There is little doubt that the current consumer credit worries will rapidly work their way through to the education sector. Already, we have seen some increase in the problems experienced by private schools in obtaining their fees.
The Universities and Colleges are not so immediately effected, but mounting student debt has already become an issue. The higher education sector has had to manage many challenges in the areas of funding over the past five years, and the pace of change shows no sign of slowing. Most institutions have mounting numbers of creditors and are now becoming far more relaxed about using third party assistance.
Our directors have serviced accounts in this sector for more than 10 years. It is clear that the sector has remained relatively undiscovered by collection agencies in the past. Today, however, institutions are more efficient and more demanding of their suppliers and whilst they still require a relatively sensitive collections process, there is far more of a financial