Student loan defaults increased significantly between 2015 and 2016.
According to data from the Department of Education, student loan defaults increased at least 17% between 2015 and 2016. And in terms of real consumers, with real loans, that represents an additional 600,000 borrowers that defaulted on their student loans.
Navient and Pioneer Credit have been sued for their handling of student loans.
The complaint alleges that “Navient has failed to perform its core duties in the servicing of student loans, violating Federal consumer financial laws as well as the trust that borrowers placed in the company.”
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