Federal Student Loan Contract Leads to Expansion

Premiere Credit of North America is a debt-collection agency located in Indianapolis, IN. They have the contract with the Federal Government to collect on student loans. As the Indystar.com website reports they are planning a major expansion of personnel and space. One would assume that due to the recent downturn in the economy the company is preparing for a wave of problems with people paying back their loans.

The Federal Government gives out a lot of money and loans every year. Much of this is handled by private companies, or entities sponsored by the government. A good example would have been the now defunct Freddie Mac and Fannie Mae. The equivalent for student loans is Sallie Mae. The contract to collect student debt is up for renewal and Premiere Credit is comfortable they will win the recompete. The company works mainly for state and the Federal government collecting on their debt. With the economic struggles continuing this might be an area for investment.