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From: Linda Winslow (lwinslow@clarku.edu)
Date: Mon Jan 27 2003 - 11:56:09 EST

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    Hi All,

    It was my understanding that it was a Federal Law that Collection Companies
    could not allow a borrower to pay off their student loans using a credit
    card (this would be creating debt to pay debt). However I am finding that
    Collection Companies are doing this and have been successful obtaining
    credit card merchant ID's to run the cards themselves. Do any of you know
    whether or not this is illegal?

    Any information would be helpful.

    Sincerely,

    Linda Winslow
    Associate Controller/Bursar
    (508) 793-7498
    (508) 793-7500 (fax)
    lwinslow@clarku.edu

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