2015
Protection At Last for Veterans
Student Loan Lawyer / 0 Comments /Just today in the newspapers there was announced welcome relief to members and former members of the military who have student loans and were overcharged by Navient. The Justice Department announced that it reached a settlement with Navient to compensate servicemen and servicewomen with student loans. Navient was found to be overcharging these folks by calculating amounts due based upon interest rates in excess of the the 6 percent permitted by law. There is a statute that was passed by Congress called the “Servicemembers Civil Relief Act (“SCRA”) that protects members or former members of the service. Pursuant to the settlement, Navient will be required to make payments to individual members of the service ranging in amounts from $10 to $100,000 depending upon the particular amounts overcharged. The average payout will be $771 dollars. Checks are to be mailed on June 15, 2015. Certainly, Navient engaged in gross misconduct here. Fortunately, it would appear that the federal government is finally stepping up to the plate by taking on the student loan giant Navient. So, if you are a veteran reading this and have not yet engaged in the process of making a claim, you can call the Justice Department to get information on how to do this at 855-382-6421. Good luck!
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