Other Student Loan Companies
Higher education legislation
since 1997 has spawned a new industry of non-profit and for profit originators,
guarantors, and collection companies for student loans, most all of whom
have experienced a dramatic rise in executive salaries since the 1965
Higher Education Act was amended. Below is a typical educational non-profit
called Edfund. Edfund's primary function is to collect defaulted debt
on loans originating from Sallie Mae. Edfund's president, Beck Stilling
(recently resigned), saw her salary more than double over 3 years time.
Her staff experienced similar -and often much more dramatic- increases
in pay. The salaries of the other executive staff members are shown below.
There are too many smaller collection companies who are getting obscenely rich from this legal robbery to mention here, but Premiere Credit of North America is a good representative. Go to their website and look at it for 5 seconds. Their homepage really says it all.