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Wednesday, September 12, 2012

''US debt collectors cash in on $1 trillion in student loans''

From 'Hang the Bankers'

''Most US college students hope to land a good job with a high salary after graduation. But for some the reality is very different. Many find themselves faced with insurmountable debt – and a loan industry that’s happy to cash in on their misfortune.

As the number of people taking out government-backed student loans has soared, so has the number of borrowers who have fallen behind in making payments.''

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