Together with her yearly student loan invoice in about $700, approximately half of her earnings goes to paying back the loans, forcing her to lean more heavily on her fiance.”He pays all our utilities, all our invoices. Because in the end of the afternoon, I really don’t have anything else to give him,” she explained. The shadow of her debt hangs over every conversation about their marriage, mortgage obligations, and getting parents. Navient does not only service national loans, it’s a hand in just about any element of the student loan program. It’s purchased personal student loans, both servicing them and getting interest from these. Plus it has bought billions of dollars worth of their elderly taxpayer-backed loans earning interest, in addition to servicing that debt. The Way the Trump government is sabotaging students of colour Meanwhile, it is in the running to manage the Department of Education’s whole student debt net portalsite, which would open much more avenues for the company to gain from — and enlarge its own influence more — Americans’ access to higher education.The national government is the largest creditor of American student loans, meaning taxpayers are presently on the hook for over $1tn. For many years, much of the money was handled by private banks and loan firms like Sallie Mae.