TBA Law Blog


Posted by: Kate Prince on Jan 13, 2022

Tennessee Attorney General Herbert H. Slatery III today announced that Navient, one of the nation’s largest student loan providers, will pay $1.85 billion to resolve allegations of deceptive practices in originating predatory student loans. According to a coalition of 39 attorneys general, Navient steered struggling students into costly long-term forbearances despite saying it would help borrowers find the most affordable income-driven repayment options. Under the terms of the settlement, Navient will cancel the remaining balance on more than $1.7 billion in subprime private student loan balances owed by approximately 66,000 borrowers nationwide. In Tennessee, $2,861,854 will be available in restitution and $47,626,335 will be available in debt relief. The state will also receive $687,456 of the settlement. Read more from the AG’s office.