Don't miss out on the money. A student loan company has settled a lawsuit and New Yorkers have a limited amount of time to file a claim.

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Navient Solutions, LLC and Navient Credit Finance Corporation entered into a financial settlement on July 21, 2023. While Navient has denied any wrongdoing, it has agreed to the terms of the settlement. There are millions of dollars available to borrowers affected by Navient's collection actions.

Navient paid $16,000,000 into an escrow account to establish the Title IV Settlement Fund.

In addition to monetary funds, Navient is providing $182 million in debt relief to cetrain borrowers,

Navient will forever forego collection from all Discharged Title IV Borrowers of the entirety of the amount of all outstanding balances (whether comprised of unpaid principal, unpaid interest, and/or unpaid fees) on Title IV Covered Loans that relate to the amount by which the initial disbursement of the Title IV Covered Loan exceeded the Cost of Attendance (the “Cost of Attendance Overage Debt Relief”).

Photo by Kenny Eliason on Unsplash
Photo by Kenny Eliason on Unsplash

According to Business Insider, you may qualify to submit a claim if:

- You filed for bankruptcy on or after October 17, 2005
- You were obligated to pay your loans before filing for bankruptcy
- A court approved your loan discharge via bankruptcy
- You never reaffirmed your loans

If you did not make any payments on your loans after they were approved for discharge you are not eligible to file a claim for payment.

You must file your claim by Monday, November 20, 2023.

You will need to provide the unique ID and PIN, which can be found on the settlement notice sent to you. You can file your application here.

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