Where to find Away in the event the Funds Are Private or Government

To learn Navient’s part in your scholar personal debt cost, you must understand new character away from that loan servicer. Financing repair ‘s the handling and you will asking of that loan. The newest servicer from that loan works together with brand new debtor to establish cost agreements and you will consolidate otherwise re-finance when necessary. The servicer is just one your contact if you have people questions otherwise issues about your loan.

Sallie Mae vs. Navient

Area of the frustration surrounding Navient money comes from Navient’s dating in order to Sallie Mae. When you’re Sallie Mae and you will Navient originated a comparable organization (named Sallie Mae), he is a couple of various other and you can separate enterprises. Thus Sallie Mae finance commonly Navient fund, and you can Navient figuratively speaking aren’t Sallie Mae money.

Sallie Mae College loans

Sallie Mae are a lender having provided and you may maintained funds for more than forty years, in the first place upkeep one another government and personal student education loans. This present year, the brand new guidelines banned the latest maintenance out of federal student loans because of the monetary organizations such as for example Sallie Mae.

Into the 2014, Sallie Mae established it can separate towards one or two in public places-replaced businesses to help you works contained in this the latest laws: Sallie Mae and Navient. Navient today takes care of the newest upkeep out-of federal student education loans, also private student loans, when you are Sallie Mae provides this new individual figuratively speaking once the a loan provider and you will qualities private funds.

Now, Navient and you can Sallie Mae are two really well-known servicers away from private figuratively speaking, and Navient is also perhaps one of the most popular servicers out of federal college loans.

If you are not yes in the event the Navient financing is actually personal otherwise government (or each other), you’ll want to find out one which just determine whether the individuals financing meet the criteria to have Navient student loan forgiveness. In the event the Navient finance is government, they are going to be eligible for all benefits provided by this new U.S. Institution title loans Livingston TN off Training. When they private, they won’t.

National Student loan Analysis Program

Earliest, examine though the Navient money was federal because of the logging towards the Federal Education loan Data System (NSLDS) and pressing “Economic Remark”. You will have to go into their FSA ID otherwise would another type of one to. Just after you are signed with the system, you’ll come across a summary of your federal student education loans, in addition to consolidation funds. People individual college loans you really have removed will not show up on which record. We describe everything to know regarding NSLDS and you may why should you be utilizing they.

Contact your Loan Servicer

Another way to read when your figuratively speaking is personal otherwise federal is through getting in touch with Navient privately. If you aren’t yes regardless if Navient can be your mortgage servicer, discover one information about the newest declaration or of the examining your credit report. You can access the Navient financing recommendations myself by logging towards the your account at the Navient. To prepare an account, needed your own personal defense number and/or membership number toward your loan.

Navient’s site along with allows you to join autopay otherwise generate guidelines repayments, and look to find out if you are entitled to federal installment plans. You will discover contact info to make contact with Navient by the email address or from the phone.