Education Dept. to Drop 5 Collection Agencies Over ‘Deceptive Practices’

By Andrew Mytelka. The U.S. Education Department is cutting ties with five private collection agencies that it says provided inaccurate information to student-loan borrowers. In an announcement late Friday, the department also said it would step up its monitoring and guidance of such collection agencies, which work under government contracts, to ensure that they give borrowers accurate data on their loans. More...