Illinois is one of several states that will share in a $1.85 billion settlement with a student loan servicer.
Attorney General Kwame Raoul says Navient engaged in misleading practices that resulted in borrowers going deeper in debt, even when lower cost alternatives were available to the borrowers. Under the settlement, more than 18,000 Illinois clients of Navient will get restitution averaging around $260 each, and more than 5,000 borrowers in the state will receive debt cancellation.
Navient will also pay Illinois more than $7 million under terms of the agreement.
