Teachers union files class action against Navient

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.


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