Advocates Applaud CFPB Lawsuit against Navient for Failing Student Loan Borrowers, Especially Disabled Students and Veterans
National Consumer Law Center Contacts: Persis Yu (This email address is being protected from spambots. You need JavaScript enabled to view it.) or Jan Kruse (This email address is being protected from spambots. You need JavaScript enabled to view it.); 617.542.8010
Advocates Applaud CFPB Lawsuit against Navient for Failing Student Loan Borrowers, Especially Disabled Students and Veterans
The following statement is issued by Persis Yu, director of National Consumer Law Center’s Student Loan Borrower Assistance Project in response to today’s announcement that the Consumer Financial Protection Bureau is suing Navient, the nation’s largest servicer of student loans.
We applaud the Consumer Financial Protection Bureau for taking critical steps to protect student loan borrowers who have been harmed by Navient’s practices, which created obstacles to repayment by providing bad information, processing payments incorrectly, and failing to act when borrowers complained. It is especially distressing that Navient misreported to credit reporting companies loan defaults by disabled borrowers, including severely injured veterans, who were entitled to loan discharges.