Student loan processor Navient required to cancel $1.7 billion in student loans

  • 📰 CNBC
  • ⏱ Reading Time:
  • 12 sec. here
  • 2 min. at publisher
  • 📊 Qulity Score:
  • News: 8%
  • Publisher: 72%

Navient, one of the largest student loan servicers, will cancel $1.7 billion in private student loans after a deal it reached with 39 states.

United States Headlines News

United States Latest News, United States Headlines

As part of the settlement, Navient denied that it violated the law.The settlement, announced on Thursday, resulted from accusations the lender gave out loans to millions of borrowers who'd be unlikely to be able to repay them. It resolves all six outstanding state lawsuits against Navient, company officials said.

The loans in question are private loans, meaning they are not guaranteed by the federal government. As part of the settlement, the company will make a one-time payment of about $145 million to the states.More from Personal Finance:

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

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.

Which 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

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Rob Gronkowski wouldn’t invite Tom Brady to dinner after $1 million bonusTom Brady may have helped Rob Gronkowski increase his bottom line Sunday, but that doesn’t mean it banked him a dinner invite.
Source: nypost - 🏆 91. / 67 Read more »

NJ Transit gets $1.6B in aid as ridership drops during omicron surge, feds sayNJ Transit will receive $1.6 billion in federal coronavirus transit aid. yeah and watch them still raise their rates 🙄😑😒
Source: njdotcom - 🏆 282. / 63 Read more »

Citadel Securities takes in $1.15B investment from Sequoia and ParadigmCitadel announced VC investments from a Web3-focused firm, signaling a shift toward crypto. Bitcoin is still above $43k.A bounce is expecting from here target at 47K The biggest risk with bitcoin has been not owning it at this point not having any BTC feels irresponsible buy the dip Bravo 27EllenA Made us proud her TA tips have been very helpful, I’ve been super What if we just bought Bitcoin a year after the market top? Wanna know how Snoop is fighting INFLATION and why BANKS don’t like him? Check here :
Source: Cointelegraph - 🏆 562. / 51 Read more »

$1.3B of Bitcoin Withdrawn from Exchanges as Miners' Reserves Reach Yearly HighBitcoin miners' reserves tapped a new one-year high following massive accumulation, while $1.3 billion in BTC was transferred out of exchanges in a day.
Source: Crypto_Potato - 🏆 568. / 51 Read more »

Golden Beer Can: Budweiser launches Willy Wonka-inspired contest with $1 million prizeBudweiser is giving everyone a chance to feel like Charlie in 'Willy Wonka & the Chocolate Factory' by launching a nationwide contest with a $1 million prize.
Source: cleveland19news - 🏆 70. / 68 Read more »