From inside the light away from Maximus’s prior downfalls and you will evidence of ongoing abuses, all consumers whoever fund was in the past maintained from the Navient should take the next four steps to guard by themselves during and after brand new import
He inserted the SBPC on the Western Federation of Instructors, where the guy aided head AFT’s work to hang Navient or other education loan companies guilty of injuring instructors, faculty players, and other union participants
Into the the end of 2021, a tiny-understood government specialist entitled Maximus annexed the servicing out of a great collection away from federal student education loans previously managed of the scandal-beset education loan icon Navient. Maximus today manages brand new financing out-of almost thirteen million consumers whom collectively owe half of good trillion bucks of education loan loans.
But if you are scores of borrowers will get brighten within possibility not any longer becoming maintained by Navient, the rise of Aidvantage leaves them on the line. Because a different declaration about SBPC as well as the Correspondence Workers away from America contours, facts is already turning up from dilemmas related to the brand new transfer regarding Navient to Aidvantage, compounding the latest shocking list of violations the firm had been accused out of pertaining to its part since the Department’s sole servicer to have government student loan consumers from inside the standard for the past ten years.
Whenever you are delivering this type of steps, individuals must ensure to get documentation into updates regarding one pending applications or grievances, and document a grievance if they are not fixed otherwise are tricky because of the transfer.
- Revision email address. You should expect additional notices from Aidvantage over the coming months. These notices will provide important information about what to expect and whom to contact at either servicer with questions. To ensure you receive updates in real time, you should confirm that Aidvantage has your accurate contact information, and if any of your contact information changes, be sure to update it promptly. You can do this through your online loan account or by contacting Aidvantage.
- Continue a complete duplicate of your membership records. In case there are any lost records or disputes with future servicers, you should keep a copy of your complete account records to date in a safe place. This is especially important if you are pursuing Public Service Loan Forgiveness; make sure you have copies of all payments and filed Employment Certification Forms. To ensure you have a complete copy, you should both download your payment history and everything else that’s available on your online loan account, and contact Navient or Aidvantage as soon as possible to request that the company send you a complete copy of your loan records, since some loan records may not be readily available on your online account.
- Document a grievance in the earliest sign of a problem. All loan servicers, including Aidvantage, have a responsibility to be responsive to borrowers, to be knowledgeable and professional, and to maintain accurate records. If you experience an issue with Aidvantage, you should immediately file a complaint with the Department. You can also file complaints with the Consumer Financial Protection Bureau and with your state’s attorney general. Issues may range from the servicer refusing to provide records, refusing to acknowledge past payments, or falsely claiming ineligibility for repayment or debt forgiveness programs. If you have any outstanding requests or complaints with your servicer, call to ask for an update and take notes on what was discussed. If the issue still isn’t resolved, file a complaint and include your notes from the call. Especially given the monumental nature of this account transfer, you should not wait to file a complaint if you experience an issue with your account or servicer.
- Join our effort to hang Aidvantage guilty and you will share your tale now. We are concerned by stories borrowers have highlighted about Aidvantage as they’ve taken over accounts previously handled by Navient. If you’ve experienced any problems while interacting with Aidvantage, your story can help inform regulators and lawmakers as they oversee student loan servicers. After you file a complaint, please visit our contact us page to let us know and share your story. While payday loans Laurel online we are not able to provide legal representation to individual borrowers, we can help connect you with resources and additional support. After sharing your story, we will keep you up to date on our work holding Aidvantage accountable.
There can be nevertheless much that we do not know from the the transfer regarding accounts from Navient so you’re able to Aidvantage goes, and exactly how any improvement in upkeep have a tendency to coincide that have whenever payment resumes otherwise for the require education loan financial obligation termination. Taking the simple steps over, staying alert to one status, and seeking aside to have and reporting scammers usually set individuals when you look at the an excellent standing so you can browse almost any transform take place.
Emerald Saddler are Counsel during the Beginner Borrower Protection Heart. A recently available graduate of your own Howard School University of Legislation, Amber registered the new SBPC once finishing good fellowship at the Alliance getting Justice where she worked on federal official nominations and composed in the Supreme Judge minimizing federal legal conclusion affecting civil-rights and access to fairness situations.
Chris Hicks is an older Policy Advisor during the Student Borrower Security Cardiovascular system, and focuses on the intersection of individual and you can employee defenses.