January 19, 2017
Crippling student loan debt was a hot topic this past election cycle, so much so that it helped spark discussions about “reigning in college costs.” Considering the fact that the total outstanding student loan debt in the United States clocks in at more than $1.4 trillion, reigning in costs would be a great idea, as would solutions to help make student loan payments a bit more bearable for borrowers who are struggling month to month in order to make their payments. The student loan debt crisis isn’t new, though. It’s been gaining attention for years. What is new, however, is news that one of the nation’s largest servicer of student loans, Navient, has been misleading student loan borrowers and making “serious mistakes at nearly every step of the collections process” and “illegally driving up loan repayment costs for millions of borrowers” for years, according to lawsuits filed recently “by a federal regulator and two state attorneys general.”