In the News

Title

What Student Loan Borrowers Must Know About the Navient Lawsuit

Document Type

Article

Publication Date

1-30-2017

Abstract

A recent lawsuit filed by the U.S. Consumer Financial Protection Bureau accused Navient Corp., the nation's largest servicer of both federal and private student loans, of systematically misleading borrowers by providing them with bad information, processing payments incorrectly and using deception to direct borrowers away from plans offering lower monthly payments. Navient has denied the allegations, saying that the lawsuit is politically motivated and that new servicing standards were retroactively and selectively applied.