Student Loan Servicing Fundamentals
U.S. Senator Elizabeth Warren
Navient, one of the biggest student loan servicers in the country, got caught cheating American soldiers on their student loans. Instead of holding Navient accountable, the Department of Education’s student loan bank covered for them in ways that independent investigators said were “unsupported and inaccurate.” It’s an outrageous story, but it’s not surprising. It’s long past time for the Department of Education’s bank to clean up its act and start running the student loan program to benefit students – not private companies like Navient. I’ve laid out five simple reform fundamentals to guide that effort. Everyone in government who is serious about standing up for the tens of millions of student loan borrowers in this country should embrace them. Link
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By Katie Lobosco - cnn.com
Click here to view the live stream and past video of the discussion on Periscope.
Senators: Education Dept Should Cut Off Aid to Colleges That Deny Students Their Day in Court2/16/2016 By David Halperin - Attorney, advocate, writer at RepublicReport.org - Huffington Post
By Shahien Nasiripour, Chief Financial and Regulatory Correspondent - The Huffington Post Student loan giant Navient Corp. plunged on Wall Street Thursday to an all-time low that for the first time was less than the company's book value.
Navient shares fell 6 percent to $10.27 as an influential progressive group urged states to crack down on the student loan servicing industry. Navient's most recent book value, an estimate of how much shareholders could fetch if the company were liquidated, was $10.73 per share, suggesting that investors now believe the company is worth less than the value of its assets. |
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