Will the Navient Student Loan Settlement Eliminate My Parent Plus Loans?

Question:

Dear Steve,

I attended the Los Angeles Film School, a for-profit trade school for aspiring creatives who want to get into the entertainment business. Unfortunately, before going to school, I was lured in by the same predatory practices that enticed me when I was 19. 11 years later, I am still in debt with 2 degrees that do nothing for me and credits that weren’t transferable to another college.

With this recent Navient settlement, how can I see if I am one other student who qualifies? And does this include Parent Plus recipients?

Kris

Answer:

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Dear Kris,

The particulars of the Navient student loan settlement don’t appear to include the LA Film School. You can look at the list of schools over here.

The forgiveness is primarily for a small subset of private student loans offered through Sallie Mae and Navient.

A Parent Plus loan is a federal loan, and the most that could be received would be $260 if that loan fell under the small settlement that included federal student loans.

But the bottom line is there is nothing you can apply for. Navient will notify eligible debtors by sending letters between now and July 2022.

Ensure your loan servicer has your updated mailing address, and keep your eye on the mailbox.

Sincerly,

You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.