NaviRefi Review: Navient Student Loan Refinancing

NaviRefi is available to Navient customers by invitation only.

Ryan LaneMar 18, 2021
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Our Take


NerdWallet rating 

The bottom line: Best for borrowers whose loans are already serviced by Navient.

Navient Student Loan Refinance

Navient Student Loan Refinance

Fixed APR

2.49 - 5.50%

Variable APR

1.78 - 4.64%

Min. Credit Score


Pros & Cons


  • More flexible repayment options for struggling borrowers than other lenders.

  • No late fees.

  • You can refinance without a degree.


  • You can't see if you’ll qualify and what rate you’ll get without a hard credit check.

  • No option to make greater-than-minimum payments via autopay.

Compare to Other Lenders

CommonBond Student Loan Refinance
SoFi Student Loan Refinance
NerdWallet rating 
NerdWallet rating 
Check RateCheck Rate
Fixed APR

2.98 - 5.79%

Fixed APR

2.74 - 6.74%

Variable APR

1.99 - 5.61%

Variable APR

2.25 - 6.39%

Min. Credit Score


Min. Credit Score

Does not disclose

Full Review

Navient is a servicer for federal and private student loans that was once part of Sallie Mae. Navient offers refinanced student loans originated by the online lender Earnest, branded as NaviRefi.

NaviRefi is unique in that it's only available to borrowers with loans serviced by Navient, though you can also refinance student loans that aren't held by Navient if you qualify. You must receive an invitation code to refinance with NaviRefi.

Even if Navient is your servicer, you may be able to refinance with many different lenders. NaviRefi is a good option if you like your existing benefits — Navient offers multiple options for borrowers who can't afford payments, for example — and NaviRefi offers you the best interest rate.

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.

  • No option to apply with a co-signer.

How NaviRefi could improve

NaviRefi could improve its student loan refinance product by:

  • Conducting soft credit checks to give personalized rate estimates.

  • Allowing greater-than-minimum payments via auto-pay.

  • Letting borrowers refinance their parents' PLUS loans in their own name.

How much can refinancing save?

NaviRefi student loan refinancing details

  • Soft credit check to qualify and see what rate you’ll get: No.

  • Loan terms: 5 to 20 years, in one-year increments.

  • Loan amounts: $5,001 to $150,000 (for undergraduate and graduate programs) or $250,000 (for professional degree programs).

  • Can transfer a parent loan to a child: No.

  • Application or origination fee: No.

  • Prepayment penalty: No.

  • Late fees: No.

Compare NaviRefi’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 NaviRefi will offer you, apply on its website.


  • Minimum credit score: 680.

  • Minimum income: Does not disclose.

  • Typical credit score of approved borrowers or co-signers: 700+.

  • Typical income of approved borrowers: $100,000+.

  • Maximum debt-to-income ratio: Does not disclose.

  • Can qualify if you’ve filed for bankruptcy: Yes, after at least seven years have passed.


  • Citizenship: Must be a U.S. citizen or permanent resident.

  • Location: Loans not available in Nevada.

  • Must have graduated: No.

  • Must have attended a school authorized to receive federal aid: Yes.

  • Percentage of borrowers who have a co-signer: No option to apply with a co-signer.

Many lenders are offering relief related to COVID-19. Check this list of private loan relief options to see what this lender offers.

  • Academic deferment: Yes.

  • Military deferment: Yes.

  • Internship, residency or fellowship program deferment: You may be able to pause payments during a qualifying internship, residency or fellowship.

  • Forbearance: Yes, in three-month increments, for up to 12 months total.

  • Rate reduction program: Borrowers who experience difficulty making full payments may qualify for a reduced interest rate for six months.

  • Term and rate reduction program: Borrowers may also qualify for a reduced interest rate and extended repayment term to reduce payments.

  • Co-signer release available: N/A.

  • Death or disability discharge: Yes.

  • Loan discharge if co-signer dies or becomes disabled: N/A.

Repayment Preferences

  • 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.

  • Average time from approval to payoff: 7 business days.

Before refinancing with NaviRefi

If you're invited to refinance with NaviRefi, you can apply on its website. 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 borrowers who are struggling to make payments.

If you aren’t eligible to refinance with NaviRefi

If NaviRefi denies your refinance application, the lender will let you know why. Depending on the reason, you may want to consider other lenders, including those that allow a co-signer.

NerdWallet recommends prequalifying with multiple refinance lenders before you apply. This will let you know which lenders you may be eligible with, without affecting your credit.


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.

Frequently asked questions