Navient is barred from federal student loan servicing and has to pay $120 million in fines and compensation to the borrowers harmed by its practices, according to a proposed settlement with the ...

Navient faces a ban from servicing federal student loans after the Virginia-based financial services company settled a lawsuit with the Consumer Financial Protection Bureau (CFPB) for $120 million.

Forbes contributors publish independent expert analyses and insights. Adam Minsky is an attorney and writer focusing on student loans.

Navient, an embattled student loan provider, will pay back $100 million to student loan borrowers after years of accusations that it mismanaged loans and misled borrowers. The company agreed to pay ...