Class-action settlement: Navient student loan servicer users have until today to file claim for $28 million settlement

Student loan borrowers from three states who used Navient, a private student loan servicer, have until the end of Monday to file a claim to receive part of a $28 million class-action settlement.

Navient agreed to settle class-action lawsuits from borrowers after the company illegally collected money from students after it went bankrupt.

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There are two settlements available for Navient student loan users: the first one, which is worth $28 million, and the second, which is worth $16 million.

People who are eligible for a portion of the first settlement include those who were required to repay Navient student loans, filed for bankruptcy in a U.S. bankruptcy court outside of Texas, Louisiana, or Mississippi on or after Oct. 17, 2005, obtained a discharge order, and never reaffirmed their “Covered Student Loans.”

There is no set award amount for the first settlement because it will depend on the types of damages that students experienced. Navient agreed to let go of certain student loans that were collected, as well as restore damages to the credit reports of borrowers who were affected. This settlement claim must be filed by Nov. 13 and can be completed by clicking here.

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There is a second settlement that came from the same lawsuits that is worth $16 million and is not limited to Texas, Louisiana, and Mississippi. It is compensation to students affected by Navient’s illegal student loan collection. If a student was a borrower or co-borrower who filed for bankruptcy protection on or after Oct. 17, 2005, never reaffirmed their private student loans, and obtained a discharge order, then they will be eligible for the $16 million settlement.

The second settlement will pay 20% to 100% of the damages suffered, including student loan payments made after Navient’s bankruptcy. A claim must be filed by Nov. 20 and can be completed by clicking here.