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The article presents the discussion on Navient's $120 million settlement with federal regulators over allegations of misleading student loan borrowers and mishandling payments. Topics include Navient's ban from federal student loan servicing, the $100 million restitution to affected borrowers; and the Consumer Financial Protection Bureau's actions against the company.

The article focuses on the resumption of student loan payments and provides information about the Biden administration's measures to ease the transition, including a yearlong "on-ramp" for missed payments, the introduction of the more affordable income-driven repayment plan called SAVE.

The article discusses problems with income-driven repayment plans for student loans in the U.S. Topics discussed include an increase in enrollment in income-driven plans, problems with the payment calculation, suggestions from borrower advocates on how to address these problems and proposals from several Democratic presidential candidates on student debt.

Starting later this month, if you're denied for a loan or don't qualify for the best interest rate, the lender must send you a free copy of the credit score it used to arrive at its decision. The new rule, which will go into effect on July 21 as part of the broader financial regulatory overhaul, will apply to credit cards, auto loans and student loans. In other words, it will apply to any type of credit-related decision that uses information in your credit report. (Lenders must continue to provide free credit scores to all mortgage applicants, even if you get the best loan terms available.) [ABSTRACT FROM PUBLISHER]