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

Written by on 01/14/2022

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

Via CNBC.com:

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.

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.

Nearly 66,000 borrowers are expected to get their loans cleared under the $1.85 billion deal.

 


Our Readers And Listeners Keep Us In Print & On The Air!

Click here to subscribe to The CRUSADE Channel’s Founders Pass Member Service & Gain 24/7 Access to Our Premium, New Talk Radio Service. www.crusadechannel.com/go

What Is The Crusade Channel?

The CRUSADE Channel, The Last LIVE! Radio Station Standing begins our LIVE programming with our all original CRUSADE Channel News hosted by Ron Staffard. Coupled with Mike “The King Dude” Church entertaining you during your morning drive and Rick Barrett giving you the news of the day and the narrative that will follow during your lunch break and Kennedy Hall and The Kennedy Profession for your afternoon drive! 

We’ve interviewed hundreds of guests, seen Brother Andre Marie notch his 200th broadcast of Reconquest; The Mike Church Show over 1200 episodes; launched an original LIVE! News Service; written and produced 4 Feature Length original dramas including The Last Confession of Sherlock Holmes and set sail on the coolest radio product ever, the 5 Minute Mysteries series! 

Now that you have discovered The Crusade, get30 days for FREE of our premium News-Talk Radio service just head to:

https://crusadechannel.com/go 

Did you know about Navient?  If you are interested in supporting small business, be sure to check out the official store of the Crusade Channel, the Founders Tradin Post! Not to mention our amazing collection of DVD’s, Cigars, T-Shirts, bumper stickers and other unique selection of items selected by Mike Church!


Reader's opinions

Leave a Reply


CRUSADE Channel Previews

CRUSADE Preview-Call 844-527-8723 To Subscribe

Current track

Title

Artist