Last Thursday, AFT stood up for student borrowers at Navient’s annual shareholder meeting, telling the largest federal student loan servicer, one with a reputation for abusive practices toward its 12 million borrowers, that it needs to do better. The company is being sued by the attorneys general of three states for illegally steering borrowers into expensive programs that leave them in even more debt, instead of directing them to better income-based plans. And according to the federal Consumer Financial Protection Bureau, Navient is the nation’s most complained-about financial company.
Helping members manage student loans is one of our union’s top priorities. For the last several years, AFT has held student debt clinics across the country, including working with us here in Michigan to help borrowers who have been the victims of predatory lending practices gain access to debt relief. Now we want to take the next step to fight back against the predatory lenders and loan servicers that are hurting working people.
Take this important survey to help us expand our programs so we can help more members struggling with debt.
We are committed to taking on Navient and other financial institutions that make money by putting members and communities into unsustainable debt arrangements. Thank you for taking the time to make your voice heard.