Within the white from Maximus’s prior disappointments and you can evidence of lingering violations, every borrowers whose finance were previously maintained by the Navient would be to capture next five procedures to safeguard by themselves during and after new transfer
He joined the newest SBPC throughout the American Federation from Teachers, where the guy aided head AFT’s efforts to hang Navient and other education loan companies responsible for hurting coaches, faculty players, or other commitment users
On the the end of 2021, a tiny-recognized government company entitled Maximus annexed the servicing away from an excellent profile away from federal figuratively speaking in the past managed by the scandal-affected student loan large Navient. Maximus today handles the fund out of almost thirteen mil individuals which together are obligated to pay half of good trillion bucks out of education loan debt.
But if you are an incredible number of individuals can get perk in the possibility not becoming maintained by the Navient, an upswing away from Aidvantage leaves him or her on the line. Because an alternative statement throughout the SBPC in addition to Communication Professionals out of America lines, evidence is already mounting up of problems related to brand new transfer out-of Navient so you can Aidvantage, compounding new incredible set of abuses the company was already accused regarding connected with the part once the Department’s best servicer to have government education loan individuals inside default for the past ten years.
If you find yourself getting these actions, individuals should make sure to track down papers towards the updates away from people pending apps otherwise problems, and file an issue if they’re not solved otherwise was difficult by the import.
- Revise contact details. 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 an entire backup of account facts. 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.
- File a problem at the basic manifestation of an issue. 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.
- Sign up our energy to hold Aidvantage responsible and you can express your story today. 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 we are not able to provide legal representation to individual borrowers, we can help connect you with resources and additional payday loan in Celina support. After sharing your story, we will keep you up to date on our work holding Aidvantage accountable.
Discover nonetheless a lot we have no idea in the the way the transfer from profile off Navient to Aidvantage goes, as well as how one change in upkeep commonly correspond that have whenever cost resumes or on the call for student loan obligations cancellation. Taking the simple actions a lot more than, becoming conscious of any updates, and looking out getting and you can revealing fraudsters often place individuals into the an effective reputation so you can navigate whichever transform happen.
Emerald Saddler is Guidance from the Pupil Borrower Protection Heart. A recent graduate of your own Howard College or university College away from Laws, Emerald inserted the newest SBPC after doing a fellowship at Alliance for Fairness in which she labored on federal judicial nominations and you may typed on Ultimate Courtroom and lower government courtroom behavior impacting civil-rights and you can accessibility justice affairs.
Chris Hicks are an older Plan Advisor from the Student Debtor Defense Heart, and centers on the latest intersection out-of individual and you will staff member defenses.