In this article
Some student loan borrowers can soon expect a check in the mail, more than a year after the Consumer Financial Protection Bureau reached a $120 million settlement with former federal servicer Navient
The CFPB said Navient steered student loan borrowers away from affordable repayment plans and into expensive forbearances, causing many to pay steep interest charges.
“People suffered real consequences — delaying children, not buying homes or returning to school when they wanted to, and more,” said consumer advocate Julia Barnard, who was the top student loan official at the CFPB when the settlement was announced.
“These checks are necessary and will help make debtors whole after the harm they faced due to Navient’s misconduct.”
