Rhode Island is part of a nearly two-billion-dollar national settlement with a student loan company.
Attorney General Peter Neronha says the agreement with Navient, one of the country's largest student loan firms, resolves allegations of widespread unfair and deceptive loan servicing and abuses.
“There are thousands of student loan borrowers in our state and not one of them deserves to be taken advantage of by their loan servicer,” said Attorney General Neronha. “When a student loan servicer, or any business for that matter, operates as a bad actor and harms Rhode Islanders, this Office will step in to protect them. This settlement will directly benefit hundreds of borrowers in Rhode Island with debt cancellation, and thousands more borrowers by ensuring these practices will not happen again.”
As part of the settlement, 226 Rhode Island borrowers will get four-point-six-million-dollars in private loan debt relief.
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