Will Navient settle federal student loans?

Navient does settle private student loans, but not the federal loans it services. To settle federal student loans, you’ll have to contact the loan holder, which, depending on whether the loan is an FFEL or Direct Loan, could be a guarantee agency or the Department of Education.

What type of loan is Navient?

It still services private student loans and provides private student loan refinancing. The best way to determine if you have federal or private students loans is to check studentaid.gov.

What happened to my Navient student loans?

Navient will no longer service your student loans If the U.S. Department of Education approves this contract novation, then Navient will no longer be your student loan servicer. This means that, subject to approval, you will no longer make student loan payments to Navient to pay off your student loans.

Is Navient still servicing private student loans?

If you have loans serviced by Navient Navient announced its intent to leave the student loan servicing business in late September. Navient will be moving its approximately 5.6 million borrowers over to Maximus.

What kind of student loan is Navient?

Navient services federal and private student loans and provides private student loan refinancing. The best way to determine if you have federal or private students loans is to check studentaid.gov.

Who does Navient sell their loans to?

Maximus Education
Who is Aidvantage? Aidvantage (the federal loan servicing unit of Maximus Education, LLC) has one mission – to help you manage the repayment of your federal student loan and support your financial success. Navient is transferring its Department of Education servicing to Maximus Education (Aidvantage).

Should you refinance your Navient student loans?

Navient only handles private loans and federal loan servicing. They do not refinance any existing student loans. Even though Navient refuses to refinance student loans, many other companies do offer this service. Further, Navient cannot prevent you from refinancing your student loans elsewhere.

Does Navient handle your student loans?

Navient is the largest student loan servicer in the nation. As a federal loan servicer, Navient is responsible for managing federal student loan accounts, processing monthly loan payments, and communicating with borrowers . Navient was formerly part of Sallie Mae.

Is Navient a federal student loan?

Navient is a federal student loan servicer for loans owned by the U.S. Department of Education and guaranty agencies like Ascendium. It also services private student loans made by various lenders.

What is this Navient lawsuit means for your student loans?

What the lawsuit against Navient means for your student loans . The suit alleges the company “harmed countless student loan borrowers” by “peddling risky and expensive subprime loans that they knew or should have known were likely to default.”.