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Student-Loan Processor Navient to Cancel $1.7 Billion of Debts

Por: The Wall Street Journal Politics January 14, 2022

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A former unit of student-loan giant Sallie Mae said it would cancel $1.7 billion in private student debt for about 66,000 borrowers to resolve claims that it engaged in deceptive lending practices. Navient Corp. , a student-loan servicer that split off from Sallie Mae in 2014, agreed to the sum in a settlement with 40 state attorneys general. The loans are private loans, so the losses will be covered by Navient’s investors rather than the... + full article



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