In cases where payments are not made for an extended period of time, we will send you a number of notices, and if we do not hear back from you, you may be sent to collections. Your promissory note and/or The Financial Liability Agreement, which students sign at registration provides the information regarding collections and the costs of collection efforts. Collection fees are percentage based, determined by your balance and added to the amount our collection agencies manage.
For example: Your past due loans are $10,000. If the collection fees are 40%, $4,000 is added to the amount sent to collections and you now owe $14,000!
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