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Follow: @diamondcutmedia Navient, once one of the country’s largest student loan servicers, has reached a $120 million settlement with the Consumer Financial Protection Bureau (CFPB) — resulting in the company being permanently banned from servicing federal student loans. Mohela has also been banned from servicing thousands of student loans due to fraudulent, unethical, and misleading practices. Thousands of loans must be sold/transferred by the end of the year. 

Visit the bio link at @diamondcutmedia to get your student loans removed. (No matter the servicer)

In a settlement announced Thursday, the CFPB says that Navient would have to pay a $20 million penalty and provide $100 million in relief to those impacted borrowers. The bureau says it will mail checks to eligible borrowers, who do not need to take any action at this time.

The CFPB did not detail what borrowers would receive in terms of payments.

“By banning the notorious student loan giant from federal student loan servicing and ensuring the winddown of these operations, the CFPB will finally put an end to the years of abuse,” he added.

the CFPB alleges that Navient misled and harmed student loan borrowers by:

  Misleading borrowers
about income-driven repayment plans
  Botching payment processing
  Harming the credit of disabled borrowers, including severely injured veterans
  Deceiving borrowers about Navient’s requirements for cosigner release
  And, misleading borrowers about improving credit scores and the consequences of federal student loan rehabilitation

Student loan removal + Remove ANY Negative Credit Item - link in bio
$120,000 - $1,000,000 in Funding for your Corps and LLCs.
💎💎💎
 #diamondcutmedia
37
Follow: @diamondcutmedia Navient, once one of the country’s largest student loan servicers, has reached a $120 million settlement with the Consumer Financial Protection Bureau (CFPB) — resulting in the company being permanently banned from servicing federal student loans. Mohela has also been banned from servicing thousands of student loans due to fraudulent, unethical, and misleading practices. Thousands of loans must be sold/transferred by the end of the year. 

Visit the bio link at @diamondcutmedia to get your student loans removed. (No matter the servicer)

In a settlement announced Thursday, the CFPB says that Navient would have to pay a $20 million penalty and provide $100 million in relief to those impacted borrowers. The bureau says it will mail checks to eligible borrowers, who do not need to take any action at this time.

The CFPB did not detail what borrowers would receive in terms of payments.

“By banning the notorious student loan giant from federal student loan servicing and ensuring the winddown of these operations, the CFPB will finally put an end to the years of abuse,” he added.

the CFPB alleges that Navient misled and harmed student loan borrowers by:

  Misleading borrowers
about income-driven repayment plans
  Botching payment processing
  Harming the credit of disabled borrowers, including severely injured veterans
  Deceiving borrowers about Navient’s requirements for cosigner release
  And, misleading borrowers about improving credit scores and the consequences of federal student loan rehabilitation

Student loan removal + Remove ANY Negative Credit Item - link in bio
$120,000 - $1,000,000 in Funding for your Corps and LLCs.
💎💎💎
 #diamondcutmedia
310
Follow: @diamondcutmedia Navient, once one of the country’s largest student loan servicers, has reached a $120 million settlement with the Consumer Financial Protection Bureau (CFPB) — resulting in the company being permanently banned from servicing federal student loans. Mohela has also been banned from servicing student loans due to fraudulent, unethical, and misleading practices. All of their loans must be sold/transferred by the end of the year. 

Visit the bio link at @diamondcutmedia to get your student loans removed.

In a settlement announced Thursday, the CFPB says that Navient would have to pay a $20 million penalty and provide $100 million in relief to those impacted borrowers. The bureau says it will mail checks to eligible borrowers, who do not need to take any action at this time.

The CFPB did not detail what borrowers would receive in terms of payments.

“By banning the notorious student loan giant from federal student loan servicing and ensuring the winddown of these operations, the CFPB will finally put an end to the years of abuse,” he added.

the CFPB alleges that Navient misled and harmed student loan borrowers by:

  Misleading borrowers
about income-driven repayment plans
  Botching payment processing
  Harming the credit of disabled borrowers, including severely injured veterans
  Deceiving borrowers about Navient’s requirements for cosigner release
  And, misleading borrowers about improving credit scores and the consequences of federal student loan rehabilitation

Student loan removal + Remove ANY Negative Credit Item - link in bio
$120,000 - $1,000,000 in Funding for your Corps and LLCs.
💎💎💎
 #diamondcutmedia
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