When Sallie Mae turns over student loans to loan sharks like Navient, what is the recourse for those paying the loans?
- nancyLv 75 years agoFavorite Answer
Navient and Sallie Mae are actually both parts of the same company. There was confusion because Sallie Mae is a private lender, but was also a servicer for federal student loans, so about a year ago the company split the two functions into separate entities. Sallie Mae is the half that does private student loans, and Navient is the half that provides servicing for federal student loans. So, your loans weren't actually turned over to anybody that didn't already have them--it's basically just a name change. There have been some servicing issues with Navient, but for the most part, they have been, or are currently being addressed. If you have specific issues that you haven't been able to resolve, you can contact the Student Loan Ombudsman Group, a federal Dept. of Education department that has been set up to help negotiate between borrowers and servicers. There is information about them here: https://studentaid.ed.gov/sa/repay-loans/disputes/...
- yLv 75 years ago
Funny thing is, reading through the complaints, almost all of them owe and get all prissy becouse the company wants there money. I didn't receive my mortgage bills for 6 months, every time I contacted them about it I got a run around, but I still managed to pay them, that is what a responsible person does, they find a way to meet their obligations. I only dealt with Navient for a year or so before we just paid off our remaining student loans, never had an issue with them.