Student Loan Debt Market

[Samuel Eastling]

hello fellow BP'ers,

I am 20 years old and actually didn't go to college due to the unrealistic prices and uncertain ROI on my degree. Have any of you thought about buying up delinquent student debts. As more and more students get into default there is a growimg market for it.

[Drew M.]

Unfortunately you can't auction off students as collateral when they default on their loans.  ;)

It's an interesting thought but that is simply debt collection work which has all sorts of challenges of its own.  Although student loans are typically non-dischargeable I am sure that the state and federal consumer-protection laws would still apply.  You would probably get sued frequently if you were doing high volumes, whether or not you actually ran afoul of the FCPRA etc.