I’m about $1,000 past due on my payments. Being in social work is also the reason I can’t afford to pay all my loans. Source: Navient. Instead of spreading an extra payment across all loans, focus on one loan and throw every single penny at it until it’s paid off. Other Ways to Pay Off Student Loans. I have some student loans that need to be paid off but it seems that Navient only allows me to pay using debit cards automatically or credit cards over the phone with a surcharge. I’ve been a few months off my payments everytime I’ve been unemployed. You don't get to pick your servicer. I also have blog posts for FedLoan and Great Lakes. Yet, given that I was accumulating $3 in interest every day, I wanted the money to be applied the day I sent it and against those loans that were highest interest and highest dollar value. When I called Navient about this exact question last year they told me that my loan is a term length loan; so if I were to make extra payments on one of my dozen loans then my total monthly payment would be adjusted (go down) in order to make sure that my loans would still be paid off in x months. I’ve experienced unemployment off and on the last few years. The Navient student loan forgiveness crisis has been a hot topic for more than a decade now, and that is the main reason why these types of cases are essential to know, analyze, and follow. Steve, I owe Navient about $23,000 in student loans. If you are fortunate enough to have access to $22,000, you may wonder if your lender would be willing to take the cash up from and call it even. Although the surcharge is not overwhelming ($14.95), it is also cumbersome to pay by phone and not smart to pay … Then move onto the next one. But for more information, see Top 10 Reasons You Should Stop Paying Your Unaffordable Private Student Loan. To wipe out Navient Federal student loan debts, you can sue the following options. It is their job to make sure your loans remain current. Paying one month of my student loans would be half my income every month. While the student loan settlement won’t be for pennies on the dollar, in my experience, based on the Navient settlement offers I’ve seen over the years, you’ll end up paying about 30 to 60% of what you owe. The forgiveness program is for public service, as I am in social work. If your Navient loans fell into default and became significantly past due, it is possible to settle them for less than the full balance. My original loan amount was around $69,396 (12 loans ) and I have paid $653 for pretty much the life of the loan for a total as of Feb 2019 $90,551.61. They help the federal government manage your loans. If you have Navient Federal Student loan, congratulation, you are just more lucky than private student loan borrowers. A Navient student loan settlement becomes a possibility. Suppose you have $30,000 in student debt and will be paying it off for the next 25 years. They act as the middleman between you and the lender. Navient repayment is $619 per month, and FedLoan is $227 per month. It is good to mention that this is not only the case between Navient student loan forgiveness servicing companies and ordinary American citizens; it is more important than that. Many borrowers are turning to side hustles to help them become paid in full. Taking on a second job is what Amanda R. from Fairfield, Ohio, did to become student loan debt free. And was told yes I could do that but it would be for the full amount showing, not just paying off principal amount of loan. I then asked about a pay off. Navient is a federal student loan servicer. What Is Navient? Loans in default will affect the servicer. So, I would pay $1,000, paying off the current month and Navient would reduce the next month’s bill by $314. 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