Sen. Age Warren (D-Size.) plus five other Democratic senators expected Maxiumus, brand new education loan servicer assigned that have overpowering the newest account from more than 5 million consumers transferring of Navient, to ensure those individuals individuals enjoys a silky changeover. During the a letter to Maximus recently, the newest lawmakers told you it is essential your servicer “would during the a high club along with improved visibility to include the best possible services to borrowers.”
Navient revealed in Sep so it could be finish its deal toward federal government and import all consumers it is in charge having to a different servicer. Maximus, and therefore operates due to the fact a student loan servicer under the title Aidvantage, is afterwards defined as the newest servicer that could be taking on Navient’s levels, and you will Navient later provided to keep on given that an excellent servicer compliment of December in an effort to assists a soft changeover.
The brand new letter states you to definitely Maximus, hence already characteristics the brand new money more than 1.7 billion borrowers during the default, provides a troubling track record that “raises inquiries one consumers are at the mercy of poor solution and you can abusive means.”
“Once the Maximus plays the duty regarding controlling the funds away from many way more consumers and you may handling pre-default financing the very first time, it ought to see increased bar away from responsibility and you can demonstrate its commitment to working in solution regarding consumers,” the new lawmakers mention.