As long as you have some student loans, you will always be interested in getting out of the debt faster or reducing your monthly payments one way or another. Student loan debt can trouble your financial growth, and it can cause a significant amount of stress. If you have loans that are being serviced currently by the company Navient, you should know that Navient loans can be forgiven.
If you come across any unfortunate events such as Total and Permanent Disability, loss of life, or other unavoidable situations, your Navient Loan may be eligible for forgiveness. While this is probably true, Navient student loan forgiveness is a bit complex than one may presume it to be.
There is per se no such thing as the "Navient loan forgiveness" since Navient Corporation only acts as a loan servicer for federal and private loans. In its place, your Navient loan may qualify for loan forgiveness with the federal loan forgiveness programs or other forgiveness programs under eligible private loans.
List of Contents
- Forgiveness for Federal Student Loans
- Navient Federal Student Loan Forgiveness Programs
- How to Apply for Navient Student Loan Forgiveness?
- Navient Private Student Loans Forgiveness Options
- How to Find Out if Your Loans Are Private or Federal?
- What Does the Navient Lawsuit Mean for You?
- How to protect yourself?
Forgiveness for Federal Student Loans
Student loan forgiveness comes in a variety of forms, but the most common is the forgiveness of loans which are repaid under the Income-Driven Repayment or IDR for short. With respect to your income you may or may not qualify for IDR, which will probably end with your loan debt being forgiven at the end of a 20-25 year repayment term if there is any amount of the loan left.
In case you are working in certain fields, such as education or social work, you might qualify for loan forgiveness at a much earlier time period of 10 years.
These forgiveness programs are available for the following federal student loans only.
Direct Stafford Subsidized / Unsubsidized
Direct Subsidized / Unsubsidized
Direct Consolidated Loans
FFELP Loans (issued before discontinuation in 2010)
You might be able to negotiate a lower monthly payment on your private student loans or even qualify for a private loan assistance program that can help you pay off some or all of your student loan debt. But, Navient Student Loan Forgiveness for private student loans is limited to a few programs only.
Navient Federal Student Loan Forgiveness Programs
Navient provides a number of federal student loan forgiveness programs. Depending on your career, your income and other factors, you might become eligible for either of the following -
1. Public Service Loan Forgiveness (PSLF)
Borrowers working full-time in public organizations like government agencies or certain non-profit organizations may qualify to get their loans forgiven under the PSLF program. After making 120 qualifying monthly payments, which is 10 years, any remaining balance on your loans will be forgiven, which is not taxable. The borrower will also have to be enrolled in an income-driven repayment plan to qualify for this program.
The borrower must be working in a federal, state or local government agency and certain eligible not-for-profit organizations
You must be a full-time employee or working for at least 30 hours per week
The borrower has to make 120 qualifying payments not more than 15 days after the due date under an income-driven repayment plan
2. Total and Permanent Disability (TPD) Discharge
This is a form of loan forgiveness or discharge which is made available for those borrowers who are unable to make their student loan payments due to total and permanent disability. If eligible, you would not need to make any further payments on the loans and the remaining balance will be forgiven. You must provide proof of your disability to the US Department of Education.
The following are the ways in which you can provide as proof.
If you are a veteran, documents which you can get from the Department of Veterans Affairs that shows you are unemployable due to a service-connected disability, have to be submitted
Show that you are receiving Social Security Disability Insurance (SSDI) or Supplemental Security Income (SSI) benefits
Your physician can prove that you are totally and permanently disabled
With every option, there are certain requirements for the supporting documents that you need to submit along with your TPD discharge application.
3. Teacher Loan Forgiveness Program
You can qualify for a Teacher Loan Forgiveness Program if you teach full-time for five successive and complete academic years in a low-income elementary or secondary school or educational service agency. You can get up to $5000 of your loans forgiven or $17500, in case you are a highly qualified teacher.
You should not have any remaining balance on your Direct or FFEL loans as of Oct 1, 1998, or after Oct 1, 1998, on the date you got the Direct or FFEL loan
You are a full-time teacher or highly qualified teacher for five successive and complete academic years and at least one of those years should be after the 1997-98 academic year
You should be teaching in an elementary, secondary school or educational service agency in which students come from low-income families are studying
The loans that you want to seek forgiveness should be made before the end of your five years of qualifying teaching service
Requirements to become a highly qualified teacher
You should have at least a bachelor’s degree
You received full state certification as a teacher
Your certification or licensure requirements have not been disregarded on an emergency, temporary, or provisional basis
4. Other student loan discharge programs
Navient also provides other discharges for borrowers who are facing certain situations.
