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Harrisburg, Pa. – Allegations of widespread unfair, deceptive, and abusive student loan servicing practices and abuses in originating predatory student loans led to Thursday's announcement of a massive settlement.
The settlement resolves allegations of 'unfair, deceptive and abusive' practices by the student loan servicing company Navient, Shapiro said Thursday.
Navient, a major student loan servicing company, has settled allegations of deceptive lending practices for $1.85 billion, officials said Thursday in announcing a settlement that would cancel student loans of tens of thousands of borrowers.
Civics column: How much authority does a President have, when it comes to waiving student debt? That depends.
The Biden administration has forgiven federal student debt through four major loan forgiveness programs, including PSLF and borrower defense.