Here’s another way student loans are screwing you over

Source: James Leggate - Fox Business

A nonprofit group is accusing a company that processes student loans of cheating borrowers with what it called “unnecessary interest charges,” while the business is accusing the group and federal officials of mischaracterizing an outdated document.

An internal memo was recently unsealed as evidence in an ongoing court case between the Consumer Financial Protection Bureau and Navient, which describes itself as “a leader in education loan management.”

According to the Student Borrower Protection Center, a consumer advocacy group, the memo shows that Navient “orchestrated a predatory scheme to place borrowers in high-cost repayment options to boost corporate profits.”

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