Tell the Department of Education to Fire Navient!
Petition by StudentDebtCrisis.org
We demand that the Department of Education fire Navient and review all contracts with student loan companies that do business with the federal government. The Department must take serious efforts to keep “bad actors” accountable for scamming students in order to prevent waste, fraud, and abuse. Further, lucrative loan servicing contracts should only be given to companies that hold the interests of student loan borrowers first.
Betsy DeVos’ Department of Education must take immediate action!
Mounting evidence shows that Navient has been ripping off federal student loan borrowers for many years. Yet, the Department of Education continues to reward companies like Navient with servicing contracts worth hundreds of millions of taxpayers’ dollars. Simply put, these corporations get richer as student loan borrowers suffer.
Recently, Navient publicly stated, “There is no expectation that the servicer will act in the interest of the consumer.” The company has proven time and time again that it is more concerned about their bottom line than helping Americans manage their debt. In their pursuit of profits, Navient has illegally harmed millions of student loan borrowers. To-date the company has been charged with:
- Harming servicemembers including ruining their credit scores due to clerical errors.
- Steering borrowers away from lower monthly payments by directing them toward forbearance instead of federal loan repayment options.
- Miscommunication and failure to communicate vital deadlines that impact borrower's bottom line.
- Misapplied payments that lead to late charges and more fees incurred to student loan borrowers.
Secretary of Education Betsy DeVos needs to hear from as many Americans as possible that it is unacceptable for the Department of Education to be in business with a company that takes unfair advantage of taxpayers, students, members of the military, as well as minority and low-income borrowers.
Tell Secretary Betsy DeVos to fire Navient!