Student Debt Giant Navient to Borrowers: You’re on Your Own

So we shouldn't believe something an enormous corporation says? Shocking.

> There is no expectation that the servicer will act in the interest of the consumer... Navient says its public statements encouraging borrowers to contact the company didn’t mean it would act in their best interest.

So, pardon in advance for the vulgar language, but why the fuck is this OK? From any company?

I'm getting real damn sick and tired of "what the big print gives, the spidery print takes away" and how we're all just supposed to be OK with this, as if this is how the world works or some crap.

If your public advertising--especially, but not limited to, when administering a service on behalf of the government--explicitly says "call us and we will help you," your company should not then be able to turn around and say "well, caveat emptor for calling us, sucker." Meanwhile, the handful of agencies devoted to trying to help the individual get any kind of a fair shake from the company "provider" that massively outguns any one individual customer, are all under attack from all sides as being "too heavy handed." (I love the CFPB, in case you can't tell.)

Oh, and this whole "consumer" crap? I'm not a "consumer," I'm a customer. I'm not consuming anything from a financial services provider, I'm using their services. Stop with the idea that all of us are just mindless drones, eating our Pac Man-like dots on the way to a swift end, and maybe get back to the idea that real people are on the other end of those faceless account numbers.

(FWIW, this applies to every company with mandatory, binding arbitration clauses, including the oh-so-enlightened participants in Y Combinator. Don't restrict my ability to hold you to your side of the agreement while reserving all rights to pound me into the sand at your leisure.)

10000x yes

While I appreciate that people are sour about student debt, I don't think Navient, qua big business, should behave in any other way.

I personally think public universities should be free and highly selective, rather than the opposite. But I also think taking out loans with no plan to repay them is criminally stupid. If the education product being sold is fraudulent, go after the fraudulent institution (as has been done). But the bank? They're just a bank. And no, I don't think it's good that we have banks financing student debt, but I sure as hell don't blame banks for doing it.

This is a fabulous example of why privatizing what should be a public service is a terrible idea, yes, and this is the ridiculous game we get to play as a result... blaming the bank for playing hardball over money. Really?

Calling Anonymous. Retrain your targets.