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Navient

Navient

 3.7/5 (565 ratings)
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About Navient

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Navient offers and services federal and private student loans for qualified applicants. It allows students to manage their accounts via its website, providing access to educational tools and budgeting spreadsheets. Its rates are determined by Congress, but it offers a discount for students who set up automatic payments. Borrowers can pay on the website, over the phone or by mail.

Overall Satisfaction Rating

  • 5 stars
  • 4 stars
  • 3 stars
  • 2 stars
  • 1 stars

Pros

  • Military benefits
  • User-friendly mobile app
  • Auto-pay discounts

Cons

  • 2017 lawsuit
  • Can’t pay by credit card

Bottom Line

Navient is a federal and private student loan servicer and collector. It’s known as one of the largest federal loan servicers in the country, and borrowers can take advantage of its reduced interest rates through auto-pay.

Top Navient Reviews

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Rated with 5 stars
Verified

This company has been so easy to work with and the Customer Service is exceptional. There is always someone willing to help via email or a phone call away. There are so many optio...

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Rated with 5 stars
Verified

My loan was originally with Sallie Mae. When Navient came into the picture, they offered several repayment options, allowing one to choose the plan best suited for them. When my i...

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What is Navient?

Based in Wilmington, Delaware, Navient was created in 2014 after it parted ways with Sallie Mae Bank. It currently manages over $300 million in student loans for over 12 million debtors.

The organization has a rich history, originating in 1973 as a government-sponsored enterprise called Sallie Mae. In 2004, Sallie Mae turned into a private sector organization; in 2009, the U.S. Department of Education elected Sallie Mae to receive federal loans on its behalf. The company separated into Navient and Sallie Mae in 2014.

Today, Navient helps service millions of student loans to assist students in successfully navigating their financial aid.

How does Navient work?

Navient works as a loan servicer between borrowers and their lenders (the U.S. government). Its services include sending bills and account statements, processing payments, assisting borrowers with payment plans and requesting deferment or forbearance. It also helps certify borrowers for loan forgiveness.

Students can set up accounts on its website for an easier loan management experience. Its website allows auto-pay, repayment change, loan forgiveness, due date changes, payoff time calculation and tax documentation.

Take advantage of its online interactive budgeting worksheets, financial blogs and educational tools. In addition, Navient has a mobile app for a user-friendly and convenient experience.

Navient student loan requirements

Student loan repayment options differ depending on the type of loan, the promissory note and the lender. Federal student loans generally follow three plans: Standard, Graduated and Extended.

Standard payment plans last up to 10 years with a fixed monthly payment amount of $50 minimum. Monthly payment amounts are based on your total loan amount — the more you owe, the higher your monthly payment will be.

Graduated repayment plans are lower at first and then increase, usually every two years. They’re set to an amount that helps ensure your loans are repaid within the remaining terms. Repayment is generally 10 years and can go up to 30 years for consolidated loans.

Extended repayment plans offer up to 25 years to repay loans. They’re available for most borrowers with more than $30,000 in direct or FFEL Program loan balances.

Navient student loan rates

Congress sets interest rates through legislation, but borrowers who sign up for autopay may be eligible to reduce their interest rate by 0.25%. For Federal Direct Student Loans disbursed between July 2020 and June 2021, the following rates are fixed:

  • Direct subsidized loans and direct unsubsidized loans for undergraduate students: 2.75%
  • Direct unsubsidized loans for graduate and professional students: 4.30%
  • Direct Plus loans for parents of undergraduate students and Direct Plus loans for graduate or professional students: 5.30%

Navient FAQ

Is Navient a federal or private loan lender?
Navient is one of the largest federal student loan servicers. It also services private student loans from various lenders.
How do I pay my Navient loan?
Navient acquires payments differently depending on whether you have a federal or private loan, the status of your loan and if you have multiple loans that are combined into one billing or loan group. In general, Navient accepts payments via its website by connecting your bank account, by telephone to pay by debit card or by mail to pay by check.
Can Navient garnish wages?
Navient can garnish wages for private student loans after they file a lawsuit and receive a judgment. For federal student loans, Navient typically will not garnish wages.
Will Navient settle student loans?
Navient has accepted settlement offers for private student loans. However, It will not settle a student loan in good standing.

Is Navient legit?

Navient is one of the largest and most well-known companies for managing federal and private student loans. It does offer a wide array of online services, including repayment plan options and account management. It also offers a military benefits program for active-duty and post-active service members. Borrowers can also take advantage of reduced interest rates through auto-pay.

Navient Reviews

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How do I know I can trust these reviews about Navient?
How do I know I can trust these reviews about Navient?
  • 3,468,354 reviews on ConsumerAffairs are verified.
  • We require contact information to ensure our reviewers are real.
  • We use intelligent software that helps us maintain the integrity of reviews.
  • Our moderators read all reviews to verify quality and helpfulness.

For more information about reviews on ConsumerAffairs.com please visit our FAQ.

Page 1 Reviews 0 - 5
Rated with 5 stars
Verified Reviewer
Original review: June 26, 2021

Love working with Navient, ease of use, guided steps and helpful all the way. Also they are really good at keeping the user updated not just on anything pertaining to one's loan, but also any information that they see useful or that could have an impact on the user.

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Rated with 5 stars
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Verified Reviewer
Original review: Feb. 4, 2021

So far I’m OK because I know that they are going to take care of my credit. I really hope that things where they’re supposed to re-put meaning that things get better and so does my credit. I have confidence in Lexington

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    Rated with 4 stars
    Verified Reviewer
    Original review: Dec. 28, 2020

    Confusing process and website was difficult to navigate. The need to go to different sites was limiting. Phone calls need to be answered before having to navigate a robo chain. I understood more when bills were mailed.

