Posted on May 29, 2015
Student loan provider to repay $60 million to military vets - a victory?
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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.
http://thehill.com/regulation/defense/243380-student-loan-provider-to-repay-60-million-to-military-vets
This is the first time the federal government has sued a student loan company for charging military veterans too much interest.
http://thehill.com/regulation/defense/243380-student-loan-provider-to-repay-60-million-to-military-vets
Education
Loans
Student
Posted >1 y ago
Responses: 8
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I received $160 from these vultures. I had to deal with them while deployed. It involved a state Senator and finally a US Senator from my State. I plan on a somewhat lengthy time on this planet. But in a hypothetical world where I decide to go out in a blaze of glory. Navient (formerly SallieMae) would be on my shortlist. I kid of course...
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Something's better than nothing. At least they are trying to take care of our Veterans!
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As PO2 William Allen Crowder observed in his post, "Student loans are a form of indentured servitude". I'll add that they are even more insidious than that...
The easy availability of "cheap money" for tuition has done more to raise the cost of education than any other factor. Schools now vie for students by adding amenities that add little to the quality of education. To pay for these amenities, they raise tuition as well as the costs of room and board. So what? Students can simply borrow more to pay for them. It's a vicious cycle that appears to have no end.
It's not just a problem for veterans, but veterans are being thrown into it in ever increasing numbers. As the government chooses to release service men and women, even those who apply to reenlist, they are thrown into a declining job market (don't believe the propaganda being fed daily about declining unemployment. Employment is declining even faster, especially with raises in minimum wages). Many are escaping temporarily by going to school. They languish there earning credits in classes that do not add to their skills so that upon graduation, they not only don't have a job but also don't have the skills needed to either get one or build their own business.
That's why they end up as indentured servants...
The easy availability of "cheap money" for tuition has done more to raise the cost of education than any other factor. Schools now vie for students by adding amenities that add little to the quality of education. To pay for these amenities, they raise tuition as well as the costs of room and board. So what? Students can simply borrow more to pay for them. It's a vicious cycle that appears to have no end.
It's not just a problem for veterans, but veterans are being thrown into it in ever increasing numbers. As the government chooses to release service men and women, even those who apply to reenlist, they are thrown into a declining job market (don't believe the propaganda being fed daily about declining unemployment. Employment is declining even faster, especially with raises in minimum wages). Many are escaping temporarily by going to school. They languish there earning credits in classes that do not add to their skills so that upon graduation, they not only don't have a job but also don't have the skills needed to either get one or build their own business.
That's why they end up as indentured servants...
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This is great. I think veterans should be exempt from paying student loans all together.
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Suspended Profile
Good start......It would also nice if someone address residency for retirees.
I had to pay out of state tuition rates on my wife when we retired and relocated to her home state because we had not lived there for 2 years ....we are talking thousands of doll....and yes I had already bought a house, paid state taxes, transferred my DL.....was ridiculous.....school should grandfather military retirees and dependents in just like they do active duty....anyway something for another thread or fight i suppose...but just the thorn in my side....but yes this is small victory that should help a lot of folks....not they just need to apply to all loans
I had to pay out of state tuition rates on my wife when we retired and relocated to her home state because we had not lived there for 2 years ....we are talking thousands of doll....and yes I had already bought a house, paid state taxes, transferred my DL.....was ridiculous.....school should grandfather military retirees and dependents in just like they do active duty....anyway something for another thread or fight i suppose...but just the thorn in my side....but yes this is small victory that should help a lot of folks....not they just need to apply to all loans
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