Navient Loan Forgiveness
For Private Student Loans
Timeline of Events
Navient is created by the split of Sallie Mae into two distinct entities, Sallie Mae Bank and Navient.
Navient’s Moody’s investor service downgrades senior unsecured debt and corporate family rating to Ba3 because of its loss of earning, cash flows, equity and high leverage.
Navient celebrates student loan success.
CEO Jack Remondi two year compensation from Navient is $11.9 million.
Consumer Financial Protection Bureau sends Navient a letter telling its executives that the agency’s enforcement staff has found evidence to indicate the company violated consumer protection laws.
The United States Department of Justice announces nearly 78,000 military service members would begin receiving $60 million in compensation for being charged excess on their student loans from Navient.
Senator Elizabeth Warren calls for a total reform of student loan servicing to make sure another Navient disaster does not happen again.
A class action lawsuit has been filed alleging Sallie Mae and Navient inappropriately charged a 5% late fee when certain borrowers missed a payment.
Current total assets of Navient are worth $146.4 billion with 12 million customers.
In cases of for-profit school closures: You may qualify for one of the private student loan forgiveness programs.
If you went to a for-profit college and took out a Navient private loan, you may qualify to have your loan invalidated.