Navient Student Loan Borrowers Should Know The Following
It is one of the ways in which students can pay their educational loans. There are students who prefer this method to repay their loans. If you are using this method of loan payment there are things that you need to factor in. A press release was released in 2017 by the Consumer Financial Protection Bureau which was a lawsuit against the Navient. 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. To be sure about the loan payments the students can check the Student Aid Website for more details. Sometimes you should confirm whether there is any inaccurate information in regard to your loan and if your loan details are up to date. 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.
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. You can file a case with either the Navient, the U.S. Department of Education and also the Consumer Financial Protection Bureau can be able to help you. All the three departments can be able to listen to your case because you are not limited such that you can only file your complain in only one department you can report to all the three, that is the Navient, the CFPB, and the U.S Department. It is also important for the student to understand and be informed about the student loan forgiveness. There are certain conditions and factors that have to be followed for you to be eligible for the loan forgiveness. 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. The school loan forgiveness allows the student to achieve their educational 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. 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.
Partner post: description