To learn Navient’s part on your own scholar loans repayment, you need to understand the latest part away from a loan servicer. Financing upkeep ‘s the addressing and you may charging you from financing. The fresh new servicer off that loan works closely with the newest debtor to establish installment plans and you may consolidate otherwise refinance when needed. Your own servicer is certainly one your get in touch with for those who have one inquiries otherwise issues about your loan.

• For those who have government figuratively speaking, the servicer is selected by U.S. Agency out-of Training, who is your lender.

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• If you have individual college loans, the loan servicer is selected by private financial institution your prefer, that is your own financial. Specific credit institutions try to be their own mortgage servicers.
• For those who borrowed a loan out of your university, school, or professional school, the fresh school funding work environment determines the brand new servicer on the mortgage.

Sallie Mae compared to. Navient

Area of the distress nearby Navient fund is inspired by Navient’s matchmaking in order to Sallie Mae. When you’re Sallie Mae and Navient originated from an identical providers (titled Sallie Mae), they are one or two different and you will independent companies. This is why Sallie Mae funds commonly Navient finance, and Navient college loans are not Sallie Mae loans.

Sallie Mae College loans

Sallie Mae try a loan company that has considering and you will serviced funds for more than 40 years, originally maintenance one another federal and personal student loans. This season, the brand new guidelines prohibited the latest maintenance out of government student loans by economic organizations like Sallie Mae.

For the 2014, Sallie Mae revealed it would separate towards the several in public areas-exchanged businesses to performs inside the new laws and regulations: Sallie Mae and you may Navient. Navient today handles this new repair of government college loans, including personal college loans, while you are Sallie Mae provides the fresh personal student loans since the a loan provider and services personal financing.

Now, Navient and you may Sallie Mae are a couple of of the most extremely well-known servicers out-of personal college loans, and you can Navient is also one of the most prominent servicers of government student education loans.

If you are not sure if the Navient money are private or government (otherwise both), you will have to see before you can see whether people loans meet the criteria to have Navient student loan forgiveness. In case the Navient fund was government, might be eligible for all masters offered by the newest You.S. Agencies regarding Degree. When they personal, they don’t.

National Education loan Investigation System

First, glance at even when the Navient loans is federal of the logging toward National Education loan Investigation Program (NSLDS) and you can clicking “Financial Comment”. You will have to get into their FSA ID or manage a unique that. Shortly after you are logged into program, you are able to select a listing of any government student education loans, and additionally consolidation finance. People individual student loans you may have removed does not appear on so it list. We determine everything to know about the NSLDS and you can why you ought to be utilizing it.

Speak to your Mortgage Servicer

Another way to learn whether your student loans are individual otherwise government is via contacting Navient physically. If you are not sure even when Navient will be your mortgage servicer, discover one information about the current statement or from the checking your credit score. You have access to their Navient financing guidance physically of the logging with the your bank account within Navient. To set up a free account, you will want their social shelter amount or perhaps the account count towards the your loan.

Navient’s web site together with allows you to enroll in autopay or build instructions payments, and check to see if you will be qualified to receive government repayment arrangements. You’ll also come across contact info to get hold of Navient because of the email address or of the mobile.