Student Loans: How do you know if you qualify for the Navient Student Settlement?
NOTavenir is one of the leading student loan servicing companies in the United States and the company was recently sued after being accused of predatory lending practices. A settlement has been reached and will result in the cancellation of certain student loans and repayments.
In this guide, we describe the Navient student establishment and explain who exactly qualifies for student loan forgiveness following this development.
What has Navient sued for its student loan practices?
Several states have accused Navient of steering students toward more expensive repayment plans, with higher interest rates, and of specifically targeting students with poor credit.
It was claimed that the company had engaged in this predatory practice since 2009.
On Jan. 13, 39 state attorneys general announced they had reached a settlement with the company worth $1.85 billion, split into $1.7 billion in student loan debt forgiveness and $95 million. refund dollars.
Who is eligible for Navient Student Loan Forgiveness?
To qualify for student loan forgiveness as a result of this settlement, you must have been one of the borrowers who was placed in the particular type of long-term forbearance.
There is no need to check if you are eligible for the Navient Student Loan Forgiveness as you will be contacted directly if you are eligible.
“Borrowers do not need to take any action to receive relief under this settlement,” the settlement statement reads. “In the spring of 2022, the Settlement Administrator will send a postcard to each federal loan borrower eligible for a restitution payment, using the most recent address on file with the U.S. Department of Education. Please check this site periodically for updates on the notice schedule. postcards.”
The only thing those who think they might be eligible should do is make sure they have the most up-to-date address on their studentaid.gov account.