The deal includes an agreement to cancel student loans for approximately 66,000 borrowers across 36 states and Washington, D.C. with loans from between 2002 and 2010 that "later defaulted charged off."
The total sum of those cancellations will total over $1.7 billion, with most of the amount already charged off, the company claimed.The company will also pay around $142.5 million in other penalties to a further 350,000 borrowers. It will also need to advise borrowers more clearly on their options and repayment plans.
"The company’s decision to resolve these matters, which were based on unfounded claims, allows us to avoid the additional burden, expense, time and distraction to prevail in court,"
USA Deaths-------Cases 869,212------65,236,475 from the Trump Virus CA--77,797----6,517,211 TX--77,294----5,301,709 FL--63,081----4,980,826 NY--61,836----4,490,898 PA--38,253----2,375,071 IL---32,356----2,560,001 GA--31,875----2,093,376 OH--30,435---2,266,236
I do not like this. Navient is consenting students to be irresponsible. You borrow money so you can get a degree that do not pay well, then you get burdened with the loan and blame others for it.
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Navient Settles Predatory Student Loan Claims for $1.85BNavient, a major student loan servicing company, has settled allegations of predatory lending practices for $1.85 billion I better check my loan I think it should have been paid off
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