Student Loans

摘要

The U.S. government's $1.3 trillion student loan program has a dizzying array of repayment plans that can overwhelm borrowers. That's one of the things loan servicers are supposed to help with. Navient, the nation's largest student loan servicer, handles accounts for more than 1 in 4 Americans who owe money for their higher education. The company sends borrowers their monthly bills, collects payments, and counsels them on their options. Government lawsuits filed on Jan. 18 accuse Navient of taking shortcuts that minimized its costs. They say that hurt some borrowers who could have paid off debt more quickly, while simultaneously putting distressed borrowers in more debt by steering some into plans that put off payments-leading to ballooning balances-instead of income-based repayment programs. Regulators estimate that households' debt burden may have been inflated by billions of dollars.