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Repayment Programs

ACSI understands the varying federal regulations that
apply to defaulted student loans and has the knowledge
and expertise to adhere to compliance requirements
while resolving them successfully.

The primary goal of all default repayment programs is to get student borrowers into a repayment plan through which they can realistically and reliably maintain their agreed-upon payment arrangements and bring their loans out of default and into good standing. To support our higher education clients who place defaulted student loans with us for collection, ACSI provides collection services based on loan type and associated federal regulations with the goal of matching student borrowers with the repayment programs for which they are eligible and best meets their situation.

  • Direct, Stafford, and PLUS Loans - The U.S. Department of Education (ED) has several repayment plans to enable student borrowers who have Federal Direct, Stafford/FFEL, and PLUS loan obligations to work toward repaying their loans, including Standard Plan, Extended Plan, Graduated Plan, Income-Based Plan, Income-Contingent Plan, Income-Sensitive Plan, and Pay As You Earn Plan. ACSI Recovery Agents begin their contact with student borrowers by attempting to collect payment-in-full. If student borrowers cannot pay their loans in full, ACSI follows ED’s guidelines for establishing Standard Plan payment arrangements. If student borrowers cannot make established payment requirements, then ACSI’s Recovery Agents assess their financial situations before recommending the repayment plans that are in their best interests. They also assess whether student borrowers’ situations are best served via loan consolidation or rehabilitation. Because our Higher Education Recovery Agents have such extensive knowledge and experience working with student borrowers who have defaulted federal loans, ACSI is consistently able to match student borrowers with the right program with which they are most likely to maintain good repayment habits for the duration of their commitment.

  • Perkins and Health Professions Loans - Higher education institutions such as colleges and universities that extend Perkins and Health Professions loans to student borrowers who have demonstrated a financial need are directly in charge of, and responsible for, the repayment of those loans. As such, the repayment requirements of the Perkins and Health Professions loans are specific to those higher education institutions; however, they must also maintain compliance with ED’s standards to continue receiving federal support to fund their Perkins and Health Professions loan availability. ACSI’s Higher Education Recovery Agents assigned to work accounts placed by our college and university clients are specialists who have experience working not just Perkins and Health Professions loan accounts but also college and university client-specific repayment requirements. They work Perkins and Health Professions accounts based on a sequential approach whereby our Recovery Agents first attempt to obtain payment-in-full and then follow through by seeking payment arrangements, consolidation or rehabilitation, and, if allowed, legal enforcement. In addition, many higher education institutions use a loan servicer to bill student borrowers and/or place accounts with collection agencies, ACSI accepts, interfaces, reports, and returns accounts with higher education institutions or their loan services based on clients’ preferences.
  • Quality Assurance - Compliance with federal and state regulatory mandates is of the utmost importance not only to ACSI but also to our clients, their consumers, and the regulatory bodies that monitor the collection industry. ACSI has instituted a robust internal audit program as the firewall between ACSI’s operations and potential non-compliance actions. Our audit staff also audits for compliance with client contract and service requirements and ACSI’s internal work standards. ACSI maintains a dedicated Quality Assurance and Audit Department, which is managed by the Director of Corporate Compliance and supported by experienced Quality Assurance Auditors (QAAs), all of whom have received extensive regulatory training before being assigned to audit accounts. ACSI has carefully documented all of the processes and procedures we follow to conduct internal audits. These detailed documents set the stringent audit standards to which ACSI quality control auditors, service standards, and regulatory compliance actions must adhere.