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It could cost taxpayers $800 million to collect student debt from struggling borrowers [MarketWatch]

PERFORMANT FINANCIAL (PFMT)  More Company Research Source: MarketWatch
Last performant financial earnings: 8/9 04:05 pm Check Earnings Report
US:NASDAQ Investor Relations: investors.performantcorp.com/node/5806
PDF It could cost taxpayers $800 million to collect student debt from struggling borrowers Two companies just won the opportunity to participate in the profitable business of collecting money from struggling student loan borrowers on behalf of the government. The Department of Education disclosed Thursday evening that it selected Performant Financial Corporation and Windham Professionals Inc. to collect money from student loan borrowers who defaulted on their debt. The selection meets a court-ordered deadline to pick the debt collectors that would win the government business. It’s the latest development in years of litigation and protests over the lucrative award, which is likely only to continue as the losing bidders figure out how they will respond. The selected companies could make $400 million For the winners, receiving the contract is a big boost to their business. Performant’s PFMT, +19.07% stock opened Friday more than 50% up from Thursday’s close. Michael Tarkan, a senior ana [Read more]

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