Education Department cuts ties with the deceptive student loan debt collectors

HUFFPOST ALERT Education Department Terminates Contracts With Debt Collectors Accused Of Wrongdoing Alex Wong via Getty Images The U.S. Department of Education, under fire for its lackluster oversight of student loan contractors, said Friday it will terminate its relationship with five debt collectors after accusing them of misleading distressed borrowers at "unacceptably high rates." The surprise announcement follows years of complaints about allegedly illegal debt-collection practices by Education Department contractors, the department's seeming lack of interest in ensuring that borrowers are treated fairly, and the relative opacity of the entire operation. Read the whole story Follow HuffPost on Facebook and Twitter Know something we don't? Email us at breakingnews@huffingtonpost.com Unsubscribe | Forward | Manage your notification preferences 770 Broadway, New York, NY 10003