Are there additional costs that I would have to pay if my student loan was handed to a collection agency?
Are you currently in default with your student loan?
Yes, I have fallen into arrears on my loan and am fearful that it will be handed over to a collection agency
If a collection agency is involved, you will liable for any of the costs involved in handing over the loan. The costs involved are equal to 17.92% of your outstanding balance, this amount includes principal, interest and fees