-Navient Student Loan Forgiveness. February brings some updates to prior information. You have questions, I have some answers. This video addresses some of the questions people have been asking about who qualifies, how will it work, and when will student loan cancellation happen.
The attorney generals of 38 states reached a settlement with Navient. The Navient settlement will offer $1.7 billion in private student loan forgiveness for specific borrowers. This video discusses the questions being asked about who qualifies for the cancellation of their private student loans.
Here is Part 1 which discusses requirements for loan forgiveness.
Matt Berkus is a Colorado licensed bankruptcy and student loan relief attorney with 19 years of experience. I offer free phone consultations to residents of Colorado for the purpose of bankruptcy. Click on my websites for additional information and for the phone number to call and schedule.
Here is the link to the text of the Navient Settlement agreement used in this video, https://ago.mo.gov/docs/default-source/press-releases/2022-01-12-signed-consent-judgment—final(13077638-2).pdf?sfvrsn=cf57fbb9_2
This is the list of states that are included in the settlement. If your last known address with Navient is not in one of these states, then you DO NOT qualify for forgiveness.
Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nebraska, Nevada, New Jersey, New Mexico, New York, North Carolina, Ohio, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Vermont, Virginia, Washington, West Virginia, Wisconsin, and the District of Columbia.
For Category 2 of eligible loans, the loans issued for students attending schools operated by the following qualify:
-ACT, ABC Training Center of Maryland, TCI.
-Alta College, aka Westwood College and Redstone.
-Apollo Group, aka Univ. of Phoenix.
-Bridgepoint Education, aka Ashford Univ.
-Career Education Corp, which includes Le Cordon Blue, Sanford Brown, Colorado Technical Univ. Etc.
-Center of Excellence in Higher Education, aka College America.
-Corinthian Colleges, aka Everest, Heald, and Wyotech.
Education Corp. of America.
Education Management Corp., Art Institute, Argosy, Etc.
Globe/MN School of Business
Graham Holdings, aka Kaplan
ITT Technical Institute
Marinello School of Beauty
Premier Education Group.