Navient Student Loan processing

We began with Sallie Mae, which became Navient. Paid a like monthly amount for about ten years and then satisfied balance in one swoop. Seemed like we were never making headway but didn't press for information.

I do know Navient is under fire for not being helpful in assisting loan holders in making best use of their monies.

As for who to speak with, no clue as fsaoperations is a bottomless pit. Maybe pull everything together, develop a listing of questions/concerns and send via certified mail to Navient for their position.

Navient (Sallie Mae) was the servicer for my loans right out of college. I only had 5 different types of loans, but my experience with them is that you had to be very specific with how you directed over-payments. You can pull a transaction summary to see how they are allocating the payments. Also, different loans have different rules for capitalization of interest (subsidized v. Unsubsidized).

I recently consolidated and refi-ed with SoFi. I got a way better rate and it’s a pretty painless process.

You should be able to look up for each loan, for each payment, what was applied and how. Get that data, run it against some amortization schedules that you create, and see where the differences are.

I had a whole bunch of loans but when I graduated I consolidated them down into two. One sub and one unsub, both at Sallie Mae (now Navient). I never had any issues.

Navient is one of the most pervasive orgainzations that I have ever dealt with. I co-signed one of my children's student loans years ago. Even with additonal principle credied to the monthly the balance was not decresing as fast as it was expected. Why is more applied to principle for some months and less on other months? You should know this.

It was difficult to get an answer from their associates.
Much more interest is applied to the balance if the loan is not paid upon reciept as opposed to its due date. There are other harmful applications that Navient uses to reduce the loan balance when the borrower makes equal multiple monthly pre-payments that allows the balance to grow. For one example, Navient would prefer to allow a borrower to simply apply an extra monthly payment to an extended pay period on the back end if not specifically requested otherwise and not bill the borrower for the payment the next month.
This particular tactic is not specifically disclosed but upon being asked the assocaite will tell you something like "most borrowers prefer it that way."

I was able to pay the balance a few months ago. I would have gotten a conventinal loan to escape this debt a few years ago had I known more about the Navient policies.

Continue to educate yourself with these charltans.

Make sure they are applying to extra money in the payment to the principle, and not just going to prepayment of next month’s payment.

Thanks, sounds like what we suspected in that overpayments are not being applied properly. He can check into that as one avenue. If he finds that to be the case, any way to retroactively fix the issue or only recourse is to make sure future payments get applied properly ?

There are excel spreadsheet you can track this stuff if you honestly think there are errors. LINK

It’s likely he just has a lot of loans and will not be making a huge dent immediately. Similar to a mortgage. He should start directing any overages to a specific loan rather than divided over the 15 loans. Start with highest interest rate first. I have experience with Navient, and don’t see any malicious intent, they just have a crappy interface IMO. But, almost all of them do. It’s as if they make it as tedious as possible to pay them off quicker than scheduled.

I keep a spreadsheet analysis of my loans haven’t noticed anything out of the ordinary with Navient. It is a little more difficult to view the loan details together, but that’s a minor nuisance.

Also, it’s principal not principle.