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Student loan processor Navient to cancel $1.7 billion of debts

Gabriel Rubin, Douglas Belkin  |  January 14, 2022

By Gabriel T. Rubin and Douglas Belkin, includes “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 … Nearly all the canceled loans originated at Sallie Mae from 2002 to 2010, at a time when student debt soared … It had been one of the primary federal contractors, serving around six million borrowers. Its accounts were transferred to a new contractor, Maximus, whose role was approved by the Education Department.”

Read the full article on: The Wall Street Journal

 
 
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