AG Shapiro Announces $1.85 Billion Student Loan Settlement, PA to Get Over $70 Million | WDIY Local News
Attorney General Josh Shapiro recently announced that a settlement with the national student loan servicer Navient will bring millions of dollars in relief to Pennsylvania borrowers. WDIY’s Sarit Laschinsky has more.
Around 13,000 Pennsylvania borrowers will receive $3.5 million in restitution payments for the settlement, while $67 million in debt cancellation will be distributed to another 2,467 Pennsylvanians.
Nationwide, Navient will cancel the remaining balance on nearly $1.7 billion in subprime private student loan balances owed by almost 66,000 people. $95 million in restitution payments will also be distributed to around 350,000 federal loan borrowers.
More information can be found at https://www.navientagsettlement.com/. Shapiro also encourages all Pennsylvanians working in the government or nonprofit sectors to review the Public Service Loan Forgiveness website to determine if they might qualify for loan forgiveness.
(Original air-date: 1/18/22)