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A Navient settlement means student debt relief payments for thousands of Connecticut residents

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Thousands of Connecticut residents with student loans will be getting cash payments for debt relief.

That's as a result of a $2 billion settlement with the student loan company, Navient.

Over 1,300 borrowers will receive $19 million in private loan debt relief, and close to 5,000 borrowers will get $1.3 million in restitution.

Thirty-nine state attorneys general, including Connecticut AG William Tong, negotiated the agreement. They claim since 2009 Navient has been using deceptive practices, steering struggling students into costly, long-term repayment plans.

Tong called the settlement a “massive victory for borrowers, but there’s still a lot of work ahead.” He said Connecticut residents owe billions in student loans, making it difficult for many to purchase a home or start a family.

Sabrina is host and producer of WSHU’s daily podcast After All Things. She also produces the climate podcast Higher Ground and other long-form news and music programs at the station. Sabrina spent two years as a WSHU fellow, working as a reporter and assisting with production of The Full Story.