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NaviRefi Review
Reviews 11
NaviRefi
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NaviRefi
NaviRefi
Poor
Reviews 11
Patrick Sather
Jan. 29, 2023
2 min read
Patrick Sather
NaviRefi summary
For over four decades, NaviRefi has helped borrowers refinance their federal and private student loans. NaviRefi offers customizable terms from 5 to 20 years. With its 0.25% auto-pay discount, variable rates range from 4.09% to 8.29% APR, while fixed rates range from 4.39% - 8.99% APR. NaviRefi charges no application, prepayment, or late fees, and getting a rate requires a hard credit check.
Pros
  • No application, prepayment, or late fees
  • No degree required to qualify
  • Flexible repayment terms
  • Hassle free payoff process
Cons
  • Not available in Nevada or U.S. territories
  • Not able to see rates without a hard credit check

NaviRefi at a glance

4.0
Editorial score

Online experience

Good online resources, but no access to rates
4.0

Customer services and support

Multiple ways of reaching lender but limited hours
3.0

Repayment flexibility

Offers flexible repayment plans & the option for special repayment programs
5.0

Loan Types Covered

Covers most student loan types
4.0

Eligibility

Doesn't cover bad credit, low income borrowers
4.0

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Suitable For?

NaviRefi is suitable for existing customers of Navient who can refinance their student loans for a lower rate. If you qualify, it can help you save money with its competitive interest rates and no fees.

Loan Features

With NaviRefi, qualified applicants can refinance federal private, and Parent PLUS student loans. While all applicants begin in a standard repayment program, it provides a Reduced Rate Program for borrowers with private loans struggling to make payments. It offers flexible terms of 5-20 years. Variable rates range from 4.09% to 8.29% (with autopay) APR and fixed rates range from 4.39% to 8.99% (with autopay) with eligible discounts. A minimum credit score of 680 is required, and applicants must meet income and credit requirements to qualify. However, it does not charge any application, prepayment, or late fees.

  • Loan types: federal, private, Parent PLUS
  • Repayment terms: 5-20 years
  • APR:
    4.09% to 8.29% (with autopay) variable,
    4.39% to 8.99% (with autopay) fixed
  • Minimum credit score: 680
  • Fees: none

The Application Process

You can apply online or over the phone with a customer service representative. Although you can get your rate in three minutes, it does require a hard credit check. When applying, you may need to supply information including:

  • Social security number
  • Employer name 
  • Income

Loan Terms

Excluding Nevada, NaviRefi offers refinancing to borrowers nationwide. To qualify for a loan from NaviRefi, you must have attended an eligible Title IV school. Loans are only available to US citizens and non-permanent residents that meet the minimum age of majority in the state where they apply. 

Although it does not give you an option to apply with a co-signer, current co-signers may also refinance eligible loans in their name. The minimum loan amount is $5,001, while the maximum is $500,000. NaviRefi does not require you to possess a degree to qualify for a loan.

  • Availability: all states except Nevada
  • Eligibility: US citizens and non-permanent residents
  • Schools: Title IV schools
  • Degree: not required
  • Loan amount: $5,001-$500,000

Repayment Terms

NaviRefi offers customizable loan terms of 5-20 years. With its 0.25% auto-pay discount, its variable rates range from 4.09% to 8.29% (with autopay) APR, and its fixed rates range from 4.39% to 8.99% (with autopay) APR. Qualified borrowers may be eligible for deferment, forbearance, reduced payments, or extended terms. 

How Safe Is It? 

Although NaviRefi claims to protect the personal information of its users, it does not elaborate on its security features. Its parent company, Navient, is currently accredited with the Better Business Bureau. However, its status and rating are under review due to pending government lawsuits alleging multiple consumer protection violations.

Help & Support

You can call customer service 8am-9pm ET, Monday-Thursday, and 8am-8pm ET on Friday at 844-381-6621. In addition, you can use its automated phone system to check your account and make payments 24/7. If you prefer, you can also send a secure email through your online profile. Although NaviRefi lists FAQs on its website, it does not feature a resource center or mobile app.

Summary

Excluding Nevada, NaviRefi offers student loan refinancing to borrowers nationwide. If you receive an invitation, you may apply to refinance a public, private, or Parent PLUS loan. It provides flexible loan terms ranging 5-20 years. NaviRefi offers variable rates from 4.09% to 8.29% (with autopay), and fixed from 4.39% to 8.99% (with autopay). While it does not require borrowers to have a degree, rates are only available with a hard credit check. NaviRefi does not charge any application, prepayment, or late fees.

Physical Address

NaviRefi

P.O. Box 8000

Fishers, IN 46038-8000

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Methodology

This review is based on information from NaviRefi's website and third-party reviews.

