FYI: Federal Student Loans Are Not Subject to Consumer Protection Laws

In 2005, the federal student loan industry was privatized and deregulated and is not subject to the FCRA or consumer protection laws and like Chopra, lead attorney in the Navient lawsuit stated, there is no private right to sue. ie) No legal recourse.

If you’re expecting relief from the Navient lawsuit, there is none coming…as Chopra stated.

Also, be aware that no type of student loan, be it federal or private, can be discharged in bankruptcy and only Veterans are subject to disability discharge.

1 Like