Kentucky settles having student loan servicer Navient to own $1.85 million

Kentucky settles having student loan servicer Navient to own $1.85 million

FRANKFORT, Ky. – Attorney General Daniel Cameron announced a $1.85 billion settlement between 39 attorneys general and Navient Corporation (Navient) and its subsidiaries related to their servicing of student loans.

Navient, known as among the country’s largest student loan servicers, features offered to pay $step one.85 million in order to 38 claims and the Region away from Columbia. Kentucky are certain to get $step 1,419,, along with $step 1,241,950 when you look at the restitution to help you 4,659 Kentucky individuals.

New consent judgement eliminates accusations of individual safety law abuses related to Navient’s presumably misleading education loan maintenance practices. Within the regards to the new payment, Navient will cancel the remaining equilibrium of over $1.six million in private student loan balances to own 62,100 consumers all over the country, including $43,042,898 billion during the stability for a few,155 Kentuckians. (more…)

Read More