https://www.bloomberg.com/news/articles/2017-05-19/americans-are-paying-38-to-collect-1-of-student-debt
ECMC makes billions off their defaulted student loan portfolio. Students suffer, taxpayers suffer, but ECMC lives large. Well done Congress.
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ECMC is raping the tax payers for more money than CCi ever did and they're getting paid on both ends now. Zenith gets $25,000 in student loan cash from tax payers then ECMC gets $38 per $1 collected to hassle that same student to pay back their loan. What a nice set up they have, ECMC gets paid twice and the tax payers lose money twice.
Wow. This explains alot.
Incredible. Actually makes me sick. Can't anyone do something about this?