Given that this settlement will not fully compensate or remedy the harms inflicted by Navient on student borrowers, and in light of ED's repeated failures to address Navient's predatory practices, ED has the responsibility to use its tools to make things right for Navient's victims, and the ability to do so. For example, ED should consider taking a page from its recent decision to provide a limited Public Service Loan Forgiveness (PSLF) waiver that will allow eligible borrowers' prior payments to count toward loan forgiveness. This PSLF waiver will provide relief to more than 500,000 public servants across the country.
The Navient settlement comes at a critical time. While ED made the right decision to extend the student loan payment pause through , about half of all federal student borrowers are at risk of falling behind on their loans once monthly payments resume. It is urgent that ED take action to redress Navient's victims for the full scope of the https://getbadcreditloan.com/ financial injury they experienced. To ensure the Department does so on a timely basis, we are seeking information on ED's plans to make these borrowers whole. We ask that you provide answers to the following questions no later than :
1. How many will not receive loan forgiveness? How many will not receive restitution? Please provide state-level estimates of the number and percent of all borrowers who will not receive forgiveness and the number and percent who will not receive restitution.
2. What actions will ED take to provide relief to student loan borrowers who were harmed by Navient? Continue reading "How many student loan borrowers do you estimate will not receive any relief from the multi-state settlement against Navient?"