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Navient will also pay a total of 1425 million of which 95 million will be distributed to approximately 350000 federal loan borrowers who were placed in certain types of long-term. William BretzgerThe Wilmington News-Journal via AP file January 13 2022 at 615 pm CST By Bob D. 6oskwukk3knuxm BOSTON -- Navient a major student loan collecting company agreed to cancel 17 billion in debt owed by more than 66000 borrowers across the US. Navient settlement iowa . A total of 95 million in restitution payments of about 260 each will be distributed to. Under the terms of the settlement Navient will cancel the remaining balance on 17 billion in subprime private student loan balances owed by more than 66000 borrowers nationwide. Iowa Attorney General Tom Millers office announced Thursday that the state is among 37 others and the District of Columbia that have reached a settlement with Navient a major student loan. In addition Navient will pay 1425 million to the attorneys general. 11 h...