“ Student Loan Forgiveness For Some Navient Private Student Loans
The settlement agreement for Navient provides for $1.7 billion in private student loan cancellation. Here are the details:
- Only certain private student loans issued by Navient or its predecessor, Sallie Mae.
- Qualifying borrowers must have attended certain for-profit educational institutions such as Corinthian schools, DeVry University, the Art Institutes, ITT Technical Institutes, and others.
- The student loans must have been disbursed between 2002 and 2014.
- The student loans must have been delinquent (behind on payments) for at least seven monthly billing cycles prior to June 30, 2021.
- In most cases, only loans that are still collectible under the applicable statute of limitations, or are still being reported to credit bureaus, as of June 30, 2021, are eligible.
- Borrowers must live in specific states covered by the settlement. Many, but not all, states will qualify.”