Collection Company Rapid Recovery Solution, Inc., Releases Statement Regarding Texas University’s Plan to Forgive Portion of Student Loans

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Following an article stating that the University of Texas would be reducing student loan debt by forgiving portions of student loans, collection company Rapid Recovery Solution adds its own input.

On October 11, 2012, collection company Rapid Recovery Solution comments on an article which states that the University of Texas would implement a plan to forgive student loans for quick graduates.

The article by Business Insider states that the Austin-based university would be unveiling its loan forgiveness plan in an effort to cut down the amount of student loan debt in its students and reduce the financial burden of many students. According to the article, the program will go into effect in the Fall 2013 semester when over 200 freshmen students will be forgiven approximately $1,000 in loans each. The article continues by stating that numerous other UT students are said to be offered other forms of loan forgiveness assuming that maintain certain GPAs and are able to attain their degrees within a reasonable timeframe.

Rapid Recovery Solution CEO, John Monderine, comments on this effort by UT, expressing optimism over the potential for students and youth employees to have less economic burden and find work quicker once they finish school. “Texas University should be commended for helping reduce the amount of money owed for students.”

Rapid Recovery agrees that the University of Texas’ willingness to take initiative with loan forgiveness will benefit the entire job market in the end. When students have less financial obligations hounding them after college, they can focus instead on finding jobs and spurring employment growth. “Strapping our youth with bills they can't afford to pay back is hindering them from taking entry level jobs. This will help the unemployment number greatly,” Monderine said.

Founded in 2006, RRS Collection Agency is located at the highest point of peaceful Long Island. Rapid Recovery Collections Agency is committed to recovering your funds. We believe that every debtor has the ability to pay if motivated correctly. We DO NOT alienate the debtors; we attempt to align with them and offer a number of ways to resolve not only your debt but also all their debts.

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