Saturday 15 December 2018
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wn.com - 25 days ago

AP Exclusive: Gov t questions unfair student loan practices

NEW YORK (AP) — One of the nation s largest student loan servicing companies may have driven tens of thousands of borrowers struggling with their debts into higher-cost repayment plans. That s the finding of a Department of Education audit of practices at Navient Corp., the nation s third-largest student loan servicing company. The conclusions of the 2017 audit, which until now have been kept from the public and were obtained by The Associated Press, appear to support federal and state lawsuits that accuse Navient of boosting its profits by steering some borrowers into the high-cost plans without discussing options that would have been less costly in the long run. The education department...

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