Posted on May 29, 2015
COL Charles Williams
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According the Early Bird - The Hill - 77,795 veterans were overcharged. If this effects you may want to check this out.

The Department of Justice (DOJ) has secured $60 million in refunds for military veterans who were illegally charged too much interest on their student loans.

The student loan service provider formerly known as Sallie Mae, which has since changed its name to Navient Corp., will begin issuing the refunds next month to 77,795 veterans who were overcharged for their educations.

The refunds will range from checks of $10 to more than $100,000. The average veteran will receive about $770 back from Navient, the DOJ noted.

This is the first time the federal government has sued a student loan company for charging military veterans too much interest.

Navient agreed last year to settle DOJ charges that it violated the Servicemembers Civil Relief Act by not capping interest rates for certain loans to veterans at 6 percent.

The company will begin sending the refunds out next month.

http://thehill.com/regulation/defense/243380-student-loan-provider-to-repay-60-million-to-military-vets
Posted in these groups: Sallie MaeB9316429050z.1 20150301153016 000 g67a2u12p.1 0 Loans
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Responses: 3
SFC Platoon Sergeant
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To be clear, just being a vet sets your interest rate to 6% for student loans? I just looks at my Navient account and my rate is 9%.
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SFC Platoon Sergeant
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Nothing, huh?
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LTC Stephen C.
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COL Charles Williams, good catch! I hope this gets a lot attention on RP! It will help many!
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SGT Signal Support Systems Specialist
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OOO!! Uh yay!? I guess. I have a Sallie Mae Loan so, if this is true, this will REALLY help
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