School closure discharge- You can be eligible for this discharge if your school shuts down before you finish your education.
False certification discharge- You can be eligible for this discharge if your school falsely certified your eligibility for a student loan or your identity has been stolen and used by someone else to get a loan.
Unpaid refund discharge- You can be eligible for this discharge if you are supposed to receive a refund of your federal student loan because you stopped attending school, withdrew from the school or was terminated by the school, and the school failed to return the loan funds to the lender.
5. Income-Driven repayment (IDR)
There are four plans under the Income-Driven Repayment Plan- REPAYE, PAYE, Income-Based Repayment Plan, and Income-Contingent Repayment Plan.
This plan is designed to allow you to repay your loans at a much lower monthly payment for a longer term usually anywhere between 20-25 years. At the end of this term, if you have made all of the payments on time and in full without any deferment or defaulting on the loan, you can have the rest of your loan balance forgiven. This is usually for those that are seeking payment relief.
How to Apply for Navient Student Loan Forgiveness?
When you open the loan forgiveness program page on the Navient website, there are different loan forgiveness plans and in each, there is an option for you to select in order to apply for them.
1. To apply for the Public Service Loan Forgiveness (PSLF) program, you have to select the option which is given below the information on PSLF on the Navient website. This will direct you to the federal government’s website where you have to log in to use the PSLF Help tool. This tool will help you through the application process in which a form will be generated to be signed by you and your employer. This form will be reviewed which will tell them if you qualify for this program or not. Along with the form, you should also provide the documents as proof like your recent W-2 form, detailed information about your employment, etc.
2. To apply for the Total and Permanent Disability (TPD) Discharge, you have to select the option which is given below the information on PSLF on the Navient website. This will direct you to the disability discharge website of the federal government.
You can request for a TPD discharge application form either online, download it, or by email or phone. This form has to be completed along with supporting documents to show that you are disabled. You also have the option of having your physician complete section 4 of your application as proof of disability.
After all of this is done, send the application form along with the documents, if required to them.
3. To apply for the Teacher Loan Forgiveness Program, you have to log in directly to your Navient account and apply online directly with them.
4. If you want to go for the income-driven repayment (IDR) plan to get the benefit of loan forgiveness after the loan term, you can enroll for it by logging into account in the federal government’s website. You need to get an IDR application which you have to complete and submit. It takes about 10 minutes to complete the whole application process, which you can do online.
Navient Private Student Loans Forgiveness Options
Although private Navient Student loans are not always eligible for loan forgiveness, there are a few private student loan forgiveness options. This also includes private loan assistance programs, such as the ones that are offered to the health care providers by the National Health Service Corps, as well as refinancing and negotiating Lower monthly payments.
Loan forgiveness programs from private lenders differ widely in terms. It is advisable to be well informed and check with your lender for any forgiveness programs before you sign for your loan.
Many of the loan servicers, which also include Navient would rather look to find a repayment plan for you than to see you default on your loans if you are not able to make payments.
How to Find Out if Your Loans Are Private or Federal?
If your Navient loans are federal, they will qualify for most of the benefits that are offered by the U.S. Department of Education, while private loans won’t qualify for much.
You can go through the following steps for confirmation.
1. National Student Loan Data System- First, to check whether or not your Navient loans are federal or private you need to login to the National Student Loan Data System (NSLDS) and clicking "Financial Review". You will need to enter your FSA ID or create a new one. Once you are logged into the system you will be able to see a list of all of your federal student loans, including consolidation loans. Any private student loans you may have taken out will not appear on this list.
2. Contact your loan servicer- Another way to understand whether your student loans are private or federal is by getting in contact with Navient directly. You will be able to access all your Navient loan info directly by logging into your account at their website Navient.com. To set up an account, you will need your social security number or the account number that is associated with your loan. You will also be able to contact them via mail or phone with the info that is given on the site.
What Does the Navient Lawsuit Mean for You?
