09-13-2022, 05:10 PM
wurm wrote:
I’ve been paying for 20 years, and still owe the original amount I borrowed.
This is a crime, pure and simple. The only thing missing is Vinnie paying you a visit.
There are reasons Sallie Mae and Navient that they spun off about a decade ago have been sued multiple times. The latest against Navient resulted in a nearly $2 billion settlement.
Quite the usual result of an organization taken out from under close government oversight. Sallie Mae started as a government sponsored entity to service student loans. Durig the '90s push to deregulate everything they went private and started making non-federal student loans alongside the loans they were servicing. Since then they have lost the contract to service federal loans. Navient is also out of servicing these loans, or in the process of transferring them.