Student Loan Repayment Options In Light Of CFPB V. Navient

Law360, New York (March 30, 2017, 12:37 PM EDT) -- On Jan. 18, 2017, the Consumer Financial Protection Bureau filed a complaint against student loan servicer Navient Corporation, Navient Solutions Inc. and Pioneer Credit Recovery Inc. that, among other allegations, claims that "Navient's acts and practices related to steering of borrowers into forbearance caused or was likely to cause substantial consumer injury."[1] The CFPB's argument states that "since at least July 2011, despite publicly assuring borrowers that it will help them identify and enroll in an appropriate, affordable repayment plan, Navient has routinely disregarded that commitment and instead steered borrowers experiencing long-term distress or hardship into forbearance."[2]...

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