Navient agrees to $1.7 billion student loan settlement

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Navient agreed to pay nearly $2 billion to settle claims by 38 states and the District of Columbia it deceived thousands of borrows into costly, long-term, forbearance plans that caused students to pay more than they should have.

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"They ran a multi-billion dollar scam," Pennsylvania Attorney General Josh Shapiro said during a news conference announcing the settlement agreement. "What Navient did was deceive them," Washington Attorney General Bob Ferguson. "All they got was a push into a bad plan, this forbearance plan." Borrowers receiving private loan debt cancellation will receive a notice from Navient, along with refunds of any payments made on the cancelled private loans after June 30, 2021. Federal loan borrowers who are eligible for a restitution payment of approximately $260 will receive a postcard in the mail from the settlement administrator later this spring.Navient has denied any violation of the law.

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The collectors get what's called a complete every time they enroll someone in that sham program. After 20 or so per month they get a bonus check which ain't bad. It's not their fault though. The companies that collect on it push for it so they can keep the contract

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Student loan processor Navient required to cancel $1.7 billion in student loansNavient, one of the largest student loan servicers, will cancel $1.7 billion in private student loans after a deal it reached with 39 states. Truly the corona virus pandemic have really affected me financially, but with of the help Anthony_Claw through her Forex investment, I’m gradually getting back on my feet financially Which 39 states? Hmm. College debt cancellation. I would like more information on this case. I can see the gov. Then turning around and including navient in their next spending bill. A roundabout to getting what the progressives want.
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