The settlement benefits individuals who had Federal Family Education loans or Direct Loans serviced by Navient, were eligible for public service loan forgiveness because of current or former full time employment, and spoke to a Navient customer service representative about Navient loan forgiveness since Oct. 1, 2007. This settlement Class is estimated to include 324,900 people.
Plaintiffs filed their Navient loan forgiveness class action lawsuit in October 2018. according to the plaintiffs, the federal loan servicer misled borrowers about public service loan forgiveness – causing consumers to overpay on their student loans.
The plaintiffs argue that Navient knew that certain borrowers were eligible for public service loan forgiveness supported their employment. However, despite this data , Navient allegedly didn’t give information to borrowers about how they could maximize this opportunity . As a result, Class Members reportedly paid higher payments on their student loans which could are forgiven.
“Navient has not been living up to its obligation to help vulnerable borrowers get on the only possible repayment plan and qualify for PSLF,” the Navient loan forgiveness class action lawsuit contends.
If you happen to have a large amount of student loan, then you might be highly interested in reducing your monthly loan payments or getting out of debt as fast as possible. Having a student loan down your throat can be a cause of constant stress and anxiety while stopping your financial growth. If the company Navient has serviced your loans, you are probably aware of Navient lawsuit by now and that those loans can be forgiven under certain circumstances. However, achieving Navient loan forgiveness might be a challenging process for students and is more problematic than it may sound. It is vital to comprehend how you and your debt fit in. As of May 2018, there are four Navient lawsuits each of them blaming the company of hurting student loan borrowers during the process of repayment and demanding Navient loan forgiveness.
Navient lawsuit was started in August 2015 when The Consumer Financial Protection Bureau or CFPB discovered a piece of hard evidence illustrating how the company is violating consumer protection laws. The Navient lawsuit can take a lot of time to conclude, and a lot of student loan borrowers are rightly concerned about the future outcome of the Navient lawsuit process.
The good news is, Navient’s request to dismiss the lawsuits which are pointed against them was denied. The Navient Corporation was claiming that States cannot control their business operations hoping to reject Navient lawsuit. What does that mean then? Well, it boosts the probability that Navient will eventually be forced to provide immense payouts to its harmed borrowers so you can get loan forgiveness. This indicates and makes clear that student loan servicers aren’t immune to the laws of the state and must be held accountable for their wrongdoings.
This is an outstanding piece of news which means we are going on the right path to receiving loan forgiveness. However, there is a small problem. The Education Department doesn’t accept Borrower’s Defense to Repayment Discharge applications which are against Student Loan Servicing Companies. It means the optimal way to get Navient loan forgiveness by pursuing a case against them is no longer an option. What you can do is to apply one against your school.