Navient, spun off from Sallie Mae, has thrived as student loan debt spirals across the US. Its story reveals how, instead of fighting inequality, the education industry is reinforcing itThis story is published in partnership with Fusion as part of Fusion TV’s investigative documentary series The Naked TruthAmong the 44 million Americans who have amassed our nation’s whopping $1.4tn in student loan debt, a call from Navient can produce shivers of dread.Navient is the primary point of contact, or the “servicer”, for more student loans in the United States than any other company, handling 12 million borrowers and $300bn in debt. The company flourished as student loan debt exploded under the Obama administration, and its stock rose sharply after the election of Donald Trump. Continue reading…
Source : theguardian.com
Read more…The debt trap: how the student loan industry betrays young Americans
