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Education Department orders Navient to refund $22.3 million in decade-old student loan scandal
Danielle Douglas-Gabriel, The Washington Post
Feb. 1, 2021
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Before leaving office, acting Education Secretary Mitchell Zais ordered Navient, one of the nation s largest student loan companies, to refund $22.3 million that it allegedly overcharged the Education Department more than a decade ago.
In the early 2000s, the department s inspector general found several private lenders, including Navient s former sister company Sallie Mae, overcharged the federal government by tens of millions of dollars.
Investigators recommended in 2013 that the department have Sallie Mae return the estimated $22.3 million owed, but the company denied wrongdoing. Navient, which assumed Sallie Mae s liabilities when the companies parted ways, continued to fight the audit and appealed to the Trump administration.
/PRNewswire/ Nelnet, Inc. (NYSE: NNI) today announced it will release earnings for the fourth quarter and year ended December 31, 2020, after the close of.