Student loan servicing company Navient Corp., which is facing multiple lawsuits for allegedly engaging in deceptive practices designed to squeeze more money from borrowers by pushing them into more costly repayment plans, got hammered online Thursday when it boasted of being a Fortune 500 company.
Navient has drawn widespread criticism for its business practices, and an internal Department of Education audit from 2017 found that the company worked to steer borrowers into expensive repayment options without giving them sufficient information about alternatives that would be less costly over the long haul.
Despite its bad reputation, Navient couldn't help but brag when it learned that it had made the 2019 Fortune 500 list, as seen in the tweet below.
Pennsylvania Attorney General Josh Shapiro, who is currently suing Navient for their allegedly deceptive tactics, was not pleased to see the company crowing about what he claims is ill-gotten wealth. Specifically, Shapiro accused Navient of "unlawfully adding $4 billion on the backs of students and their families through your predatory student loan practices."
Yes you did. By unlawfully adding $4 billion on the backs of students and their families through your predatory stu… https://t.co/qY8mDiD6YQ— Josh Shapiro (@Josh Shapiro)1558032443.0
Sen. Elizabeth Warren (D-MA), who has made student debt forgiveness a cornerstone of her presidential campaign, similarly whacked the company.
This student loan company is literally under investigation and being sued by states and the federal government for… https://t.co/NjmpMyJbcf— Elizabeth Warren (@Elizabeth Warren)1558025938.0
Shapiro and Warren weren't the only people who smacked down Navient for its Fortune 500 boast -- as of this writing, the tweet had a ratio of 306 responses to a mere five "likes." Check out some other angry reactions below.
@Navient You're a gahdamn student loan company and you're celebrating making boatloads of money off of kids trying… https://t.co/wIM9B0nanM— Zach D Roberts (@Zach D Roberts)1558016462.0
@Navient “Hurray! We’re rich off your pain!” “And we’re rich off our TERRIBLE record helping you navigate it or ev… https://t.co/hIa30TprdL— Alexis Goldstein (@Alexis Goldstein)1558013256.0
@Navient On the backs of students. You must be so proud 🤔🙄— Jen Russell (@Jen Russell)1558017850.0
@Navient eat shit— mister “tea” (@mister “tea”)1558015714.0
@Navient no one is happy for you— courtneyfrancis (@courtneyfrancis)1558016201.0
@Navient Yay, we did it.....screwed over students and made massive profits that put us on this list. And we’re not… https://t.co/qeg4A6xEhR— Karen (@Karen)1558019923.0
@Navient I had to sell a kidney and promise my firstborn to pay off this shit... but yeah, congratulations!— 𝙰𝚖𝚢 (@𝙰𝚖𝚢)1558019034.0
@Navient Usury is a sin.— Sarah Kelly (@Sarah Kelly)1558023917.0
@Navient Enjoy it while you can. We're coming for you.— Sam Haselby (@Sam Haselby)1558026130.0
@Navient Wow so happy I’m supporting something so worthwhile! Thanks Navient!! Makes those endless payments totally worth it! 👍🏼— Loretta Chopey (@Loretta Chopey)1558018201.0
@Navient You forgot the evil laugh https://t.co/zoEq0vKOtb— 25th Amendment Now (@25th Amendment Now)1558033428.0
@Navient This is some let them eat cake level shit right here.— Patrick Woodall (@Patrick Woodall)1558029380.0
@Navient You once raised my interest rate to 13%— meg (@meg)1558016192.0