Student-loan company Navient asked permission to shut down

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The biggest company that handles student loans just asked the government's permission to shut down its services

, servicing a combined 10 million borrowers, are ending their contracts, as well.

"Navient is pleased to work with the Department of Education and Maximus to provide a smooth transition to borrowers and Navient employees as we continue our focus on areas outside of government student loan servicing," Jack Remondi, Navient President and CEO, said in a statement."Maximus will be a terrific partner to ensure that borrowers and the government are well served, and we look forward to receiving FSA approval.

 

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Oops

Very sad indeed.

they are pulling risk off their books so they do not default from SLABs failing

👀

Sad news

SLABS

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