The University of Texas at Austin contracts with four national collection agencies to collect our severely past due student loans.
If your federal loan becomes six months past due, or your institutional loan becomes three months past due, it will be placed with one of our collection agencies. A collection fee of up to 33 1/3 percent of your past due balance will also be added to your loan. Interest and collection fees will continue to accrue monthly on federal and long-term loans.
Within two weeks of placement, you will be contacted directly by the collection agency. It is in your best interest to contact the agency as soon as possible to resolve the delinquency on your loan.
The collection agencies we contract with are listed below:
General Revenue Corporation
Williams and Fudge
National Credit Management