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The proposed settlements with 39 states require Navient to cancel $1.7 billion in delinquent private student loan debts and pay $95 million in restitution, The New York Times reported.
Navient Corporation is an American student loan servicer based in Wilmington, Delaware.Managing nearly $300 billion in student loans for more than 12 million debtors, the company was formed in 2014 by the split of Sallie Mae into two distinct entities: Sallie Mae Bank and Navient.
The agreement, if approved by a judge, cancels $1.7 billion in private loan debt owed by more than 66,000 borrowers across the U.S. and distributes a total of $95 million in restitution payments ...
The new agreement, filed in court on Thursday, stipulates that the CFPB would permanently ban Navient from directly servicing federal student loans. Of the $120 million Navient would have to pay ...
Select private student loan borrowers may be eligible for student loan forgiveness through former servicer Navient. Plus, more sweeping student loan cancellation was announced for federal ...
The number of lawsuits against a prominent federal student loan servicer has grown recently. Federal student loan servicers, such as Nelnet and Navient Corp., are companies that collect payments ...
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