SALLIE MAE-NAVIENT aka SLM Corp--
TRILLIONS DOLLARS SWINDLE BUBBLE
Just Waiting to Burst same as the Home Loan Mortgage Fannie Mae Swindles that
created CRASH OF 2008!
U.S.
universities have morphed into ONE BIG ATM CASH MACHINE mega-business SEEKING
foreign students, to the detriment of US students and future engineers and
computer programmers and IT specialists and software designers and nurses and
Physician Assistants, emerging from the giant womb of US legal resident
citizens and not recruited nor imported in from external factors OUTSIDE of the
domestic reality.
* U.S. Student loans that originate from Sallie Mae or
Navient are not federal loans. They are private loans. Sallie Mae and Navient offer few to no
options for repayment and do not offer any kind of income-based repayment
plans.
* Navient is Sallie Mae "rebranded":
don't be fooled by this PR stunt.
* No student loan is protected by bankruptcy—not
private loans, not federal loans, none of them. If you attempt to discharge
your loans in bankruptcy, there is a very high chance that your efforts will be
unsuccessful.
About 25% of higher
education students in USA now are foreigners who pay more university tuition,
making Education in the U.S. a vast and colossal Money Making Machine. On the
other hand, national domestic student loan debt has climbed to $1.4 trillion as
of 2017. About 6 million students had subsidized loans in the 2016-2017
academic year, averaging $100,000, which comes to over $20 billion annually.
SALLIE MAE, aka, "Navient" under its new name since a scandal a few
years ago, is the next trillion dollar bubble to burst like Fannie Mae and
the home loan mortgage disaster of 2007/2008 which caused a global financial
CRASH. NAVIENT, new name for Sallie Mae spinoff, is expected to service more
than $300 billion in student loans. In June 2016, stockholders filed a class
action lawsuit against Navient. The plaintiffs included Chicago police officers
and retired city employees in Providence, Rhode Island. Up to 2017, already
"tens of thousands" of complaints were filed against Navient. In
2017, 6,708 federal complaints were filed about the company, in addition to
4,185 private complaints – more than any other student loan lender in the
history of the world.
CNBC--March 2018--The Student Loan
Crisis will be a factor when the economy crashes, even though Wall Street and
the wealthy are the only ones who have benefited from this "Booming"
Economy. U.S. resident native born higher education students whose loans fall into delinquency would be subject to more stringent enforcement as the proposal also calls to "streamline the Department of Education's ability to verify applicants' income data held by the Internal Revenue Service." Some 30 programs would also lose funding, including the Supporting Effective Instruction State Grants, 21st Century Community Learning Centers and Federal Supplemental Educational Opportunity Grant programs. The president's proposal is subject to approval by Congress and is likely to be modified by legislators.
CNBC.COM
Trump's budget ends student loan forgiveness program, slashes repayment
options
Trump's budget
emboldens the government to go after students who don't pay their loans, limits
repayment choices and more.
On September
17, 2010, it was announced that Sallie Mae will acquire federally insured loans
from Citigroup-owned Student Loan Corporation worth $28 billion. On Feb 25, 2014, Sallie Mae (aka SLM
Corp) announced the new name for the student loan side which will be called "Navient". Navient
now manages nearly $300 billion in student loans for more than 12 million customers, the company was formed in 2014 by the split of
Sallie Mae into two distinct entities, Sallie Mae Bank and Navient. It seems
around this time Sallie Mae sold off all her student loan assets and then
bought them back again under their new business name change to Navient, and
thereby avoided many lawsuits and prosecutions and it is the same ole same ole
Sallie Mae swindle and rake off that it was, but now with a face lift and name
change to NAVIENT. Already by In August 2015, the Consumer Financial Protection
Bureau sent Navient a letter telling its executives that the agency's
enforcement staff had found enough evidence to indicate the company violated
consumer protection laws. On May 28, 2015, the United States Department of
Justice announced that nearly 78,000 military service members would begin
receiving $60 million in compensation for being charged excess interest on
their student loans by Navient.
