pages : 66
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Book Description
Author: Alice Cooper
Publisher: CreateSpace
ISBN: 9781505987218
Category : Business & Economics
Languages : en
Pages : 24
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Book Description
Litigation can be pursued by the Department of Education as well as state guaranty agencies as a means for collecting the defaulted loans. The borrower is therefore sued for the outstanding debt as well as for the attorney and court fees.Read this book to know more details about student loans.
Author: United States. General Accounting Office
Publisher:
ISBN:
Category : Federal aid to higher education
Languages : en
Pages : 48
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Book Description
Author: United States. General Accounting Office
Publisher:
ISBN:
Category : Student financial aid administration
Languages : en
Pages : 76
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Book Description
Author: U. S. Government Accountability Office (
Publisher: BiblioGov
ISBN: 9781289116477
Category :
Languages : en
Pages : 76
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Book Description
Pursuant to a congressional request, GAO reviewed the methods used by the Department of Education and state or nonprofit loan guaranty agencies to collect defaulted student loans. GAO found that: (1) guaranty agencies provide preclaims assistance to lenders, process lenders' claims, collect loans, prepare forms for Education, and perform litigation of defaulters; (2) guaranty agencies' standard procedures for collecting defaulted student loans were less stringent than Education regulations; (3) agencies differed in how they credited defaulter payments to an individual's outstanding balance; (4) 86 percent of the agencies used an average of 5 private collection contractors; (5) 79 percent of the agencies had difficulty enforcing legal judgments against defaulters; (6) the use of administrative offsets or wage garnishment procedures was limited by state law; and (7) the most successful collection techniques were reporting defaulters to credit bureaus, using private collection contractors, and contacting borrowers by telephone.
Author: United States. General Accounting Office
Publisher:
ISBN:
Category : Student financial aid administration
Languages : en
Pages : 56
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Book Description
Author: United States. General Accounting Office
Publisher:
ISBN:
Category : Federal aid to education
Languages : en
Pages : 44
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Book Description
Author: United States. General Accounting Office
Publisher:
ISBN:
Category : Medical students
Languages : en
Pages : 48
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Book Description
Author: United States. Congress. House. Committee on Education and Labor. Subcommittee on Postsecondary Education
Publisher:
ISBN:
Category : Collecting of accounts
Languages : en
Pages : 44
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Book Description
