"The debt collectors ... are the most to blame for the student loan debacle—and are the biggest reason so many young people seek my help. ... In fact, the customer service is challenging even for a credit expert."

Fortunately, under this new bill, the DOE and other loan agencies are being asked to create a new system by 2016 that will provide borrowers with "quality customer service, reliable information, and fair treatment, even if they struggle to pay their loans."

To do this, they must find better ways to help with loan repayment, such as a centralized website to make it easier to file complaints and to see all your student loans in one place; a better process for borrowers who become disabled to get their loans discharged; and my personal favorite: to allow only federal employees to collect on defaulted loans rather than private debt collectors.

The debt collectors, I believe, are the most to blame for the student loan debacle—and are the biggest reason so many young people seek my help in getting their student loan out of collections. In fact, the customer service is challenging even for a credit expert.

I get calls from clients every day telling me they went to Wharton or MIT and are frustrated that they have to hire a credit management expert to resolve issues with a collection agency about their student loan because they can't get anywhere with them after hours on the phone.