Student Loan Defaults may grow Pricier as Fees rise

College grads and others who are unable to make payments on certain student loans could find it even tougher to dig out of debt now that it’s possible to be hit with double-­digit collection fees. The fees — which could be as high as 16 percent — started creating buzz in mid-March after a policy revision was issued by the U.S. Department of Education. It’s yet another reminder of why borrowers should do all that’s possible to avoid defaulting on student loans.