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Since 2013, Sen. Elizabeth Warren of Massachusetts has been accusing Navient of misleading practices.
Navient says Warren s allegations are false; she says the government should fire Navient, which should fire its CEO.
She told Insider it s past time to fire Navient and other student-loan servicers.
As calls increase for President Joe Biden to cancel $50,000 in student debt per person, lawmakers are also keeping an eye on student loan servicers, which process loan payments and collections. The problem is they ve been accused of failing to provide borrowers with all the necessary information.
The big player in student loans is Navient, which is not only the biggest student loan servicer in the US but also the processor of a large portion of federally backed student loans, and after the Democrats won control of the Senate in January, Navient is facing a new chair of the Senate Subcommittee on Economic Policy in the form of Elizabeth Warren.