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Student education loans: just exactly What Navient borrowers have to know

29 Jun , 2020,
Beth Weissman
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Student education loans: just exactly What Navient borrowers have to know

Figuratively speaking. (picture: Getty Images/iStockphoto)

The U.S. Customer Financial Protection Bureau is suing Navient Corp., the nation’s largest student loan company, accusing it of “systematically and illegally failing borrowers at every phase of payment, ” according to a news release Wednesday. The CFPB is asking Navient to pay the borrowers the agency states had been harmed.

The CFPB alleged that since at least January 2010, Navient misallocated payments, steered struggling borrowers toward multiple forbearances instead of income-driven repayment plans, and provided unclear information about how to re-enroll in income-driven repayment plans and how to qualify for a co-signer release among other things.

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