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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 ...
Now that student loan servicing company Navient has agreed to a $1.85 billion settlement over alleged predatory and deceptive lending practices, tens of thousands of loan recipients might soon be...
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