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Navient Student Loan Refinancing Review

NaviRefi is available to Navient customers by invitation only.
March 21, 2019
Loans, Student Loans
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4.0 NerdWallet rating

Navient is a student loan servicer for federal and private student loans. It offers student loan refinancing through its NaviRefi product, which is available to Navient customers by invitation only.

NaviRefi is unique in that it serves only borrowers who have Navient as their loan servicers. At other companies, student loan refinancing options are available to all qualifying borrowers, regardless of loan servicer.

NaviRefi also stands out for its flexible repayment options, such as its interest rate reduction program, for borrowers who experience difficulty making payments.

Navient is facing multiple lawsuits alleging that it harmed borrowers throughout the repayment process. The company has challenged the allegations.

Navient student loan refinancing at a glance:

  • Flexible repayment options.
  • Borrowers don’t need to have graduated to qualify.
  • No option to add a co-signer.
Reviewed loanStudent loan refinancing
Interest ratesFixed: 3.48% - 7.35%
Variable: 2.88% - 7.25%
Loan terms5 to 20 years, in one-year increments
Loan amountsMinimum: $5,001
Maximum: $150,000 for undergraduate and graduate programs, $250,000 for professional degree programs.
Co-signer release availableNo
Can transfer a parent loan to the childNo
Check rates at Navient

How much can refinancing save?

How NaviRefi scores

NerdWallet student loan experts evaluated more than 50 data points across five categories to see whether NaviRefi ranks below average, average or above average compared with other student loan refinance lenders.

Enables faster repayment:
Below average
Lenders score highly if they offer a variety of term lengths and make extra payments easy.

Discloses requirements, limits costs:
Lenders score highly if they limit fees and interest rates, are transparent about their underwriting criteria and allow borrowers to get personalized rate estimates before applying.

Serves range of borrowers:
Below average
Lenders score highly if they cater to customers in varying locations, in different financial situations, and with varying citizenship statuses.

Offers payment flexibility:
Above average
Lenders score highly if they offer longer than 12-month forbearance periods, in-school and military deferment, and any other flexible policies that help borrowers during tough times.

Supports customers:
Below average
Lenders score highly if they assign borrowers an advisor, offer multiple ways to get in touch, and have in-house customer service. Websites should display full APR ranges, fees and forbearance policies.

How NaviRefi could improve

Navient could improve its student loan refinance product by:

  • Allowing borrowers to refinance with a co-signer.
  • Refinancing parent PLUS loans in the child’s name.
  • Letting borrowers make greater-than-minimum payments via autopay.

NaviRefi details

  • Soft credit check to qualify and see what rate you’ll get: No.
  • Application or origination fee: No.
  • Prepayment penalty: No.
  • Late fees: No.

Variable rates are not available in Arkansas, Colorado, Connecticut, Hawaii, Illinois, Massachusetts, Minnesota, Mississippi, New Hampshire, Ohio, Oklahoma, Tennesee, Texas and Virginia.

Compare Navient’s range of interest rates with other student loan refinance lenders.

Check rates at Navient


NaviRefi loans are available by invitation only to Navient customers. Navient considers factors including credit history, employment experience and disposable income.

  • Minimum credit score: Did not disclose.
  • Minimum income: Must be employed or have sufficient income from other sources.
  • Typical credit score of approved borrowers or co-signers: Did not disclose.
  • Typical income of approved borrowers: Did not disclose.
  • Maximum debt-to-income ratio: Did not disclose.
  • Can qualify if you’ve filed for bankruptcy: No.


  • Citizenship: Must be a U.S. citizen or permanent resident.
  • Location: Not available to borrowers in California, Delaware, Florida, Kentucky or Nevada.
  • Must have graduated: No.
  • Must have attended a Title IV-accredited school: Yes.
  • Percentage of borrowers who have a co-signer: 0% — no co-signer option.

  • Academic deferment: Yes, borrowers can postpone payments if they return to school at least half-time or are doing an internship, residency or fellowship.
  • Military deferment: Yes, borrowers can postpone payments if they’re serving in the military.
  • Forbearance: Yes, in three-month increments, for up to 12 months total.
  • Rate reduction program: Borrowers who experience difficulty making full payments may qualify to have a reduced interest rate — and thus, a reduced monthly payment — for six months.
  • Are loans discharged in the event of death/disability of borrower? Yes.
  • Allows greater-than-minimum payments via autopay: No.
  • Allows biweekly payments via autopay: No.

  • Loan servicer: Navient.
  • In-house customer service team: Yes.
  • Process for escalating concerns: Yes.
  • Borrowers get assigned a dedicated banker, advisor or representative: No, but they get assigned to an individual team.

How to refinance with Navient

Before deciding on a student loan refinance lender, compare multiple student loan refinance options to make sure you’re getting the best rate you qualify for. In addition to interest rates, compare lenders’ repayment options and the flexibility they offer for borrowers who are struggling to make payments.

If you’re ready to borrow, you can apply on the NaviRefi website.

Check rates at Navient


NerdWallet believes the best student loan is one you can repay at the lowest interest rate you can get. That’s why NerdWallet’s student loan ratings reward lenders that offer a variety of loan terms, limit their fees and penalties, and extend borrowers multiple options to avoid default. Points are also awarded for soft credit checks, underwriting transparency and other consumer-friendly features. Use these ratings as a guide, but we encourage you to shop around for the lowest interest rate you can qualify for. NerdWallet does not receive compensation for its reviews. Read our editorial guidelines.

5 stars out of 5 — Among the very best for consumer-friendly features

4.5 stars out of 5 — Excellent; offers most consumer-friendly features

4 stars out of 5 — Very good; offers many consumer-friendly features

3.5 stars out of 5 — Good; may not offer something important to you

3 stars out of 5 — Fair; missing important consumer-friendly features

2.5 stars out of 5 — Poor; proceed with great caution

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