Navient settlement: Indebted student borrowers to benefit | AP News

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Navient settlement: Indebted student borrowers to benefit | AP News
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Tens of thousands of people with student loans could see their loans canceled as part of a nationwide settlement with Navient, a major student loan collecting company. If approved by a judge, the settlement cancels $1.7 billion in private loan debt.

State officials say there are various situations that make borrowers eligible.

For instance, in Massachusetts and Pennsylvania, the average debt being canceled is around $27,000, officials say. In Washington state, it’s about $25,000.From Philadelphia, she was the first in her family to go to college and needed financial aid to go. She chose the nursing program at Drexel University and, in 2006, took out a loan through Navient.

One student who enrolled in a master’s degree program did not complete the degree and struggled to repay the loan, it said.

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