Navient quits its job which affects a lot millions of student loan borrowers
Millions of Student Loan Borrowers Accounts. (PHOTO: Business Insider Africa)
According to Washington Examiner, a big company that lends money for millions of student loan borrowers. MOHELA will be in charge of their student loan business, which will touch 2.7 million people. Navient says this will make things easier, save money, and give you more financial freedom. The loan will be given to MOHELA this year and last for 18–24 months. Navient will still own it.
READ ALSO: Boost Child Tax Credit: $3,500 Payments Coming, State-Dependent – Check Your Eligibility!
People were afraid that MOHELA would take over.
MOHELA’s past problems are making people worry. The Department of Education didn’t give them $7.2 million because they billed some people late. Almost 800,000 people missed payments. Some people don’t like MOHELA’s service because of long wait times on the phone and mistakes with bills.
READ ALSO: Proposed Oregon Tax Revenue Bill: Salem’s Financial Struggle Gets A Boost
Millions of student loan borrowers are being watched by everyone.
Millions of student loan borrowers will be there to see Navient hand over the task to MOHELA. Navient’s move is part of bigger changes being made to how student loans are managed. Loans are getting more attention, and a lot of people think that stricter rules are needed to protect customers.
