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Your Money: How the Deck is Stacked Against Student Loan Borrowers

A dealer shuffles a deck of cards during a poker game at a casino in Budapest September 15, 2009.  REUTERS/Katoly Arvai

By Beth Pinsker NEW YORK (Reuters) – Paying back your student loans is hard enough. It certainly does not help when the trillion-dollar industry seems set up to make you fail. The Consumer Finance Protection Bureau shed some light on how harrowing this process can be for borrowers on Wednesday when it announced a massive lawsuit against the largest servicer of student loans, Navient, for “systematically and illegally failing borrowers at every stage of repayment.” Reuters spoke with Heather Jarvis, a Wilmington, North Carolina-based attorney who specializes in student loan issues (http://askheatherjarvis.com), about the pain points in the student loan…

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