Diamond Member Pelican Press 0 Posted September 16, 2024 Diamond Member Share Posted September 16, 2024 This is the hidden content, please Sign In or Sign Up How Navient student loan borrowers can qualify for $120 million settlement The Consumer Financial Protection Bureau last week said it had reached a $120 million settlement with student loan giant Navient that could lead to compensation for hundreds of thousands of borrowers. The CFPB accused Navient of steering student loan borrowers into expensive forbearances, miscalculating their bills and tarnishing their credit reports. Under the terms of the This is the hidden content, please Sign In or Sign Up , Navient is banned from servicing federal student loans ever again. A Navient spokesperson said the company disagreed with the consumer watchdog’s charges. As part of the deal, $100 million will be used to make payments to impacted customers, as determined by the CFPB. The remaining $20 million will go to the CFPB’s This is the hidden content, please Sign In or Sign Up . Here’s what to know about the bureau’s upcoming relief. Who may qualify for the checks The CFPB has not spelled out who will be eligible for the consumer redress, explained higher education expert Mark Kantrowitz. Still, “there are some clues in the settlement,” about who might receive the checks, he said. Borrowers may not need to apply for relief “It is likely that eligible borrowers will be identified automatically,” Kantrowitz said. That means borrowers shouldn’t have to do anything to get the compensation. The CFPB also warned people not to This is the hidden content, please Sign In or Sign Up “The CFPB will never require consumers to pay money to obtain redress, nor will we ask for additional information before consumers can cash a redress check that we’ve issued,” the bureau wrote. This is the hidden content, please Sign In or Sign Up #Navient #student #loan #borrowers #qualify #million #settlement This is the hidden content, please Sign In or Sign Up This is the hidden content, please Sign In or Sign Up Link to comment https://hopzone.eu/forums/topic/127601-how-navient-student-loan-borrowers-can-qualify-for-120-million-settlement/ Share on other sites More sharing options...
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