Private Student Loan Lender Offers Debt Cancellation, But Borrowers Have to Ask

The opportunity is limited to borrowers with Navient private student loans.

Students walk past a graduation cap and stole at George Washington University in Washington on May 2, 2022. Stefani Reynolds/AFP via Getty Images

While debates over President Joe Biden’s attempts to cancel federal student loan debt capture national attention, a little-known program directed by a one-time leading private student loan company is providing relief for eligible borrowers.

Navient, once a major servicer of private and federal student loans, stopped managing federal student loans in 2021. By that point, all federal loans in the Navient portfolio were transferred to another servicer, Aidvantage.