{"product_id":"defaulted-student-loans-guaranty-agencies-collection-practices-and-procedures-hrd-86-114br-9781289116477","title":"Defaulted Student Loans: Guaranty Agencies' Collection Practices and Procedures: Hrd-86-114br","description":"\u003cp\u003e • Author(s): U. S. Government Accountability Office (\u003cbr\u003e • Publisher: Bibliogov\u003cbr\u003e • Publisher Imprint: Bibliogov\u003cbr\u003e • BISAC: General\u003c\/p\u003e\u003cp\u003ePursuant 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. \u003cbr\u003e \u003cbr\u003e 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.\u003c\/p\u003e","brand":"Bibliogov","offers":[{"title":"Paperback","offer_id":47596665241751,"sku":"9781289116477","price":1569.0,"currency_code":"INR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0666\/3471\/1191\/files\/9781289116477.webp?v=1774994680","url":"https:\/\/atlanticbooks.com\/products\/defaulted-student-loans-guaranty-agencies-collection-practices-and-procedures-hrd-86-114br-9781289116477","provider":"Atlantic Books","version":"1.0","type":"link"}