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Student-Loan Processor Navient to Cancel $1.7 Billion of Debts
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wsj.comOne of the nation’s largest student-loan processors will cancel the debt of 66,000 borrowers, totaling $1.7 billion, in an agreement with 40 state attorneys general.
The agreements resolve all six outstanding state lawsuits against Navient Corp. , the company 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 approximately $145 million to the states.
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