The Center Square Illinois, News Partner The loan servicing giant Navient has agreed to cancel $1.7 billion in student loan debts by roughly 66,000 borrowers as part of a settlement reached with Illinois attorney general Kwame Raoul and 38 other state attorneys general.Jan 14, 2022
California and dozens of other states settled with the company, Navient, over claims of improper lending and collecting practices. ... About $11.5 million of the direct restitution and $261 million of the private debt cancellation will be for Californians, according to the California attorney general's office.Jan 13, 2022
Just around 0.15% of the country's student loan borrowers will get their debt cleared from the recent settlement between Navient and dozens of states. But the company is also required to write a check for approximately $260 to some 350,000 borrowers.Jan 22, 2022
The settlement, announced in January, will cancel the debt of some delinquent private student loans and offer restitution to some federal student loan borrowers. People 50 and older account for about 22 percent of all student loan borrowing, according to AARP research.Feb 17, 2022