AG Ferguson files suit against Sallie Mae offshoot Navient Corp., announces scholar Loan Bill of Rights legislation
Lawsuit alleges numerous student that is deceptive lending, servicing and business collection agencies techniques
OLYMPIA — Attorney General Bob Ferguson filed a lawsuit against student loan servicer Navient Corporation, an offshoot of education-finance giant Sallie Mae today.
In addition, Ferguson additionally announced their agency-request education loan Bill of Rights legislation, introduced this session, to present more resources for pupils and establish requirements for education loan servicers like Navient.
“Enormous student-loan financial obligation is a concern for most Washingtonians, ” Ferguson stated. “i shall hold organizations accountable once they treat borrowers unfairly. ”
The lawsuit, filed today in King County Superior Court, accuses Navient, the nation’s biggest student-loan servicer, of lots of unjust and misleading methods. Those methods included improperly steering economically troubled pupils toward short-term forbearances, participating in aggressive and collection that is misleading and much more.
The lawsuit may possibly affect several thousand Washingtonians, including anybody who received private student education loans from Sallie Mae just before 2009 and those who have their loan serviced by Navient and it has skilled the so-called conduct. Read more →