A generation ago, Congress privatized a student loan program intended to give more Americans access to higher education. In its place, lawmakers created another profit center for Wall Street and a system of college finance that has fed the nation’s cycle of inequality.
James B. Steele
Once a family-owned firm, NCO Financial Systems moved into the student loan collection business in 1996 and began buying up other debt collectors – before the Federal Trade Commission cracked down.
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