National
student loan debt has climbed to $1.4 trillion as of 2017
In June 2016, stockholders filed a class action lawsuit against Navient. The plaintiffs included Chicago police officers and retired city employees in Providence, Rhode Island. Up to 2017, already "tens of thousands" of complaints were filed against Navient. In 2017, 6,708 federal complaints were filed about the company, in addition to 4,185 private complaints – more than any other student loan lender in the history of the world.
The
Crony Capitalism of Sallie Mae, July 2013
https://reason.org/wp-content/uploads/files/sallie_mae_cronyism.pdf
How
SALLIE MAE (aka SLM Corp) College
Loans Got So Evil, a video
https://www.youtube.com/watch?v=pVKEsiNMPNc
July
2018 -- Navient, the Delaware-based student loan management corporation
formerly known as Sallie Mae, is being sued by California’s Attorney General
Xavier Becerra. In a suit filed Thursday, Becerra accused Navient,
the nation’s largest student loan servicer, of cheating thousands of borrowers
and forcing them to repay more than they owed. Becerra’s suit alleges that
borrowers were steered toward repayment plans that exceeded their income
levels, and that in some cases, Navient misrepresented how much borrowers
owed. When forced to pay more than they owed, many borrowers then defaulted on
their student loans. “By taking Navient to court, we’re sending a very strong
message that these practices will not be tolerated,” he said before the filing,
according to the San Francisco Chronicle.
National
student loan debt has climbed to $1.4 trillion as of 2017
In
February 2007, New York Attorney General’s office launched an investigation
into deceptive lending practices by student loan providers, including The College Board, EduCap, Nelnet, Citibank, and Sallie Mae.. On October 10, 2007, documents surfaced showing that
Sallie Mae was attempting to use the Freedom of Information Act to force
colleges to turn over students' personal information to unfriendly predatory
hands. The university involved was SUNY, State University of New York, which
declined the request and was forced to defend its position in court. In December 2007, a class action lawsuit was
brought against Sallie Mae in a Connecticut federal court alleging that SALLIE MAE discriminated against African American student loan
applicants by charging them much higher interest rates and fees. The
lawsuit also alleged that Sallie Mae failed to properly disclose profit gouging
terms in student loans to unsuspecting students. Finally, under the terms of a
settlement, Sallie Mae agreed to make a $500,000 donation to the United Negro
College Fund and the attorneys for the plaintiffs received a whopping and
handsome $1.8 million in attorneys' fees for being the erudite middlemen. (Wikipedia)
"ANONYMOUS" recommended websites:
DUCKS UNLIMITED
https://www.angelfire.com/electronic2/haarpmicrowaves/Ducks_Unlimited_2006.pdf
Reimportation
of Drugs, PhRMA & Tea Party
http://beaties_of_bulgaria.tripod.com/sandy.html
http://beaties_of_bulgaria.tripod.com/NGO-OBSERVER/The_NGO_OBSERVER.html
https://www.angelfire.com/electronic2/haarpmicrowaves/Varoufakis-NEVER-AGAIN.html
http://rebbe_rocky.tripod.com/Jon_Stewart_NED.htm
http://ikeya_zhang.tripod.com/NED-license-to-kill.html
https://www.angelfire.com/planet/blacklisting_central/Temp_Slaves.htm
How Illegal Immigration &
Fannie Mae Set Us Up for the CRASH of 2008
https://www.angelfire.com/planet/blacklisting_central/Adrian-2005-Report-Immigration.html
Trump’s Chabad/Hasidic
Stetson Hat Backers
http://rebbe_rocky.tripod.com/CHABAD_gangsta_ties_TRUMP.html
Rachel Maddow Rockets
for Israel family
http://rebbe_rocky.tripod.com/Rachel-Maddow-background.html
Synthetic Telepathy
& Elon Musk
http://carpathian_bronze.tripod.com/synthetic-telepathy.html
GROUND ZERO BOGUS
https://www.angelfire.com/zine/cetaceandragon/Ground-Zero-Conspiracy.html
SCAN of AISLING
http://boudiccaarran.tripod.com/aisling_bryan_adrian.html