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.