To: President Donald Trump
Tell the Department of Education to Fire Sallie Mae/Navient
We the undersigned, demand that the Department of Education fire Sallie Mae/Navient and review all contracts with student loan companies that do business with the federal government. The Department must take serious efforts to keep “bad actors” accountable for scamming students; lucrative loan servicing contracts should only be given to companies that hold the interests of student loan borrowers first. (Better yet, let’s make college FREE and fire all contractors).
We urge the Department of Education to take immediate action, now!
Why is this important?
Mounting evidence shows that Navient - a spin off from Sallie Mae - has been ripping off federal student loan borrowers for many years. Yet, the Department of Education continues to reward companies like Sallie Mae/Navient with MULTI-MILLION DOLLAR contracts. Simply put, these corporations get richer as student loan borrowers suffer.
Secretary of Education John King needs to hear from as many Americans as possible that it is unacceptable for the Department of Education to be in business with a company that takes unfair advantage of taxpayers, students, members of the military, as well as minority and low-income borrowers.
The current contract stipulates that violating federal law is grounds for termination. Sallie Mae/Navient was fined by the federal government $93 million for “unlawfully overcharging” America’s troops and veterans. Obviously, it is time to fire Sallie Mae/Navient- but, the Department of Education won't act without massive public pressure.
Tell Secretary King to fire Sallie Mae/Navient!