LET WESTERN CONTROL SERVICES STOP THE BLEEDING IN YOUR STUDENT LOAN PORTFOLIO
We’ve seen this scenario time and again. A college, university, or trade school extends credit to a student who enrolls to fill a coveted seat in the school’s classroom. But then something happens.
Perhaps the student changes his or her mind about attending school. Perhaps they graduated and can’t find a job at sufficient compensation to allow them to begin repaying their debt. Perhaps their source of funding got yanked while they were matriculating. Perhaps they never intended to pay the money back in the first place.
While there are many scenarios for student loan default, they all amount to the same basic outcome. The educational institute suddenly finds itself not getting paid when it should. These losses begin to accumulate, placing pressure on the institution.
Western Control Services counts collection of student loan debts among our many specialties. We have served as the collection agency of record for educational institutions whose student bodies range from a few thousand students to several tens of thousands.
We understand the business models that drive the education sector and the unique dynamics that routinely proliferate defaults on student loan accounts. We know that most schools take on between 2 – 5% outstanding student debt per year. Defaulted accounts typically range between $2,000 and $20,000, but of course, they can climb much higher.
And of course a continuing tide of defaults can bury an institution quickly lest they seek and receive immediate relief.
A school is like any other business. It can be forced to fold if it swallows too many unforeseen losses.
“Given Western Control’s suggestions and assistance, we were able to increase our rate of return by 20% within the first year of the campaign. I have been very pleased with the turnaround on special needs and requests. I would say that customer service in general makes Western Control stand out above the crowd.”
OHLONE COMMUNITY COLLEGE DISTRICT in Fremont, CA
If you run an educational institute that’s suffering under the weight of defaulted student receivables, contact Western Control Services today.