Question: Dear Steve, I have eight private student loans past the statute of limitations, which fell off my credit report, with interest combined to over $200,000 debt value. One loan, the largest loan in my account, has been forgiven by Navient, which I recently learned via email. I wanted to share this email with you, … Read more
Question: Dear Steve, I attended the Los Angeles Film School, a for-profit trade school for aspiring creatives who want to get into the entertainment business. Unfortunately, before going to school, I was lured in by the same predatory practices that enticed me when I was 19. 11 years later, I am still in debt with … Read more
Question: Dear Steve, I’m retired Air Force and went back to school after I retired. I didn’t have the GI Bill, so I had to finance my schooling through loans. The worst part is I went to the Art Institute in 2006 or so and then made the mistake of attending that school again and … Read more
People are so confused by the announcement of the giant Navient student loan $1.7 billion settlement. See my post on the announcement, here. Here is the reality, even the Aidvantage website is punting on what this actually means. The website says people need to go to NavientAGSettlement.com for information. I know you are looking for … Read more
It was announced today that many, but not all states that participated in a lawsuit against Navient in 2017. At the time Navient called the suit, “completely unfounded” but the announcements today reflect the opposite. Details of Settlement We have both a lot of information and a lot of unanswered questions about how all of … Read more
Q: Is it legal for a mortgage company to all of a sudden demand a deferment balance from 10 years ago now, or will they foreclose on the home I am one month behind on the monthly payment? A: That sounds a lot like a balloon mortgage (a mortgage in which a large portion of … Read more
Question: Dear Steve, I have worked with Damon Day for a year, and he finally got me a solution with Navient for my student loans. It was unbelievable, too good to be true. I have given 5,000 as a down payment tomorrow to Navient, and I’m terrified. But Damon Day is for real, isn’t he? … Read more
Aidvantage is the fictitious name of the registered company Maximus Education LLC. It was recently announced Aidvantage would take over the servicing and maintenance of federal student loan accounts currently managed by Navient. Navient currently says, “This winter, Aidvantage will begin servicing your student loans owned by the Department of Education (ED) instead of Navient.” … Read more
Question: Dear Steve, I have student loans from 40 years ago that has gone from 18k to over 70k. I also have 1 loan for my son’s freshman year of college, now about 18k. I paid some of mine years ago but then went through a time of multiple layoffs and low-paying jobs in the … Read more
Question: Dear Steve, I went to High Point University in NC a private institution in 2012. Graduated finally in Dec 2017. I of course took out student loans both federal and private. Private being Sallie Mae. I came home in Dec 2017 after graduation had no job for 2 months and Sallie wanted payment because … Read more
Question: Dear Steve, I owe Navient over $80,000 in student loans. I stopped paying in 2018 because they misallocated one of my payments. They called people who were not listed on my MPNs. When I asked a supervisor about repayment options, I was told it was at their discretion what they tell me about all … Read more
This suit filed against Sallie Mae Student Loan Corporation, Ascension, Navient, Equifax Information Services, Pioneer Credit Services, Trans Union, and Experian Services Corporation would be unbelievable if all the facts asserted are proven true. I’ll keep an eye on this suit but for now, here is what we do know. In Texas, in December 2020 … Read more
In a bold move, attorney Austin Smith has filed an involuntary Chapter 11 bankruptcy case against Navient Solutions on behalf of student loan debtors. While this is early days and Navient has not had an opportunity to wrangle its the massive legal department to respond yet, they will. And I think it is safe to … Read more
Question: Dear Steve, I am a student loan holder, in re-payment since 2005. My loans were Federal Direct Subsidized Student Loans that were consolidated, and are currently owned by Deutsche Bank (serviced by Navient). This may be of interest to your readers. There have been various conversations around student-loan forgiveness. From what I have heard … Read more
Question: Dear Steve, Sallie Mae->Navient steered me into and consolidated my student loans, 7% interest-been paying for 22 years on one and since they consolidated when I finished my MS in 2007, looks like it’s only been 13 years. Now I’m a lung cancer survivor, 61 years old with ongoing health problems and the balance … Read more