The cost of a college education is not only getting higher. It’s getting tougher, too. At least in Virginia.
A Washington Post report indicates that an increasing number of students are being sent to collection agencies over delinquent tuition payments that would appear to be miniscule to the schools but much more substantial to the students. Those collection agencies add interest fees as high as 30 percent.
This is done in connection with a Virginia statute that requires public colleges and universities to crack down on overdue tuition payments. If the amount is more than $3,000, it goes to the state attorney general’s office; if it is less than $3,000, to a collection agency. Either way the interest rates are exorbitant.
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