FOR IMMEDIATE RELEASE
CONTACT: Sabrina Calazans
Statement: Navient to stop servicing federal student loans, leaving a wake of confusion ahead of payments resuming
"We spent years fighting against Navient for abusing student loan borrowers while profiting from illegal business practices. The company preys on veterans, people with disabilities, and many others living on financial thin ice. Navient should be fired, they are quitting instead," said executive director Cody Hounanian.
"It should be good news that Navient will no longer service federal student loans. In reality, Navient is leaving student loan borrowers out to dry by walking away, in the middle of a pandemic, when borrowers need help most. The company’s last action is leaving a wake of confusion, uncertainty, and harm for borrowers and their families as we approach payments resuming again February 1."