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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 ...
At the time the CFPB filed its lawsuit against Navient back in 2017, the agency said that Navient was servicing student loans of more than 12 million borrowers, including more than 6 million accounts under its contract with the Education Department. In total, the CFPB added, Navient serviced over $300 billion in federal and private student loans.
The number of lawsuits against a prominent federal student loan servicer has grown recently. Federal student loan servicers, such as Nelnet and Navient Corp., are companies that collect payments ...
The new agreement, filed in court on Thursday, stipulates that the CFPB would permanently ban Navient from directly servicing federal student loans. Of the $120 million Navient would have to pay ...
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.
Nearly 66,000 student loan borrowers got some financial relief on Thursday after Navient, one of the country's biggest loan servicing companies, reached a $1.85 billion settlement over predatory ...
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The lawsuit filed by Pennsylvania in 2017 included other examples. One student who enrolled in a master’s degree program did not complete the degree and struggled to repay the loan, it said.