Who gets their loans Cancelled by Navient?
Only loans held by the Department of Education are eligible for the loan cancellation program. As of September 29, 2022, ED issued a FAQ announcing that borrowers with federal student loans not held by ED cannot obtain one-time debt relief by consolidating those loans into Direct Loans.
Who will benefit from Navient student loan forgiveness?
The private loan debt relief will primarily go to borrowers who took out private subprime student loans (made to borrowers with low credit scores) through Navient's predecessor, Sallie Mae, between 2002 and 2014, and then had more than seven consecutive months of delinquent payments prior to June 30, 2021.
Who gets part of Navient settlement?
Borrowers need not apply for the Navient settlement to get their loans forgiven. There isn't a Navient Settlement Application. By July 2022, Navient will send you a letter like the one below, showing which of your loans will be canceled.