Debt Collectors Cash In as Students Struggle to Repay Loans

http://www.cnbc.com/id/48958541

On the sidelines was a business consultant for the debt collection industry with a different take.

“I couldn’t believe the accumulated wealth they represent — for our industry,” the consultant, Jerry Ashton, wrote in a column for a trade publication, InsideARM.com. “It was lip-smacking.”

Though Mr. Ashton says his column was meant to be ironic, it nonetheless highlighted undeniable truths: many borrowers are struggling to pay off their student loans, and the debt collection industry is cashing in.

In all, nearly one in every six borrowers with a loan balance is in default. 

I wonder how many times of the day The debt collectors ring the Federal Government for collections? Oh wait...they don't pay Debt, they just create it.