{"id":70531,"date":"2017-04-04T18:58:38","date_gmt":"2017-04-04T22:58:38","guid":{"rendered":"https:\/\/stateofthenation2012.com\/?p=70531"},"modified":"2017-04-04T18:58:38","modified_gmt":"2017-04-04T22:58:38","slug":"student-debt-giant-navient-to-borrowers-youre-on-your-own","status":"publish","type":"post","link":"https:\/\/stateofthenation2012.com\/?p=70531","title":{"rendered":"Student Debt Giant Navient to Borrowers: You\u2019re on Your Own"},"content":{"rendered":"

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The servicer says publicly it wants to help you pay debt. In a government lawsuit, it has\u00a0a different message.<\/h3>\n

by Shahien Nasiripour<\/p>\n

Over the past several years, Jack Remondi, chief executive of student loan giant Navient Corp., has gone out of his way to tout the company\u2019s devotion to helping Americans cope with student debt.<\/p>\n

He\u2019s mentioned it in meetings with investors, on calls with Wall Street analysts, in testimony before Congress, and even on his Medium blog. \u201cAt Navient, our priority is to help each of our 12 million customers successfully manage their loans in a way that works for their individual circumstances,\u201d he said\u00a0March 20<\/a>.<\/p>\n

But faced with a potential multi-billion dollar lawsuit by the federal government for not living up to that mantra, Remondi\u2019s company, formerly an arm of student lender Sallie Mae, sang a different tune in court filings.<\/p>\n

Borrowers can\u2019t reasonably rely on America\u2019s largest student loan servicer to counsel them about their many options, Navient said on March 24 in a motion to dismiss the case, because its primary role is, after all, to collect their payments.<\/p>\n

\u201cThere is no expectation that the servicer will act in the interest of the consumer,\u201d Navient said in response to the litigation filed Jan. 18<\/a> by the U.S. Consumer Financial Protection Bureau.<\/p>\n