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ED OIG: Federal Student Aid Paid Private Collection Agencies Based on Estimates

May 1, 2013

Pursuit's Take

The purpose of this OIG memorandum is to inform DOE of the concern that Federal Student Aid (FSA) paid estimated commissions and bonuses to Private Collection Agencies (PCAs).

As a result, FSA paid an estimated $448 million in commissions, without reviewing supporting documentation, and paid an estimated $8.3 million in bonuses based on a revised methodology. FSA’s revised methods for paying commissions and bonuses may have resulted in overpayments or underpayments to the PCAs.

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