Skip to main contentSkip to main content
You have permission to edit this article.
Edit
AP

Thousands of Nevadans share in student loan abuse settlement

  • 0

CARSON CITY, Nev. (AP) — Thousands of Nevadans will share in a big settlement 39 state attorneys general negotiated with a major student loan collecting company accused of abusive lending practices tied to more than $1 billion in loans, Nevada Attorney General Aaron Ford said Friday.

Navient agreed to cancel $1.7 billion in debt owed by more than 66,000 borrowers across the U.S. and pay more than $140 million in other penalties, under the deal first disclosed on Thursday.

Ford says 3,952 federal loan borrowers in Nevada will receive a total of $1.05 million in restitution and 592 Nevada borrowers will receive private loan debt cancellations totaling more than $17 million.

The deal resolves claims dating to 2009 when Navient began steering struggling student loan borrowers into costly terms instead of counseling them about more affordable income-driven repayment plans, Ford said.

“This settlement provides relief to thousands of Nevada students who were victims to Navient's misrepresentations and predatory practices,” he said. He said it "also serves as a caution to other loan servicers that these practices will not be tolerated, and it is their responsibility to assist borrowers in an honest and professional manner.”

Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

0 Comments
0
0
0
0
0

Get Government & Politics updates in your inbox!

* I understand and agree that registration on or use of this site constitutes agreement to its user agreement and privacy policy.

Related to this story

Most Popular

BRUSSELS (AP) — The United States and NATO on Wednesday rejected key Russian security demands for easing tensions over Ukraine, but left open the possibility of future talks with Moscow to discuss other issues like arms control, missile deployments and ways to prevent military incidents.

WASHINGTON (AP) — Republican leader Kevin McCarthy’s refusal to provide information to a bipartisan House committee about his call with then-President Donald Trump during the Capitol riot is deepening a standoff between the committee and GOP lawmakers, forcing investigators to consider whether they could subpoena one of their own.

PIERRE, S.D. (AP) — The chairman of the Sisseton Wahpeton Oyate offered South Dakota's Legislature a history lesson on Thursday during the annual State of the Tribes address, as he emphasized tribal sovereignty and government-to-government relations.

WILMINGTON, Del. (AP) — Two days after the election on Nov. 3, 2020, the Oath Keepers were already convinced that victory had been stolen from President Donald Trump and members of the far-right militia group were making plans to march on the U.S. Capitol.

The seditious conspiracy case against members and associates of the far-right Oath Keepers militia group marks the boldest attempt so far by the government to prosecute those who attacked the U.S. Capitol, but invoking the rarely used charge carries considerable risks.

INDIANAPOLIS (AP) — The Indiana Senate will not consider contentious Republican-backed legislation that supporters say would have increased parental control over what their kids learn but that teachers and other critics say would have amounted to censorship, a top lawmaker said Friday.

HARRISBURG, Pa. (AP) — The title of “Pennsylvanian” may not carry quite the cachet of declarations of fighting socialists or getting tough on China, but it's increasingly the go-to weapon for Republican primary candidates in one of the nation's premier U.S. Senate contests.

Get up-to-the-minute news sent straight to your device.

Topics

News Alerts

Breaking News