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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
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- 3 stars
- 2 stars
- 1 stars
- Military benefits
- User-friendly mobile app
- Auto-pay discounts
- 2017 lawsuit
- Can’t pay by credit card
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.
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I file to consolidate my student loans but they placed them on my credit report and caused my score to decline .1. Steering borrowers into forbearance instead of income-driven repayment plans. Forbearance More Costly: New Jersey claims that Navient puts profits ahead of people by allegedly steering student loan borrowers toward forbearance (pausing student loan payments) instead of income-driven repayment plans (which bases your student loan payment on discretionary income and family size). Income-Driven Repayment Better Option:
I borrowed $$ to get my advanced degrees, expecting I would get a commensurate job. Oops! I went into low-paying State Civil Service. (I thought I could get my loans forgiven thru the Public Service Loan Forgiveness program, but apparently I didn't fill out the right paperwork at the beginning...?) I got on Navient's income-based program. Without that program, they want me to pay them over $1500/month. But I was able to simply send them my tax returns to prove I couldn't afford that. In fact for a couple of years, I only had to give them permission to "link" to the IRS. But suddenly that's not good enough. Now they want me to fill out 17 pages for each of several loans (which apparently they had dis-consolidated), EACH YEAR, in order to continue with the income-based program. I called and said "You can't make me do that, it violates the Federal Paperwork Reduction Act".
I must have hit a nerve. Navient 1) hung up on me, 2) never contacted me again, 3) started harassing my brother and my two references -- telling them they don't know where to find me, even though I haven't moved or changed my phone in 20+ years -- and 4) started putting a derogatory report on my credit every couple of months FOR EACH LOAN. They have thereby driven my credit rating from "good" to "poor".
I was using this garbage company to pay my student loans. Covid 19 struck in March of last year and a notice was put in bold print on their site "All payments have been suspended until September 2020 or until further notice". I tried to payoff my student loan but the online payments would not accept it. Months later I do a credit check and I have been marked 150 days late. Destroyed my credit. Only way I could get my credit back in place is if Navient, the money making machine, just once stops being a business for a second and own up to the message they had displayed on their website in March and remove my late payments.
I called twice and wrote a letter and mailed it in. It got me nowhere. How could you be this like this? I truly think this is illegal but I don't have the lawyer to match theirs. It's government, I'll never win. So here I am venting. If Navient were a person, I would consider finding him/her. But it's the USA, the rich get richer off of everyone's debt. We'll never win.
Navient is not honoring the President’s Student Loan Deferment during this COVID crisis. My loans x 2 meet all the requirements. At first Navient had posted on its site that all loans meeting the requirements would automatically be deferred and borrowers would receive notice by mail. This was in Sept 2020. I never received notification in mail. I called and the rep allegedly deferred mine for 2 months. I find out that they were placed under Forbearance. I called again after my next payment was due. I was told that Navient is waiting for government funding. They placed me under Forbearance again. They are now refusing to honor the Presidential Stimulus Relief, despite my loans meeting all the requirements.
As a senior citizen with a credit report that reads on every line "PAID ON TIME NEVER LATE". I used to think creditors wanted to do the right thing. Then I co-signed a family members School Loans and was introduced to Navient. Robocalls harassing me for payment even though the student borrower had scheduled a payment. Sometimes 10 calls a day. I thought Robocalls were ILLEGAL for this type business and found out they are but no one was doing anything about it. So I called an attorney who told me they would bring action against Navient but that the first thing Navient would do is call the loan and to be prepared to write the check.
I wish now that is what I had done - taken away a paying albeit slow paying customer with a 7-3/4% interest rate loan (which seems close to loan sharking in my opinion) and left them with the non paying borrowers. I wrote my Senators and got a letter from both saying and promising nothing and boy did they deliver. Is it any wonder this generation of kids 20 to 35 embrace socialism, I would have if treated this way. I demanded Navient stop calling and said I cosigned so if the child defaults I will write you a check. Not satisfied with that, they set out to trash my credit and honestly, I don't care. An education is more important than my credit score.
