Navient, one of the largest student loan servicers, will cancel $1.7 billion in private student loans after a deal it reached with 39 states. The lender was accused of giving out private loans to students who would be unable to pay them. As part of the settlement, Navient denied ...
Earlier this year, some federal student loan servicers — like Navient, the Pennsylvania Higher Education Assistance Agency (often referred to as FedLoan) and Granite State Management & Resources — announced they wouldnot renew their contracts with the U.S. Department of Educationwhen they ...
The two companies handle student loan payments from millions of borrowers. "At every stage of repayment, Navient chose to shortcut and deceive consumers to save on operating costs," said Richard Cordray, the director of the Consumer Financial Protection Bureau, which brought the federal suit. ...
It is important to note that Navient is not the original lender. They acquire the loans from other financial institutions, such as banks or the federal government. Once Navient acquires the loans, they become the loan servicer, responsible for managing all aspects of the loan until it is full...
As time went by, Earnest grew and was ultimately purchased by Navient, a massive student loan company with a questionable reputation. Unsurprisingly, the$155 million purchase of Earnesthas led to some changes. Some Earnestcustomers now complain that things are less consumer-friendly and less transpa...
The Navient Discharge Program The National Collegiate Trust Discharge Program The Aequitas Capital Discharge Program Like I mentioned earlier, these programs let you wipe out your student loan debt in an instant, but the downside to Discharge programs is that they’re much more difficult to qualify...
Let's break down the four main ways to get student loan forgiveness for teachers, what the other options are, and how to get professional help if you want it. Would you like to save this? We'll email this article to you, so you can come back to it later! I agree to be sent ema...
Traditionally, lenders charged an application fee, but newer companies like Sofi are shifting away from those additional charges. Your application information will help a private lender determine your eligibility for a student loan from them. It also allows them to run a credit history check on ...
Student-Loan Servicer Navient May Face CFPB LawsuitByline: Darren Waggoner The Consumer Financial Protection Bureau is considering suing...Waggoner, DarrenStructuredfinancenews Com
Out of 6,700,000 customers, the Consumer Financial Protection Bureau (CFPB) received 1,162 complaints in 2022 about Navient, the parent company of Earnest, for a variety of different reasons.23 Applying for an Earnest Student Loan Applying for an Earnest student loan is a completely online pro...