Shay Diddy

Shay Diddy

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$1.7 Billion In Private Student Loans From Navient To Be Cancelled!

Navient, one of the largest student loan servicing companies in the US, has settled allegations of deceptive lending practices for $1.85 billion. The settlement announced Thursday will cancel student loans for tens of thousands of borrowers around the US.

Navient was accused by multiple State's of engaging in "deceptive and abusive practices, targeted students who it knew would struggle to pay loans back, and placed an unfair burden on people trying to improve their lives through education."

The settlement agreement which has finally been reached after 4 years of litigation, will cancel student loans for approximately 66,000 borrowers across 36 states and Washington, D.C. with loans from between 2002 and 2010 that "later defaulted charged off."


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