I have not asked anyone for credit in over 20 years and have no intention of doing so. That said, I'm talking to an attorney later today to see what legal action may be next for Navient. And by the way, the family member has not worked since February last year and has only enough income to take care of essentials. I read some of Navient's statements about the last Law Suit where they admit nothing, claim they are being picked on and then point to their results being better than others in the industry. So that nothing they admit to gets better results? There were times I got 40 calls in a week. I don't recognize a number I block it. Then another number calls me and another and another. I must have 2 dozen numbers blocked that, when you search them on the net are Navient. There is your nothing, in my estimation anyway, could be wrong I guess.
An attorney told me how to handle it, I did and then asked them 6 times to Stop Calling Me. They did for a couple of months then started calling again. This time their call came a BAD time. We had just had to put our 16 year old dog down. The phone rang and I answered and during that Robocall pause where the computer has to rout the call back to a person (the point I normally hang up) I became furious over the interruption took the call and I UNLOADED ON THEM. I remember the caller telling me I had no reason to be upset and that just made things worse.
I mean I let them have it and called them and their business practices anything but Holy and demanded for the 3rd time that they stop using this system to call me. Guess what, the calls stopped but not long after that, they started banging my credit report. It is my opinion that they believe the end justifies the Means and have a Corporate Policy that steps on if not crosses over the line now then and perhaps lacks a moral compass in some regards. But that's just an old man's opinion. Based on my experience with this organization I'd urge borrowers go elsewhere.
Got a loan to go back to school in 2003, 17 years later the prices are double and I can’t afford to pay it back. So my credit is ruined from this company. Do not recommend them as a lender, too high.
I feel that student service providers although a business can be more understanding that a huge amount of students with huge amounts of loans cannot find a job within their own degrees to justify the cost of their education. They do this because we are all taught only losers don’t go to school, so we try and invest in ourselves and after the dust settles we find that people’s with associates degrees are doing the jobs that use to require bachelors and higher and they are doing it for a much lower salary than ever before. They should be more helpful when it comes to qualifying for salary based repayment.
After hearing several horror stories regarding student loans recently I remembered my own story with Navient. I was lucky enough that my employer would pay up to 30,000 towards student loans during your first 6 years of employment. In order to get the max $5,000 a year the payment had to be at least $417 a month. So I raised my payment to get that max benefit. When the 6 years was up I still owed $16,000 ish in student loans. Well navient refused to come up with an acceptable plan for me. I wanted to pay less than $417 because I lived in Northen VA (one of the most expensive areas in the entire country) and my condo cost more than most people's large homes.
The point being, with my job no longer covering my loans, I still had my mortgage, car payment, and I wanted the payment down to no more than $250 a month. They refused and the best they could come up with was to pay $315 a month for two years but then my payment would go up to over $700 a month. Are they insane? I was willing to pay my loans but people have other living expenses other than their student loans. So I took out a TSP loan and paid them off. I paid that loan off in 4 years and paid myself back. Screw you navient.
I have been paying my student loans for 20 years. My loans have been transferred from servicer to servicer. Navient is the most recent one. These loans have been a major hurdle for any financial savings. Student loans are “bad” debt.
I took out $60,000 in student loans from Navient, have been paying them off over the last eight years and my balance is literally $61,000. I have literally paid almost $30,0000 to Navient. This company treats me like they have never received money from me and continually plays games. Hence they are consistently getting sued, how this company can continue to operate in this manner is alarming. How I have a overall balance higher than what I received in funds initially is interesting.
The company has ridiculous interest rates and thinks that decreasing the monthly payment by only $50 is going to help struggling borrowers. They will not work with you unless you have a job, and their refinance option only applies to people who are employed and make $50,000 or higher. The company expects you to come up with the ridiculous monthly payment by any means necessary and will transfer you to multiple departments where you have to repeat the conversation concerning your loans.
They pretend to work with you and will have you and your cosigner waste your time answering questions about why you can't make payments, will process your application pretending to work with you in a rational manner. Only to reject your decreased loan payments or offer a new monthly amount that is no different than what you are requesting temporary relief from. I would not suggest anyone take out loans with a company that refuses to work with borrowers' employment.
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