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

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

Lawsuit alleges numerous student that is deceptive lending, servicing and commercial collection agency methods

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

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

“Enormous student-loan financial obligation is a problem for most Washingtonians, ” Ferguson stated. “i am going to hold businesses 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 unfair and misleading techniques. Those techniques included improperly steering financially troubled pupils toward short-term forbearances, participating in aggressive and collection that is misleading and more. Continue reading “AG Ferguson files suit against Sallie Mae offshoot Navient Corp., announces scholar Loan Bill of Rights legislation”