Things NavientStudent Loan Borrowers Need to Know
This is a method in which the students pay their loans. One out four students is paying their loans through Navient. The students using this mode of payment should know the following. The CFPB has filed a lawsuit against the Navient in 2017. The case filed against the Navient is that they have failed its clients. The attorney generals in the states of Illinois and Washington has filed cases against the Navient as well complaining in the way that they handle their clients. The customers of Navient wanted some answers that could only be answered by Navient even though they did not accept the claims made against them that they were mishandling its clients. For the student to be able to check whether Navient is the student loan servicer check with the Federal Student Aid website. Check from the Student Aid Website for any inaccurate information concerning your loan. Check whether you have been reported as a defaulter. Student borrowers receive their loan relief from the U.S government. If such an error occurs it can substantially damage your credit score, so it is wise that you get your yearly credit report, and countercheck that all your listed information is correct.
The cross checking of the details will help you to report any irregularities in your account. They are going to give you the most required help. Some of the organizations’ that can be able to help you with your case are the Navient, the CFPB and also the U.S Department. you don’t have to limit yourself in just filing your case in only one place you can file in all the three agencies. There is the policy of student loan forgiveness where the federal government cancels all or part of the educational loan but under certain circumstances or conditions. There is certain criterion that is set for you to be forgiven. The student might be asked to work in the military by doing some voluntary work, he can teach or practice medicine in a chosen community but this will all depend on the qualification. Students can achieve their goals. Students can pay their loan in smaller installments.
Be informed as a student about your loan. As a student you have many options on how you can repay your loan, it can either be income based, revised pay as you earn, pay as you earn and income-contingent repayment. More than one way can be applied by the students to pay their loans but there is a need for the student to have an understanding about all of them before they choose the ones to use to repay the loans.