Disclaimer

You can choose between fixed and variable rates. Fixed interest rates are 4.64% - 9.24% APR (4.39% - 8.99% APR with Auto Pay discount). Starting variable interest rates are 4.34% - 8.54% APR (4.09% - 8.29% APR with Auto Pay discount). Variable rates are based on an index, the 30-day Average Secured Overnight Financing Rate (SOFR) plus a margin. Variable rates are reset monthly based on the fluctuation of the index. We do not currently offer variable rate loans in AK, CO, CT, HI, IL, KY, MA, MN, MS, NH, OH, OK, SC, TN, TX, and VA.

Loan cost examples: These examples provide estimates based on payments beginning immediately upon loan disbursement. Variable APR: A $10,000 loan with a 20-year term (240 monthly payments of $85) and a 8.24% APR would result in a total estimated payment amount of $20,434. For a variable loan, after your starting rate is set, your rate will then vary with the market. Fixed APR: A $10,000 loan with a 20-year term (240 monthly payments of $85) and a 8.24% APR would result in a total estimated payment amount of $20,434. Your actual repayment terms may vary.

THIS IS AN ADVERTISEMENT. YOU ARE NOT REQUIRED TO MAKE ANY PAYMENT OR TAKE ANY OTHER ACTION IN RESPONSE TO THIS OFFER.

Patrick Sather
Written by
Patrick Sather
Patrick Sather is an award-winning personal finance writer and licensed broker who has worked for some of the largest financial firms in the United States, including TD Ameritrade and Pacific Life. A graduate of the University of Nebraska in both Economics and International Trade and English, his articles on life's most common financial decisions and quandaries are straightforward, practical, and always easy to understand.
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See what some costumers are saying about NaviRefi
NaviRefi
Poor
Reviews 11
on
Excellent
9%
Great
9%
Average
9%
Bad
73%
A
april gray
3 months ago
Pick another agency
I have been dealing with Sallie Mae/Navient for over 15 years. There is no grade lower than "garbage" I can give this company for its: customer service, products offered, transparency/clear information, and unintuitive. The business of education is costly and will be with you for a long time, if you are not one of the "fortunate sons". Pick a company that will be there for you the whole journey.
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travis mandenberg
3 months ago
Navient purposely makes it difficult to…
Navient purposely makes it difficult to set up automatic payments hoping to collect more off of late fees. Any excuse they can give they will do it. Knowing that people working two or 3 jobs trying to pay off their loans won't have time for the 2 -5 phone calls at 20-40 minutes to set those up after a missed payments or any other excuses they give.
D
d garcia
4 months ago
Greedy company I am not eligible for…
Greedy company I am not eligible for Biden Harris student debt relief because Navient is a private greedy capitalistic company
S
sweetie
6 months ago
The GREED of Navient is Shameful!
I had an IBR plan of $55.88 and requested a postponement of 2 months. Instead NAVIENT increased my payments to $600.00. I am a senior citizen with limited earnings. Shame on them!!!
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nick agnone
9 months ago
Super disappointing
I've had the misfortune of having to deal with the imbeciles at Navient for over 8 years. The combination of poorly trained "customer service experts" with extremely sloppy record-keeping leaves you with the sensation of wanting to pull your own hair out with every email and phone call. I moved out of my parents house over 10 years ago and they continue to receive "urgent" mail that is directed to me. I have made this correction about a half-dozen times. When I reach out to customer service and finally reach an actual live person (30 minute wait), the representative seems more lost by my questions than I am. Super disappointing.
D
d garcia
a year ago
Navient is a private entity who is…
Navient is a private entity who is making money at the expense of struggling middle class. Horrible greedy company. And because they are a private entity one cannot ask for loan forgiveness via the federal government
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aaron osborne
2 years ago
Navient sucks.
The only thing they've done successfully is take my money. Anything out of the ordinary occurs and you're going to be in for more stress than necessary. They have made it clear that their employees cannot be trusted to deliver on promises. Absolutely worthless company who is profiting off people trying to better themselves.
A
alex medrano
2 years ago
The worst
The worst! They call non stop.
G
gay
3 years ago
I was paying this student loan…
I was paying this student loan consistently at 50 dollars, then increased it to 100 dollars FOR YEARS,then I noticed the balance never changed. I stopped because of hardship. I paid one time 500 dollars same thing the balanced never changed. I stopped due to frustration and I found out my balance of 5K, they splitted it 5 times that I owe 1K, IK,1K,1K,1K. They reported me delinquent 5 different times and 5 ways you could imagine to destroy your credit. NAVIENT YOU ARE SO BAD,FOR DOING THAT!!! THANK GOD there is STUDENT LOAN FORGIVENESS...
C
cynthia
3 years ago
Amazing
Always so helpful, always quick and very professional kind customer service.
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hillary leben
3 years ago
Navient owns my student loans and they…
Navient owns my student loans and they have been fine. They’ve been helpful during times when I couldn’t make payments.