On January 18, 2022, Hawaii Attorney General Holly T. Shikada announced a settlement with Navient that provides relief to resolve allegations of widespread unfair and deceptive student loan servicing practices and abuses in originating predatory student loans. Under the terms of the settlement, which requires court approval, Navient will cancel the remaining balance on $1.7 billion in subprime private student loan balances owed by more than 66,000 borrowers nationwide. In addition, Navient will pay $142.5 million to the attorneys general. A total of $95 million in restitution payments of about $260 each will be distributed to approximately 350,000 federal loan borrowers who were placed in certain types of long-term forbearances. Hawaii will receive a total of $367,867 in restitution payments for 1,380 federal loan borrowers and 196 Hawaii borrowers will receive a total of more than $4.3 million in private loan debt cancellation. Borrowers receiving private loan debt cancellation will receive a notice from Navient by July 2022, along with refunds of any payments made on the cancelled private loans after June 30, 2021. Federal loan borrowers who are eligible for a restitution payment of approximately $260 will receive a postcard in the mail from the settlement administrator later this spring. Federal loan borrowers who qualify for relief under this settlement do not need to take any action except update or create their studentaid.gov account to ensure that the U.S. Department of Education has their current address. For more information, visit www.NavientAGSettlement.com.