Navient has been running for over 45 years, and during that time, has serviced more than $300 billion in student loans, and has given financial aid to over 10 million students and graduates in that time.
Why get a student loan from Navient?
Navient has financed so many students over the years that it must be doing something right! What makes them different is that rather than provide you with a loan itself, it acts as a sort of broker, putting you in contact with its many subsidiaries, so you have a wide range of options from which to choose the perfect loan for your situation.
What student loans does Navient offer?
It doesn’t support student loan refinancing, but it does allow you to take out private student loans. Because these come from a variety of lenders, the eligibility requirements, interest rates, terms, and options vary.
Student loan refinancing information
Unfortunately, there’s no option to refinance a loan with Navient, so if you already have an outstanding student loan from elsewhere, you’ll need to pursue another financier.
Private student loans
Due to the changing circumstances, there’s no one range of APRs or terms. You can take out variable or fixed-rate loans and many come with options for loan deferral, meaning that you can forgo payment for a certain length of time, which is perfect for if you’re suffering from a period of financial hardship.
More about rates and fees of Navient’s loan options
While it’s difficult to know for certain what kind of loan you’ll be offered without applying and undergoing a soft credit check, you can get some of the basic details. These are as follows:
Fixed rates from:
|Variable rates from:||2.75%|
|Application fee:||Dependent on provider|
|Origination fee:||Dependent on provider|
|Disbursement fee:||Dependent on provider|
|Late fee:||Dependent on provider|
|Returned payment fee:||Dependent on provider|
|Prepayment penalty:||Dependent on provider|