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AP Exclusive: Gov’t questions unfair student loan practices

Business News reporter Ken Sweet obtained an Education Department document showing that student loan servicer Navient put borrowers in costly repayment plans without telling them about potentially less expensive options. The exclusive was picked up in several newspapers, including the Los Angeles Times and made the front page of the New York Daily News. Navient’s stock fell more than 10 percent after Ken’s story was published, forcing the CEO to issue a letter to shareholders. One analyst firm, ValuAct, downgraded the stock following the story.

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