AG Ferguson files suit against Sallie Mae offshoot Navient Corp., announces scholar Loan Bill of Rights legislation

Lawsuit alleges numerous misleading education loan lending, servicing and business collection agencies techniques

OLYMPIA — Attorney General Bob Ferguson today filed case against education loan servicer Navient Corporation, an offshoot of education-finance giant Sallie Mae.

In addition, Ferguson additionally announced their agency-request education loan Bill of Rights legislation, introduced this session, to offer more resources for pupils and establish requirements for education loan servicers like Navient.

“Enormous student-loan financial obligation is a problem for all Washingtonians, ” Ferguson stated. “i am going to hold organizations accountable if they treat borrowers unfairly. ”

The lawsuit, filed today in King County Superior Court, accuses Navient, the nation’s student-loan servicer that is largest, of lots of unjust and misleading techniques. Those techniques included improperly steering economically troubled pupils toward short-term forbearances, doing aggressive and deceptive collection strategies and much more.

The lawsuit may possibly affect 1000s of Washingtonians, including anybody who received personal student education loans from Sallie Mae just before 2009 and whoever has their loan serviced by Navient and contains skilled the conduct that is alleged. Continue Reading