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Navient rebuffs Pa. attorney general over deceptive lending allegations

Navient Corp. has responded to a lawsuit filed by Pennsylvania's attorney general, calling the complaint's allegations "unfounded."

Pennsylvania Attorney General Josh Shapiro accused the company of engaging in "unfair and deceptive lending" practices, and failing to provide "proper repayment plans" to student consumers.

Navient said it complies with all rules and regulations governing the student loan program. In a press release the company pointed to an analysis that showed that federal student loan borrowers serviced by Navient are 37% less likely to default than those whose loans are serviced by other organizations.

"We will vigorously defend our record in court, and are confident we will prevail following an impartial review of the facts," the company said in a statement.