Navient to pay $1.6M to Vermont student borrowers

BURLINGTON, Vt. (WCAX) - The Vermont Attorney General’s office Thursday said Vermonters with student loans will see $1.6 million in debt relief as part of a settlement with Navient, one of the nation’s largest student loan servicers.

The company last week agreed to cancel $1.7 billion in debt owed by more than 66,000 borrowers across the U.S. and pay over $140 million in other penalties to settle allegations of abusive lending practices.

If approved by the court, 65 qualified Vermont borrowers will receive private loan debt cancellation from Navient.

Darren Perron spoke with Joshua Cohen, a St. Albans student loan attorney, about the agreement.

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