Source: Stacy Cowley, N.Y.Times ( Paid Registration )

Navient, a large owner of private student loan debt, has created, but not publicized, a program that allows borrowers to apply to have their loans forgiven.

Navient’s new program — which it calls a “school misconduct discharge” — is something of a private parallel to a federal program known as “borrower defense to repayment,” which allows those who were seriously misled by their schools to have their federal student loans eliminated.

A nonprofit advocacy group, the Project on Predatory Student Lending, published Navient’s application form and an instruction guide for borrowers with private loans who are seeking relief on the grounds that their school lied to them.

Read Full Article: There’s a little-known program to cancel private student debt