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Navient Student Loan Refinancing Review

NaviRefi is available to Navient customers by invitation only.
Aug. 28, 2019
Loans, Student Loans
navient-student-loan-refinancing-review
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NerdWallet rating: Not rated

Bottom line: An option for borrowers whose loans are serviced by Navient.

Navirefi
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 availableContact lender for details
Can transfer a parent loan to the childContact lender for details
See my rates on NerdWallet's secure website

Full Review

Navient is a servicer for federal and private student loans that was once part of Sallie Mae. Navient offers student loan refinancing through its NaviRefi product, which is available to Navient customers by invitation only.

» MORE: Can you refinance Sallie Mae student loans?

NaviRefi is unique in that it serves only borrowers who have Navient as their loan servicers. NerdWallet does not have enough information about NaviRefi to rate it or compare it with other lenders.

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

  • Loans are available to existing Navient customers by invitation only.
  • Borrowers struggling to afford payments have flexible repayment options.
  • Borrowers don’t need to have graduated to qualify.

How NaviRefi could improve

NerdWallet does not have enough information from Navient to fully evaluate its student loan refinance product.

How much can refinancing save?

NaviRefi student loan refinancing details

  • Soft credit check to qualify and see what rate you’ll get: Information unavailable. Contact lender for details.
  • Loan terms: 5 to 20 years, in one-year increments.
  • Loan amounts: $5,001 up to $250,000, depending on the highest degree earned.
  • Can transfer a parent loan to the child: Information unavailable. Contact lender for details.
  • Application or origination fee: No.
  • Prepayment penalty: No.
  • Late fees: Information unavailable. Contact lender for details.

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

Compare Navient’s range of interest rates with other student loan refinance lenders. Your actual rate will depend on factors including your — or your co-signer’s — credit history and financial situation. To see what rate iHelp will offer you, apply on its website.

See my rates on NerdWallet's secure website

Financial

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

  • Minimum credit score: Information unavailable. Contact lender for details.
  • Minimum income: Must be employed or have sufficient income from other sources.
  • Typical credit score of approved borrowers or co-signers: Information unavailable. Contact lender for details.
  • Typical income of approved borrowers: Information unavailable. Contact lender for details.
  • Maximum debt-to-income ratio: Information unavailable. Contact lender for details.
  • Can qualify if you’ve filed for bankruptcy: Information unavailable. Contact lender for details.

Other

  • Citizenship: Must be a U.S. citizen or permanent resident.
  • Location: Not available to borrowers in California or Nevada.
  • Must have graduated: No.
  • Must have attended a school authorized to receive federal aid: Yes.
  • Percentage of borrowers who have a co-signer: Information unavailable. Contact lender for details.

  • 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.
  • Co-signer release available: Information unavailable. Contact lender for details.
  • 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.
  • Term and rate reduction program: A variation of the rate reduction program in which the interest rate is reduced and the repayment term is extended, furthering reducing payments.
  • Death or disability discharge available: Yes.

Repayment preferences

  • Allows greater-than-minimum payments via autopay: Information unavailable. Contact lender for details.
  • Allows biweekly payments via autopay: Information unavailable. Contact lender for details.

  • Loan servicer: Navient.
  • In-house customer service team: Yes.
  • Process for escalating concerns: Information unavailable. Contact lender for details.
  • Borrowers get assigned a dedicated banker, advisor or representative: Information unavailable. Contact lender for details.
  • Average time from approval to payoff: Information unavailable. Contact lender for details.

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.

See my rates on NerdWallet's secure website

STUDENT LOANS RATINGS METHODOLOGY

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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