Sallie Mae, Navient To Pay $97M To Settle Servicemember Student Loan Violations

Sallie Mae, Navient To Pay $97M To Settle Servicemember Student Loan Violations

Taking advantage of members of the military isn’t looked upon lightly by federal regulators. This idea was driven home today by the Depts. of Education and Justice, and the Federal Deposit Insurance Corp., who jointly announced a sizable settlement against student loan servicers Sallie Mae and Navient for overcharging and imposing excessive fees to military members.
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Sallie Mae’s Federal Loan Business Is Now Navient. What’s A Navient?

Sallie Mae’s Federal Loan Business Is Now Navient. What’s A Navient?

Sallie Mae is the country’s largest originator and servicer of student loans and a regular contender in our Worst Company in America tournament. They’re about to become two much-hated companies, spinning off their loan servicing, loan management, and collections as a new company called Navient. [More]