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Navient Student Loans

If we talk about education, cost is something that we have to think. When we decide to take program in a University, of course the cost will be our consideration. But now, you do not need to be worried because there are a lot of financial companies which offer loans for students and one of them is Navient.

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Navient is a company which offers asset management and business processing solutions to education, healthcare, and government clients at the federal, state and local levels. They enhance financial success for their clients and their customers via innovation, compassion, insight, personalization, and an unwavering focus on integrity and compliance.


For education, they offer two products including Federal Student Loans and Private Student Loans. Federal Student Loans are loans which are made through the William D. Ford Federal Direct Loan Program. Besides, it is also made via the Federal Family Education Loan Program. To help their customers successfully to repay their education loans and build their credit, their federal loan servicing goes beyond day-to-day account support. They also offer holistic financial capability resources like their interactive Path to success videos and their Career Palybook Youtube series. There are three plans which are generally available to borrowers of Direct and FFELP Loans including Standard, Extended and Graduated. What are the difference among those plans?

  • Standard Repayment Plans. It plans last up to 10 years or up to 30 years for Consolidation Loans. With this plan, there will be fixed monthly payment amounts with a minimum amount of $50 per month. Monthly payment will be based on your total loan amount. Besides, you will pay less interest over time under this plan than under other plans.
  • Graduated Repayment Plan. It offers lower payments that step up to a fully amortizing payment. This plan is lower at first and then increase, usually every two years and is set at an amount to ensure your loans are repaid within the remaining terms. The repayment term us generally up to 10 years and it can also up to 30 years for Consolidation Loans.
  • Extended Repayment Plan. This plan offers up to 25 years to repay your loans and it is available for most borrowers with more than $30,000 in Direct Loan balances or $30,000 in FFELP loan balances. This plan can be combined with either a Standard or Graduated Repayment Plan.

How about Private Student Loans? These loans are made by credit unions, banks, or finance companies particularly to students who need to borrow more than the federal loan limits permit. It is different from federal student loans. Private Student loan eligibility requirements, terms, interest rates and options vary by loan program, lender, and promissory note. For repayment plan, there is Standard Level Repayment. It is the repayment schedule assigned in your promissory note especially a level monthly payment amount of principal and interest, for the contractual repayment term. It is usually the lowest cost way to repay your loans. In Private Students Loans, there are Interest Only Plans, Rate Reduction Program, Extended Repayment and Term and Rate Modification Program. If you face difficulty in deciding the most suitable loan for you, you are able to contact them at 866-346-2622 and they will help you select the right program for your situation.

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