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Settlement Provides $1.85 Billion In Nationwide Relief To Students Who Got Loans From Navient Settlement Provides $1.85 Billion In Nationwide Relief To Students Who Got Loans From Navient
Settlement Provides $1.85 Billion In Nationwide Relief To Students Who Got Loans From Navient One of the nation’s largest student loan servicers has agreed to relieve $1.85 billion in loan debt to help settle a blockbuster lawsuit filed by 38 states and the District of Columbia, authorities announced Thursday. Under the terms of the settlement, Navient Corp and its subsidiary Navient Solutions LLC will make restitution payments of roughly $260 each to 350,000 borrowers, Acting New Jersey Attorney General Andrew J. Bruck said. It will also cancel more than $1.7 billion in subprime private student loans owed by 66,000 or so borrowers nationwide, he said. The settlement includes appro…

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by Jerry DeMarco
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LAWSUIT: Student Loan Giant Crippled NJ Borrowers, State Authorities Charge LAWSUIT: Student Loan Giant Crippled NJ Borrowers, State Authorities Charge
Lawsuit: Student Loan Giant Crippled NJ Borrowers, State Authorities Charge One of the nation’s largest student loan servicers has screwed young borrowers in New Jersey, state authorities charged Tuesday in a blockbuster lawsuit against Navient. This includes deliberately fooling some of them into paying back more money than was due at the time by lying about the amounts, they said. “Higher education should be a pathway to success, not a road to financial ruin,” Attorney General Gurbir S. Grewal said in announcing the suit's filing. “Even before the financial fallout from the COVID-19 pandemic, too many New Jerseyans were struggling to pay off their student loans,…

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by Jerry DeMarco