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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 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 ...
June 6, 2024 at 3:57 PM Plus, more sweeping student loan cancellation was announced for federal borrowers in late May, forgiving $7.7 billion in debt for 160,500 borrowers.
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 ]
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 ...
In February 2023, the American Federation of Teachers and Student Borrower Protection Center released a report showing that 4 in 10 borrowers were affected by "servicing failures," including internal guidance described as a “call deflection scheme.” [10] [11] In July 2024, AFT filed a federal lawsuit in which the user experience of MOHELA's ...
A substitute check (also called an Image Replacement Document or IRD) [1] is a negotiable instrument that is a digital reproduction of an original paper check. As a negotiable payment instrument in the United States, a substitute check maintains the status of a "legal check" in lieu of the original paper check.
Navient to announce fourth quarter and year-end 2024 results, host earnings webcast Jan. 29 HERNDON, Va., Jan. 08, 2025 (GLOBE NEWSWIRE) -- Navient (Nasdaq: NAVI) will host an audio webcast to review its 2024 fourth quarter and year-end financial results on Wednesday, Jan. 29, 2025, at 8:00 a.m. Eastern Time.