The company is the subject of a lawsuit brought by the Consumer Financial Protection Bureau in 2017 over what the federal agency said was a pattern of misdeeds and mistakes that hindered borrowers trying to repay their loans. Navient won’t be entirely done with the federal student loan business if its request succeeds. But those bills are about to return: The Biden administration has said it intends to restart collection on Jan. Nearly all federal student loan borrowers have been skipping their payments thanks to a moratorium on collections that the government imposed in March 2020 in response to the coronavirus pandemic. The departures will leave the Education Department scrambling to move more than 15 million borrowers to new servicers - a process that has in the past been chaotic and error prone. Two months ago, another large federal servicer, FedLoan, said it, too, wanted out.
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