Student Loan Giant Navient Cheated Borrowers

The Consumer Financial Protection Bureau (CFPB) recently filed suit against Navient, the nation’s largest student loan servicer, and Pioneer Credit Recovery, its collection arm, for systematically and illegally failing borrowers at every state of repayment.

Among the allegations, the Bureau charges that Navient:

  • Failed to correctly apply or allocate borrower payments to their accounts.
  • Steered struggling borrowers toward paying more than they have to on their loans.
  • Obscured information that consumers needed to maintain their lower payments.
  • Deceived private student loan borrowers about requirements to release their co-signer from the loan.
  • Harmed the credit of disabled borrowers, including severely injured veterans.

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HELP! Steps to Take

Student Loan Servicing Errors

File complaints in writing to:

Credit Report Errors

Request current copies of your credit reports from Transunion, Experian, and Equifax.