Thousands of Nevadans share in student loan abuse settlement

CARSON CITY, Nev. (AP) — Thousands of Nevadans will share in a big settlement that 39 state attorneys general negotiated with a major student loan collecting company accused of abusive lending practices involving more than $1 billion in loans. Nevada Attorney General Aaron Ford announced Friday that Nevadans are among those nationally who will benefit from the settlement with Navient. The company agreed to cancel $1.7 billion in debt owed by more than 66,000 borrowers nationally and pay more than $140 million in other penalties. Ford says 3,952 federal loan borrowers in Nevada will receive more than $1 million in restitution. Nearly 600 will receive private loan debt cancellations totaling more than $17 million.