Mississippi News
Some Mississippians will benefit from Navient settlement
Some Mississippi borrowers will benefit from $8 million student loan settlement
Navient, one of the country's largest student loan servicers, has agreed to forgive $8.2 million in private debt for Mississippi borrowers under a settlement reached by the Mississippi Attorney General's Office last week.
Mississippi borrowers who qualify under the settlement, which was approved Saturday by a Hinds County Chancery Court judge, will see their debt erased in the next 90 days.
The Attorney General's Office said it did not know yet how many borrowers qualify for the settlement, but it is likely only a narrow slice of the 438,000 Mississippians with student debt. The settlement mostly applies to borrowers with loans that became past-due starting in July 2014. Borrowers who are current on their loan payments will not see their debt forgiven.
The settlement also requires Navient to make $1.7 million in restitution payments to Mississippi borrowers who the company placed into certain forbearance plans. That will likely amount to an average restitution payment of $260 depending on how many Mississippi borrowers qualify, said Michelle Williams, the attorney general's chief of staff.
Williams said Mississippi's settlement is substantially similar to another deal that Navient announced last week. Starting in 2017, 39 states sued Navient for a slew of deceptive and illegal lending practices on subprime student loans the company knew borrowers could likely never repay. The settlement agreement reached with those states requires Navient to cancel $1.7 billion in student debt, and pay $95 million in restitution.
Mississippi did not join that lawsuit and instead sued Navient separately in 2018. In its complaint, the Attorney General's Office described how Navient's practices contributed to making Mississippi one of the worst states in the country for borrowers with student loan debt. Borrowers in Mississippi are significantly more likely to default than in other states — the fourth highest rate in the nation.
“The result of Navient's conduct is a generation of Mississippi youth suffering under the crushing burden of a mountain of unnecessarily high student loan debt,” the suit alleged.
Mississippi borrowers who think they may qualify for the settlement should make sure their www.studentaid.gov account is updated to their current address.
This article first appeared on Mississippi Today and is republished here under a Creative Commons license.
Mississippi News
Monroe County leaders take to streets for good cause
SUMMARY: Members of Monroe County's law enforcement and Aberdeen city leaders participated in the Special Olympics Mississippi Torch Run, a fundraiser for the Special Olympics. Officers from the Aberdeen Police Department and Monroe County Sheriff's Office, along with the new Mayor of Aberdeen and Police Chief, escorted the torch through town. The torch will be escorted by law enforcement agencies across the state until it reaches Biloxi for the Special Olympics Summer Games. This event is a grassroots effort to support the Special Olympics and promote awareness for the cause. Follow for more updates on Facebook.
The post Monroe County leaders take to streets for good cause appeared first on www.wcbi.com
Mississippi News
Jackson couple claims they’ve been harassed by motorcycle group
SUMMARY: A Jackson couple has been enduring harassment and noise from a motorcycle club for the past year, with the club's loud activities causing distress for the couple. The club, Outcast Motorcycle Club, has defended their actions, stating that they can't help the noise from their motorcycles. The couple, particularly concerned about the health of the wife, has contacted the police multiple times for assistance. Jackson Police Chief Joseph Wade has stated that if the club is found to be a nuisance, they may take action to shut it down. The club, with a permit to operate at the location, may have to consider relocating if the situation worsens.
The post Jackson couple claims they've been harassed by motorcycle group appeared first on www.wjtv.com
Mississippi News
PERS bill awaits Mississippi governor’s signature
SUMMARY: Mississippi towns and cities are relieved after lawmakers reached a deal in the final days of the Legislative Session to address the Public Employees' Retirement System (PERS). The bill, awaiting Governor Tate Reeves' signature, removes power from the PERS Board and requires any employer contribution increase to be recommended to the Legislature. The bill also stops an immediate 5% employer contribution increase, instead implementing a gradual half a percentage point increase over five years. Hattiesburg Mayor Toby Barker, president of the Mississippi Municipal League, sees this as the first step in an ongoing issue, with $110 million allocated to PERS by the Legislature.
The post PERS bill awaits Mississippi governor's signature appeared first on www.wjtv.com
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