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    Rated with 5 stars
    Verified Reviewer
    Original review: Dec. 27, 2020

    This company has been so easy to work with and the Customer Service is exceptional. There is always someone willing to help via email or a phone call away. There are so many options to help you out when you are low on your cash flow and need help with the payments-- this place has endless glory! I am so thankful!

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    Rated with 4 stars
    Verified Reviewer
    Original review: Dec. 25, 2020

    I have been paying IDR since 2010 loan consolidated 2018. What about my money? I am only paying off interest. The student loan operation is very unprofessional and there have been many problems paying this loan off!

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    Rated with 1 star
    Verified Reviewer
    Original review: Nov. 12, 2021

    I would not recommend Navient for your student loan. After making on time payments for more than 16 years via an automatic withdrawal from my bank, for which I was receiving an interest rate reduction, Navient informed me that my bank had refused payment because my account had been closed. (Not true). So Navient cancelled my auto pay and informed me that my interest rate reduction had been removed from my account. When I spoke with a rep from Navient they said I could re-enroll in auto pay and receive my former interest rate.

    Shortly after that I received notification that my payment schedule for my loan had changed which reduced my payment but extended my loan by several years. I did not request this and did not want this. I re-enrolled in autoPay but am being charged a higher interest rate. I have called several times and spoken to several people, always getting the run around. I have requested to speak to a supervisor but have not been able to. I think this company is very shady.

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    Rated with 2 stars
    Verified Reviewer
    Original review: Oct. 28, 2021

    They are quick to provide loans, easy to approve extensions and lower payments, but watch out. We borrowed $23k to get my son through college; to date we've paid back over $28k and still have a balance of over $27k. The explanation is interest and capitalized interest. And now they tripled my minimum monthly payment. Customer Service agents are very scripted and can appear knowledgeable as they read the script and provide figures. Most are English as a second language; many are difficult to understand. Would I do it all over again? Absolutely NOT.

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    Rated with 1 star
    Verified Reviewer
    Original review: Sept. 28, 2021

    I am a disabled veteran in the process of buying a house. On September 10, 2021, I asked for a goodwill adjustment to my credit report to remove a late payment from August 2020 due to covid. They said they couldn't. Then they sent me a letter stating that at my request, they removed an older account. This is a lie. I didn't request that. This resulted in my credit score dropping by 21 points. When I contacted them about their lie, they lied again and said the older account should have been removed after 2 years. Accounts are removed after 7. Why would a corporation do that to a disabled veteran? I have been paying on my account this whole time that covid has been going on. I received a 10% pay cut at work and still continued to pay them. And this is what they do to me? They knew that I was looking to buy a house. They know how credit reporting works. They removed the older account to spite me because I threatened to stop paying them. Capitalism is trash.

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    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 2, 2021

    You try to do the right thing and help out your family when possible. I co-signed a loan for my brother to go to school and now that he is in re-payment he has to have an account in good standing and also 12 months of on-time payments. This has been an ongoing battle but he is finally in good standing. Well, this is the month I am due to be released and for whatever reason, his auto-pay conveniently ended and his auto draft was not taken out for July so per Navient I am unable to be released and have to wait an additional year. This is beyond ridiculous. No reminders were sent that his auto pay would end, plus he is military back and forth with being activated so if it slipped his mind that he didn't notice the funds coming out, think he had good reason.

    I 100% believe this was a setup from Navient to have his auto pay stop the month before I could be released. While I do hold my brother partially accountable, I do feel like this is an isolated event that his payment was missed. Due to the back and forth military activations and covid related issues. My brother has set up an auto-pay with no expiration at the time so we will not have this issue in the distant future, however, Navient could have easily made an exception to this but instead, I have to wait an entire 12 months to be released.

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    Rated with 3 stars
    Verified Reviewer
    Original review: July 24, 2021

    Last year I would have given them Zero stars. They were absolutely awful. Bear with me.... In years prior, Navient called several times a day (even though I sent a letter asking that all communications be through snail-mail). They were threatening me, being disrespectful, steering me toward pricier options, saying they were going to sue me, and outright lying. I was so scared that I would have a panic attack every time my phone rang. I couldn't sleep at night. I tried to reason with them but they made the process extremely difficult and distasteful and would not work with me. I tried to block them but they found a way to get through several times a day. Even when I changed my number. Their tactics were abusive, dishonest, threatening - and ILLEGAL.

    I was contacted by an outside advocate who helped me get a forbearance until Feb 2021. They also were supposed to withdraw my negative credit reports to the bureaus. (I have to check on that still.) Unfortunately, I had to face breast cancer and surgery starting Jan 2021. Not to mention Covid-19 and the death of friends and family. The calls started again but the tone was different. Once a day- which is legal.

    I called today and Michelle was respectful, helpful, cheerful, professional - and full of options. I ended up speaking to Chad- a manager there who has been with the company 14 years- and he helped me with the things that Michelle did not have the authority to do. He was personable, professional, patient, kind, and was involved in the sensitivity training. My Payments will be $0.00/month on IDR. I have not completed the process- and I cannot forget years of abuse and harassment- so I give them 3 stars. I feel that they can be an awesome company if they continue to act properly.

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    Navient Company Information

    Company Name:
    Navient
    Website:
    www.navient.com