Georgia, other states reach $1.85 billion settlement with loan company

ATLANTA — Attorney General Chris Carr has announced that the state of Georgia joined 38 states in reaching a $1.85 billion nationwide settlement with Navient, one of the nation’s largest student loan servicers.

“For years, Georgians who turned to Navient for help with repaying their student loans saw their debt worsen rather than improve due to the company’s deceptive practices,” Carr said in a news release. “By reaching this settlement, Georgia borrowers will receive much-needed relief totaling more than $118 million as they work to regain their financial footing. We are proud of this announcement and hope it serves as a reminder that we will pursue servicers that unfairly take advantage of those struggling with student loan debt.”

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