Pennsylvania student loan borrowers will receive over $70 million in relief as part of a national settlement with Navient, one of the nation’s largest student loan servicers.
Attorney General Josh Shapiro said Navient will provide $1.85 billion to resolve allegations of unfair, deceptive, and abusive loan servicing practices dating back more than a decade.
“Navient repeatedly and deliberately put profits ahead of its borrowers – it engaged in deceptive and abusive practices, targeted students who it knew would struggle to pay loans back, and placed an unfair burden on people trying to improve their lives through education,” Shaprio said in a statement.
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