Navient Settles Predatory Student Loan Claims For $1.85B

Several state attorneys general sued the student loan company for allegedly engaging in unfair practices and offering predatory loans to students.

Navient, a major student loan collecting company, agreed to cancel $1.7 billion in debt owed by more than 66,000 borrowers across the U.S. and pay over $140 million in other penalties to settle allegations of abusive lending practices.

The $1.85 billion deal with 39 state attorneys general was announced Thursday.

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