By Andy Thomason. The U.S. Education Department has extended its contract with Navient, a student-loan servicer and collection agency that was formerly a division of Sallie Mae, despite allegations it has overcharged borrowers, The Wall Street Journal reports.
Navient’s work for the federal government was worth $106-million last year, and its contract would have expired this month. Sallie Mae, which in April was divided into two companies, Navient and Sallie Mae Bank, agreed last month to pay $97-million to settle claims that it had overcharged members of the armed services. More...
22 juin 2014
Despite Criticism, Education Dept. Extends Loan Contract With Navient
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