
More than 400,000 student loan borrowers will get debt relief from Navient
CNN
More than 400,000 student loan borrowers will get some debt relief from Navient, according to a $1.85 billion settlement agreement announced Thursday.
The deal will settle litigation brought by several state attorneys general that claimed that Navient, one of the largest student loan servicing companies in the US, engaged in unfair practices and made predatory loans to students who were unlikely to be able to pay them back.
About 350,000 federal student loan borrowers whom Navient placed in long-term forbearance -- which allowed them to temporarily stop making payments -- will receive about $260 each, totaling $95 million in restitution.

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