News : Financial Readiness

DOJ and CFPB Reach Settlement with Navient - 77,795 Servicemembers Begin Receiving $60 Million

Friday, May 29, 2015  
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DOJ and CFPB Reach Settlement with Navient - 77,795 Servicemembers Begin Receiving $60 Million (Corrected Link)

A referral of servicemember complaints from the Consumer Financial Protection Bureau’s Office of Servicemember Affairs, headed by Holly Petraeus leads to a settlement with Navient for overcharging on student loans. Beginning this June, 77,795 service members will begin receiving $60 million in compensation for having been charged excess interest on their student loans by Navient Corp., the student loan servicer formerly part of Sallie Mae. 

 

Read the full story: http://www.justice.gov/opa/pr/nearly-78000-service-members-begin-begin-receiving-60-million-under-department-justice


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