Nearly 78,000 members of the military who federal prosecutors said were overcharged on their student loans will begin to receive a total of $60 million in compensation next month, the Department of Justice announced Thursday.
Navient, the loan servicing company that was previously part of Sallie Mae, will fund the payments as part of a settlement reached last year to resolve charges that it charged excess interest on service members’ student loans.
The payments will range from $10 to $100,000, with the average check about $771, the Justice Department said.
Read more at Inside Higher Ed: https://www.insidehighered.com/quicktakes/2015/05/29/service-members-receive-navient-settlement-money
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