According to a Reuter’s press report, U.S. Democratic presidential candidate Hillary Clinton said during a student town hall recently that student loan servicer Navient Corp. has been “misleading people” and “doing some really terrible things.”
“Their behavior is outrageous, “Clinton reportedly said at New England College, where she was campaigning ahead of the state’s nominating contest on Tuesday, Feb. 9.
Navient is a publicly traded U.S. corporation based in Wilmington, Delaware whose operations include servicing and collecting on student loans.
Managing nearly $300 billion in student loans for more than 12 million customers, the company was formed in 2014 by the split of Sallie Mae into two distinct entities, Sallie Mae Bank and Navient.
Navient employs 6,000 individuals at offices across the U.S. It is not accredited by the Better Business Bureau.
In August 2015, the Consumer Financial Protection Bureau, which has been investigating the company for nearly two years, sent Navient a letter telling its executives that the agency’s enforcement staff had found enough evidence to indicate the company violated consumer protection laws.
Clinton’s criticism of the student loan servicer comes after she lost badly among young voters to Democratic challenger Bernie Sanders in last week’s Iowa caucus. She received 11 percent of the vote among 17 to 24 year olds who caucused in Iowa versus 86 percent who supported Sanders, according to a NBC News exit poll.
Clinton’s statements came in the response to a question from the audience related to student debt.
“We understand the politicization of student loans, but we remain focused on delivering excellent service to our customers,” said Navient spokeswoman Patricia Christel in a statement, inviting Clinton to come meet their “hardworking employees and learn firsthand about our industry-leading default prevention work.”
Yvad Billings Readers Bureau, Fellow
Edited by Jesus Chan
Edited by Jesus Chan
Do you want to add feedback to this story? Please add comment in box below.
Like our Facebook page https://www.facebook.com/TheReadersBureau
Follow us on Twitter https://twitter.com/readersbureau21