Attorney General Josh Shapiro Announces $1.85 Billion Settlement with Student Loan Servicer Navient
Attorney General Josh Shapiro announced today that Navient, known as one of the nation’s largest student loan servicers, will provide relief totaling $1.85 billion to resolve allegations of widespread unfair, deceptive, and abusive student loan servicing practices and abuses in originating predatory student loans.
“Navient repeatedly and deliberately put profits ahead of its borrowers – it engaged 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,” said Attorney General Shapiro. “Today’s settlement corrects Navient’s past behavior, provides much needed relief to Pennsylvania borrowers, and puts in place safeguards to ensure this company never preys on student loan borrowers again.”
