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Navient Corporation is an American student loan servicer based in Wilmington, Delaware. Managing nearly $300 billion in student loans for more than 12 million debtors, the company was formed in 2014 by the split of Sallie Mae into two distinct entities: Sallie Mae Bank and Navient.
Navient’s student loan portfolio is estimated at about $1.7 trillion, CNBC reported. Navient is the third lender this year to end its relationship with the federal government. The others are ...
Navient directed student loan borrowers into more costly repayment plans and away from lower-cost income-based choices, an investigation by the CFPB found. Navient is looking at paying $100 ...
Navient quietly releases student debt forgiveness waiver If you were defrauded by your school and have student loans serviced through Navient , the servicer is now offering a simplified route to ...
It was one of the four largest companies which service United States federal student loans: Great Lakes, Nelnet, Navient, and the Pennsylvania Higher Education Assistance Agency. [2] In 2018, the loan servicing part of the organization was sold to Nelnet .
In recent years, some student loan servicers have gone under legal scrutiny for alleged wrongdoing. Navient, formerly Sallie Mae, was charged with multiple class action lawsuits for their loan servicing methods. Navient was also sued by the Consumer Financial Protection Bureau (CFPB) for improper handling of borrower relations.
Navient, formerly part of Sallie Mae, used to be one of the biggest servicers of student loans in the country. But, after Navient became embroiled in several legal and enforcement actions, the ...
The acquisition allowed Earnest to be backed by a larger company with Navient planning to maintain the brand as a separate unit. [13] [14] In January 2018, Louis Beryl stepped down from his position as CEO. [15] In July 2018, Navient hired Susan Ehrlich as the new CEO. [16] In April 2019, Earnest launched its private student loan product. [17]