We recently told you about the Consumer Financial Protection Bureau’s lawsuit against Navient. The bureau accuses the company of “systematically and illegally failing borrowers at every stage of repayment.” The allegations include student loan borrowers complaining of lost paperwork, misapplied payments,...
Consumer Fraud Forum Blog
The Consumer Financial Protection Bureau is suing the nation’s largest student loan servicer. The agency has accused Navient Corp. of “systematically and illegally failing borrowers at every stage of repayment” and wants the company to compensate the borrowers it says were harmed.
The Federal Trade Commission has announced that DeVry University has agreed to pay $100 million to settle a lawsuit that accused the for-profit school of misleading students.
Although student debt remains an issue for millions, a new report shows one positive development. Fewer students are borrowing money from commercial banks to pay for their tuition.
Colleges and universities around the nation are starting a new fall semester, but ITT Tech is shutting its doors. The for-profit technical school announced it is closing all 137 campuses around the country.
With graduates responsible for more than a trillion dollars of student debt, the student loan debt relief industry is turning into big business for some unsavory players. The pressure to make large monthly payments coupled with an often confusing and difficult student loan process makes many borrowers prime...
Students defrauded or misled by their colleges will soon have a clearer path to loan forgiveness according to rules issued earlier this month by the Obama administration. The rules also create a financial backstop to ensure that schools, not taxpayers, are responsible for the debt.
Sallie Mae, now Navient, has taken some serious heat over the past few months following allegations it overcharged its service members for their student loans. If you find yourself burdened by the repayment of student loans, you are not alone. There are about 40 million Americans who owe financial...
The economy is improving and so Washington is removing protections for average Americans who are still trying to recover financially from the Great Recession. Following the financial crisis Congress decided that consumers and household borrowers needed more protection from the financial industry.
The student loan crisis in America is often viewed as a problem of wastefulness combined with predatory loans resulting in mounting unmanageable student loan debt.