DeVos modified the plan to let one supplier so you’re able to solution all the government college loans, a shift she said carry out improve support service, restrict can cost you and you can boost government oversight of servicers
AUGUSTA, Maine (AP) – The country’s prominent servicer regarding federal college loans has actually lobbied facing states’ perform so you’re able to permit education loan servicers during the Maine and elsewhere this year since it aims to become the country’s single servicer away from student loans significantly less than a strategy backed by U.S. Education Assistant Betsy DeVos.
State information assessed because of the Associated Drive inform you Navient Corp. enjoys claimed using at least $forty-two,000 since the January on lobbyists into the Maine, Nyc and you will Arizona, claims where lawmakers are considering certification criteria.
Lawmakers in 2010 features experienced instance certification and supervision expense from inside the about ten claims, including Illinois and you will Arizona, whoever condition lawyer standard has entered the user Financial Protection Bureau because of the processing legal actions accusing Navient of unfair and you can deceptive techniques having credit and you can commercial collection agency.
Navient phone calls eg allegations untrue and you can politically motivated. Spokeswoman Nikki Lavoie said Navient provides served student loan coverage reform in order to explain repayment and higher inform borrowers.
“We have engaged regional image in a few claims to be certain one to policymakers have the circumstances into student loan servicing just before they attempt to set upkeep requirements into the government college loans, that is planning lead to more complicated, difficult and you may fighting county-by-state techniques for individuals in order to navigate,” Lavoie told you. Continue reading Student loan servicer matches right back while the says eyes defenses