Even Borrowers Agree, Student Debt Is Worth It

FILE – In this May 15, 2016 file photo, students embrace as they arrive for the Rutgers graduation ceremonies in Piscataway, N.J. ASSOCIATED PRESS The amount of student debt, in raw, cumulative dollars is unquestionably growing, inching above $1.5 trillion. As a result, you cannot find anyone in the press, punditry and political class who has not declared student debt a “crisis” or a “big problem” or a “warning sign” or something. Maybe it is. But it is not a bad investment. In fact, the incessant drum beat around a…

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Navient lawsuit: What student loan borrowers need to know

Navient Corp., the nation’s largest student loan servicer, is facing three lawsuits alleging that it harmed student loan borrowers throughout the repayment process. The U.S. Consumer Financial Protection Bureau and the Illinois and Washington attorneys general sued Navient in January. Among other things, the CFPB alleges that since at least January 2010, Navient misallocated payments, steered struggling borrowers toward multiple forbearances instead of income-driven repayment plans, and provided unclear information about how to re-enroll in income-driven repayment plans and how to qualify for a co-signer release. The CFPB is asking…

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Harmed by Navient? What student loan borrowers need to know

The U.S. Consumer Financial Protection Bureau is suing Navient Corp., the nation’s largest student loan servicer, accusing it of “systematically and illegally failing borrowers at every stage of repayment,” according to a press release Wednesday. The CFPB is asking Navient to compensate the borrowers the agency says were harmed. Among other things, the CFPB alleges that since at least January 2010, Navient misallocated payments, steered struggling borrowers toward multiple forbearances instead of income-driven repayment plans, and provided unclear information about how to re-enroll in income-driven repayment plans and how to qualify…

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Naming, shaming student borrowers a human rights violation: NHRC

Chennai: Terming the bankers practise of “naming and shaming” of students who defaulted on repaying education loans as violation of human rights, the National Human Rights Commission (NHRC) has issued notice to the Central Bank of India chairman. It has also issued notices to the district magistrate and superintendent of police of Nilgiris district in Tamil Nadu and the manager of Central Bank of India`s Majoor Branch, Nilgiris. In a statement, the NHRC said it has taken cognizance of a complaint alleging harassment by Central Bank of India by a…

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Naming, shaming student borrowers a human rights violation: NHRC

Chennai: Terming the bankers practise of “naming and shaming” of students who defaulted on repaying education loans as violation of human rights, the National Human Rights Commission (NHRC) has issued notice to the Central Bank of India chairman. It has also issued notices to the district magistrate and superintendent of police of Nilgiris district in Tamil Nadu and the manager of Central Bank of India`s Majoor Branch, Nilgiris. In a statement, the NHRC said it has taken cognizance of a complaint alleging harassment by Central Bank of India by a…

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