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N avient has agreed to pay $120 million as part of a settlement agreement reached with a federal regulator—most of which is expected to go to impacted student loan borrowers.
The settlement will result in the cancellation of $1.7 billion in student loans. Another $95 million will be distributed in restitution payments.
Nearly 66,000 student loan borrowers got some financial relief on Thursday after Navient, one of the country's biggest loan servicing companies, reached a $1.85 billion settlement over predatory ...
The settlement is not a first for the company. In 2022, it reached a $1.85 billion accord with 39 states and agreed to cancel about 66,000 student loans to settle claims it engaged in predatory ...
In 2022, Navient entered into a $1.85 billion settlement over accusations that it had misled borrowers into costly repayment plans and predatory loans. The settlement spanned 39 states and the District of Columbia and included $1.7 billion in loan cancellations and $95 million in payouts. [ 49 ]
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Tens of thousands of people who took out student loans over the past 20 years could see their loans canceled or receive a small check as part of a nationwide settlement with Navient, a major ...