Members of the American Federation of Teachers filed a lawsuit against student loan servicer Navient Corp., claiming it misled borrowers in public service professions from accessing a loan forgiveness program to boost its own profits.
The lawsuit, filed Wednesday in U.S. District Court in New York, focuses on the assertion that Wilmington, Del.-based Navient (NASDAQ:NAVI) prevented borrowers from enrolling in Public Service Loan Forgiveness, a 10-year payoff plan administered by rival servicer FedLoan.
