BDP To Take Over Troubled Canadian Student Loan Program
Posted on November 14, 2007
Filed Under Student Loans |
BDP has won a 5 year, $270 million contract to provide end to end servicing of the Canadian Student Loan program.
BDP will manage the 1.6 million borrowers in the student loan program. The estimated total of all debts are around 7 billion dollars.
BDP hopes to reduce Canadian student loan defaults which make up about 25% of all Canadian Student loans. Along with the reduction of student loan defaults, BDP also hopes to raise the level of borrower satisfaction on servicing of student loans.
However this help from BDP isn’t without its detractors. Many in Canada are quick to point out BDP’s sanfu concerning firearms registrations. Regardless, BDP has won the contract and doesn’t see a problem servicing Canadian Student Loans.