Navient Settles Predatory Student Loan Claims For $1.85B

Navient, a major student loan company, is involved in a $1.85 billion settlement due to lawsuits from several state attorneys general. They accused Navient of unfair practices and issuing predatory loans to students unlikely to repay. If approved by a federal court, the settlement will provide nearly 350,000 borrowers with $260 each, and cancel the remaining loan balances for 66,000 others.

What is the total amount of the settlement involving Navient?

What accusations were made against Navient by several state attorneys general?

What type of loans did Navient allegedly make to students?

How many borrowers are expected to receive compensation if the settlement is approved?

What will happen to the remaining loan balance of 66,000 people as part of the settlement?