by roottn | May 29, 2023 | personal cash loans
In the Archives: Predatory Financing at Sallie Mae Stephen Burd This week, The brand new York Times had a wages facts on the legal actions that the state Attorney Standard within the Washington and you may Illinois has recorded against Navient, the private student loan business previously called Sallie Mae. This type of litigation accuse this business having made subprime private money so you’re able to to possess-funds college students whilst it realized that every of these low-earnings and working-category students would never be able to outlay cash back. This really is a subject you to definitely I am slightly regularly, due to the fact I’ve created several times about Sallie Mae’s predatory credit practices because the I registered The newest The usa into the 2007. In the interests of getting so much more records on this topic, below are a few key pieces You will find written about the topic over many years. (Editor’s Mention: Backlinks found in listings from your former blog Highest Ed Watch no further functions.): “Class Step Suit Demands Sallie Mae’s Subprime Credit Methods” (3/): Contained in this Higher Ed View blog post, I published regarding a lawsuit one Sallie Mae investors produced up against the business. On the suit, brand new shareholders debated that education loan monster had “fooled them towards level of risk the business are providing in driving large-pricing individual finance with the subprime consumers attending bad-doing trade colleges.” “Blind-Sided in the Sallie Mae?” (3/): This informative article grabbed challenge with Sallie Mae’s a reaction to the shareholder suit where in actuality the providers claimed it actually was “blind-sided from the...
