Things NavientStudent Loan Borrowers Need to Know
This is a method in which the students pay their loans. The method is being used by at least one out of every four students. The students using this mode of payment should know the following. Navient was involved in a low suite in 2017. Navient has failed its clients, and that’s why the CFPB has filed a case against it. A lawsuit was also filed against the Navient by both the Illinois and the Washington States Attorney Generals. Navient responded by refusing the charges, but many of its customers are demanding for answers, and they have the right to be answered. The students can get more information about their loan servicing from the Student Aid Servicing. Check from the Student Aid Website for any inaccurate information concerning your loan. The student Aid website will show you whether you have been listed as a loan defaulter. The U.S government gives the students the loans. Confirm to see if your account is ok and if all your details are well listed because any omissions can damage your account and damage your credit score.
After doing your counterchecks, you can file complain if all the information is not correct, to the Navient and also the government agencies. They will help you in sorting out your account or in sorting out any problem that might have occurred in your account. 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. Students can work as volunteers in military organizations and also as medical practitioners in very selected communities. This ensures that the students achieve the main goal which is achieving their educational objectives. The students can also be allowed to pay their monthly loan to install in lower installment as a benefit of the Loan forgiveness program.
When you have this knowledge you are prepared on what you want to expect from the loan servicers. Students can pay their loan as an income-contingent, Revised pay as you earn or the income-based method. You can use more than one program to repay your student loan but before you decide which ones you need to understand all of them.