Knowing Navient’s role on your own pupil loans installment, you need to understand brand new part of that loan servicer. Mortgage maintenance ‘s the dealing with and you can recharging out-of a loan. This new servicer out-of a loan works together the new debtor to ascertain cost plans and you may combine otherwise refinance when needed. Your servicer is certainly one you get in touch with if you have one questions otherwise issues about your loan.

• When you yourself have federal college loans, the servicer is chosen because of the U.S. Service from Degree, who’s the financial.
• When you have individual student education loans, the loan servicer is selected by personal lending institution your favor, who is your lender. Particular financing organizations act as their financing servicers.
• For those who lent that loan from your own college, college or university, otherwise elite school, the newest educational funding office determines the fresh new servicer on your own mortgage.

Sallie Mae versus. Navient

A portion of the misunderstandings surrounding Navient fund arises from Navient’s dating so you’re able to Sallie Mae. While Sallie Mae and you may Navient originated in a similar company (entitled Sallie Mae), they are two various other and independent firms. This means that Sallie Mae funds are not Navient financing, and you will Navient figuratively speaking aren’t Sallie Mae loans.

Sallie Mae Student education loans

Sallie Mae is actually a lending institution having considering and you may serviced money for more than forty years, to begin with upkeep one another government and personal student education loans. This current year, new statutes banned the fresh maintenance out-of federal college loans by monetary establishments instance Sallie Mae.

When you look at the 2014, Sallie Mae revealed it could independent to your a couple of publicly-traded people so you can work within the newest rules: Sallie Mae and you may Navient. Navient now handles the fresh new servicing away from government figuratively speaking, including private student education loans, while Sallie Mae will bring the fresh private figuratively speaking since the a loan provider and you may properties individual fund.

Now, Navient and you will Sallie Mae are two of the very most popular servicers regarding private figuratively speaking, and you may Navient is also probably one of the most well-known servicers from federal college loans.

If you are not sure if the Navient funds is actually private otherwise government (otherwise each other), you’ll want to understand before you can see whether those individuals funds qualify to have Navient student loan forgiveness. If your Navient money is government, they are going to qualify for every pros provided by the U.S. Department from Studies. When they personal, they won’t.

National Student loan Investigation System

Very first, evaluate regardless if your Navient fund is government of the logging towards the National Student loan Studies System paydayloansindiana.org/cities/greensburg/ (NSLDS) and you will clicking “Financial Review”. You will need to enter their FSA ID otherwise carry out another type of one. Once you happen to be logged into system, you can find a listing of all your government figuratively speaking, plus integration finance. One individual student education loans you really have applied for will not appear on it record. I define everything to know regarding NSLDS and why you need to use it.

Contact your Mortgage Servicer

A different way to find out if the student loans are private otherwise government is by contacting Navient physically. If you aren’t sure though Navient is the loan servicer, you’ll find one information on the most recent statement otherwise of the examining your credit score. You can access your Navient loan information personally from the logging on the your bank account at Navient. To arrange an account, you want their personal coverage matter and/or account matter to the your loan.

Navient’s web site and additionally allows you to subscribe autopay or make guide money, and look to see if you might be eligible for government installment plans. You will additionally discover contact information to get hold of Navient from the email address otherwise of the cell phone.