Navient

Education
National
Economy

Navient reaches $120 million settlement for misleading student loan borrowers

5:01pm September 12, 2024

According to the Consumer Financial Protection Bureau, $100 million will be used to make payments to impacted borrowers in a settlement with the former servicer of student loans.

As part of the settlement, the loan servicing company Navient agreed to pay $95 million for states to offer affected borrowers some reimbursement — roughly $260 each to 350,000 borrowers.

Economy
Education

Navient reaches a deal to cancel $1.7 billion in student loan debts

4:51pm January 13, 2022

by Cory Turner

The loan servicing giant has agreed to cancel student loan debts owed by roughly 66,000 borrowers as part of a settlement reached with 39 state attorneys general.

A 2017 report by the Department of Education's Office of Federal Student Aid found that Navient, one of its student loan servicers, often did not tell borrowers about all of their repayment options.

National
Education

Student Loan Servicer Steered Some Borrowers To Higher-Cost Plans, Government Says

4:00pm November 21, 2018

by Laurel Wamsley

A previously unpublished Education Department report found Navient representatives didn't always tell borrowers about repayment options. Navient says it's not required to do so, and officials agree.