Originally published on 2/27/26

At least 100,000 student loan borrowers who were steered into forbearance—a temporary pause or reduction in loan payments—by Navient in 2017 or earlier could be getting a check in the mail as a result of the settlement between the Consumer Financial Protection Bureau (CFPB) and the lender in the upcoming weeks. Currently, the checks are believed to be around a few hundred dollars, but some borrowers could receive more. To learn more about the Navient settlement, keep reading.  

What to know about the Navient settlement

Navient, formerly part of Sallie Mae, was a Delaware-based student loan servicer that helped more than 12 million people pay for higher education, but in 2024 the company was banned from handling federal loans due to the $120 million settlement agreement with the CFPB. 

“For years, Navient’s top executives profited handsomely by exploiting students and taxpayers,” former CFPB Director Rohit Chopra said in a statement. “By banning the notorious student loan giant from federal student loan servicing and ensuring the wind down of these operations, the CFPB will finally put an end to the years of abuse.”

According to the CFPB, Navient actively pushed borrowers away from affordable repayment plans and into expensive forbearances instead, a move that resulted in steep interest charges. 

“People suffered real consequences—delaying children, not buying homes or returning to school when they wanted to, and more,” consumer advocate Julia Barnard told CNBC. 

Now, two years after the initial ban and settlement announcement, experts have begun looking into how much money student loan borrowers will be receiving. 

Higher education expert Mark Kantrowitz told CNBC he believes more than 100,000 people who used Navient in 2017 or earlier could be eligible for the settlement. Payments will be a few hundred dollars, depending on the borrower’s financial situation, Kantrowitz said. But some Reddit users have reported that they’ve received $2,000 in settlement money. 

“These checks are necessary and will help make debtors whole after the harm they faced due to Navient’s misconduct,” Barnard said. “I’m happy to see that debtors are already receiving these checks that they’re entitled to.” 

How to get money from the Navient settlement

If you qualify for the Navient settlement, the CFPB advises reaching out to Rust Consulting at 1-800-711-8418 or navient_info@rustcfpbconsumerprotection.org. You can also mail them a letter at CFPB v Navient, P.O. Box 2561, Faribault, MN, 55021-9561. 

“I applaud the CFPB for obtaining concrete relief for borrowers and deterring similar failures in the future,” former U.S. Under Secretary of Education James Kvaal said in 2024. “Today’s action builds on the Biden-Harris Administration’s work to hold loan servicers accountable and protect borrowers, including more than 1 million borrowers who have received debt relief by fixing past failures to properly track progress toward forgiveness, such as correcting harms from forbearance steering.”

Link to original: https://www.womansworld.com/life/money/navient-settlement-100000-borrowers-could-get-money-are-you-eligible