Why We’re Firing Navient This Week

1T Day Email 2017This post originally appeared on: genprogress.org | April 24th, 2017

We’re commemorating an anniversary this week—but it’s not one we’re happy to be celebrating. This Tuesday marks the fifth anniversary of the day Americans’ student debt hit $1 trillion, or $1T Day.

We’re not doing much better five years later. In fact, there are many indicators that suggest we are backsliding on helping and protecting students and borrowers afford and pay for higher education.

If things were going as planned…

This $1T Day we’re asking the Department to do one good thing for borrowers: Fire Navient.

Navient, which two states and the Consumer Financial Protection Bureau (CFPB) recently sued, holds loans for one in four student loan borrowers while maintaining a notorious record for cheating students at every stage of repayment. In response to the lawsuits, Navient said that “there is no expectation that the servicer will act in the interest of the consumer.”

We have a bright idea for Betsy DeVos’ Department of Education: act in the interest of borrowers and fire Navient. Their multi-million dollar contract deserves to go to servicers that believe they have an obligation to work in the best interest of borrowers.

Sign the petition to tell Betsy DeVos you don’t want your taxpayer money going to Navient.

Last time we rallied against a predatory servicer, borrowers forced their sale and rebranding. We can really do this.

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