Julie Margetta Morgan & Kendra Bozarth

Julie Margetta Morgan is a fellow at the Roosevelt Institute and executive director of the Great Democracy Initiative. Kendra Bozarth is the deputy editorial director at the Roosevelt Institute.

Recent Articles

One More Travesty in the Student Loan Program

Student debt companies line the pockets of CEOs and shareholders through stock buybacks at the expense of students.

(Sipa via AP Images)
(Sipa via AP Images) N avient is one of the main federal contractors servicing government-owned student loans, and taxpayers pay more than $100 million each year to Navient for its services. It is also the nation's largest holder of federally guaranteed student loans. The federally guaranteed loan program was discontinued about ten years ago, but Navient still holds about $80 billion of these loans. One would hope that Navient would be investing in its company to ensure that borrowers are well served and tax dollars are well spent. Instead, it seems that the company has been investing its resources in a very different way: buying back stock from its shareholders to artificially inflate share prices and turn a profit. A recent report from the Roosevelt Institute and the National Employment Law Project, “ Curbing Stock Buybacks ,” details how “stock buybacks”—the practice of companies repurchasing their own stock from shareholders to artificially increase stock value—enrich corporate...