A bit of Legal controversy on a major scale and an investigation involving Navient was started in the month of August of 2015 when the Consumer Financial Protection Bureau (CFPB) had gathered significant evidence that indicated the company was violating the consumer protection laws.
Finally, as of May of 2018, Navient Corporation faced 4 lawsuits, each of which alleged that Navient had done harm to the student loan borrowers throughout the repayment process. These lawsuits might take many years to come to an end, but most Navient student loan borrowers are rightly worried about how these pending legal actions might end up affecting them.
While the CFPB is asking or more appropriately demanding compensation in the favor of the Navient Borrowers who were allegedly harmed, it is not exactly known when the borrowers will receive any such compensation. The Navient lawsuits have yet to have any concrete rulings to conclude this, although the rumors of Navient student loan forgiveness, discharge or disqualification related to the lawsuits are unproven.
How to protect yourself?
If Navient is your loan servicer regardless of whether your loans are private or federal, and you are worried about your status as the borrower of the loan, the following are the steps that you can take to protect yourself.
1. Change your loan servicer- If you want to change your loan servicer, it is always possible and sometimes might even be the best of all the available options. The way to go about this is by refinancing your loans in case of private loans or consolidating them in case of federal loans.
With the methods mentioned above, you are able to combine your loans together and get a better loan through a different provider with a lower interest rate, meaning making a lesser amount of the monthly payments at the cost of having a longer payment term.
But, if you do choose this option make sure to take note of the potential pros and cons of this process involving the refinancing/consolidation of your loans, and make the decision on whether or not it might be the right choice for you. Doing so for the sake of changing your loan servicer might not be the wisest of choices one can make.
2. Voicing your concerns- You can voice your concerns about your Navient serviced student loans for the purpose of closely monitoring your credit report and your student loan repayment process for any sort of errors. In case you notice something not being right or something that is out of place, you should bring it to their notice as soon as possible, and ask questions in the instance that you are unsure of what you are looking at.
You should file a student loan complaint by submitting a complaint directly to Navient, and if they don’t respond to you, submit your complaint to the Consumer Financial Protection Bureau (CFPB) or the US Department of Education.
How do I contact Navient?
You can call Navient at 888-272-5543 which is their toll-free contact number.
Although, there are 9 different ways for you to get in touch with Navient the next best one that we'd suggest you try is by contacting their customer support team which according to Navient customers is by calling the number that is 877-770-4157 for their customer service department.
Can my Navient loans be forgiven?
If you do have any Navient federal loans and you want to get out of debt faster or have your monthly payments reduced then you might check if you qualify for any federal loan repayment or forgiveness programs.
Does Navient refinance student loans?
While most borrowers choose to stay with Navient until they repay their loans completely, others decide to consolidate their student loans that Navient is servicing or have a look at the options for Navient Student loan refinance. Consolidation and refinancing work differently, but both can sometimes help to make the trouble of student debt paying much easier.
Will Navient settle student loans?
There are options to settle a loan with Navient. Although Navient has a wage garnishment, the settlement is a less likely chance of being there. This is since Navient will continue to be paid as long as you stay at your job. Depending on the situation you may be able to save only about 20-50% of the balance that you owe on your student loans that is serviced by Navient.
Are my Navient loans Federal Or Private?
This is a bit of a difficult question to answer, could be either one of them or both. You could have federal student loans with Navient as your servicer and you might also have Private loans with Navient as your servicer.
What is a Loan Servicer?
Loan servicing is the handling and billing of the loan.
The servicer of the loan works with the borrower to make a route of repayments or when you are considering consolidation or refinancing a student loan when you need it. Your servicer becomes your point of contact for any questions or concerns that you might have about the same.
How do I file a complaint with Navient?
You can go to their website and select the "Contact Us" option where you choose which category you want to complain about. Each category has their own contact information.
Do I qualify for the Navient lawsuit?
Because of the Navient Lawsuit, the CFPB is demanding for compensation to be given to those borrowers who are affected by it but it is not known exactly when they will be getting it.
Do student loans get forgiven after 25 years?
If you are on the Income-driven repayment plan and have made qualified timely payments every month, then you can qualify for loan forgiveness after 20-25 years.
Can Navient garnish your wages?
Yes, Navient can garnish your wages if your loans go inti default and you are not doing anything about it.