The opportunity for private student loan forgiveness is limited to borrowers with Navient private student loans. Despite the national focus on President Joe Biden’s efforts to cancel federal student loan debt, a lesser-known program offered by Navient is providing relief to eligible borrowers. Navient, formerly a major servicer of private and federal student loans, recently announced a private student loan forgiveness application for borrowers who believe they have been defrauded by their schools. The application process requires submitting supporting documentation, unlike the federal Borrower Defense to Repayment program. Borrowers seeking relief should contact Navient’s Office of the Customer Advocate to request the School Misconduct Discharge Application. If Navient fails to provide the application or respond within 30 days, borrowers are advised to file a complaint with the Consumer Financial Protection Bureau. This opportunity is unique to Navient private loan holders, as there are currently no similar private student loan forgiveness processes available. While federal student loans are eligible for repayment and forgiveness programs, private loans are not. The Biden administration has authorized the discharge of billions of dollars in federal student loan debt, benefiting millions of borrowers. Please rewrite this sentence so that it conveys the same meaning:
The company’s profits have increased significantly over the past year.
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