NJ Slams Navient With Fraud Suit Over Deceptive Practices

Law360 (October 20, 2020, 7:22 PM EDT) -- Student loan servicer Navient Corp. was hit with a consumer fraud suit from the New Jersey attorney general Tuesday alleging the business engaged in "unconscionable" practices that saddled borrowers with higher payments over the past decade as outstanding student loan debt skyrocketed across the nation.

New Jersey Attorney General Gurbir S. Grewal outlined four ways in which the Delaware-based company allegedly duped Garden State consumers, including by directing borrowers facing financial troubles into forbearance instead of more affordable income-driven repayment plans and by misrepresenting the amount of required payments at a given time.

"As a result of Navient's unlawful practices, a...

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