In university life, many students face problems concerning economical reasons. Tuition fees, low budget, and expensive stuff can lead to that kind of issues for many students. That is the reason why those students are trying to find a loan program and get benefit from it. In this post, we will mainly raise the issues regarding the Navient student loans while reviewing it from different sight. Navient is the organization that services federal loans as well as private ones. Navient student loans refinancing has been a controversial issue for the past several years because of the complaints and lawsuits against the company.
It is directly related to students because if you are facing the same kind issues in your life and paying for student loan most probably your money is going to Navient. This student loan program is the most significant loan service in the United States. Thus the problems that they are facing are big as well. Navient has another company called NaviRefi, and its mission is also about student loans, though we will talk about them later.
Navient Student Loans
In 2014 after Sallie Mae divided, Navient established as a result of that split. Sallie Mae was the founder of this kind of companies since the 1970s, and in 2014 the service spat into two parts which were the bank business and student loan service. The second one’s name lately became Navient, and that company began operating from that time on regarding Navient student loans. After controversial events that surrounded the company, Sallie Mae stated that she is not responsible for the costs and expenses from the official Navient lawsuit and tried to avoid these issues. However, as more than 90 percent of this company belongs to Sallie Mae, she should be responsible for remediation and fix those bugs.
Common Complaints about Navient
In recent years it becomes ordinary to hear and see Navient in newspapers about the controversial issues, lawsuits, etc. In many states, Navient tangled in federal and local courts regarding their actions. The reason for those complaints was because of the repayment process which Navient failed to do correctly. Additionally, the noise became louder because the company also did not accurately inform the student loan acquiring people about the process. If this company services your loan, then there are some essential things that you need to know in order not to face these issues. Some of the students wanted to change this company and get another service for their student loans and to make that happen; you need to apply for loan forgiveness programs as well as refinancing services.
Review of student loan services of Navient
Navient is considered to be one of the most popular student loan services that are available. However, Navient student loans services were involved in many lawsuits regarding their job with the United States Department of Education. The Department claimed that Navient is guilty of pushing student loan getting students to declare forbearance and also did not inform those students correctly regarding student loan forgiveness. That issue put those students in a bad situation because they have not appropriately informed about plans for repayment, fees that they should bear in case they face charges. Those reasons lead to many lawsuits which still are trying to be solved by the Department of Education. The number of complaints is very high for Navient in comparison with other brands who are doing student loan services.
It is estimated that Navient got more than 550 complaints about every million students that acquired the loan. Better Business Bureau also decided to give A- to this organization because of inefficient work that they have been putting into perspective for the past several years. For the students that face the same problems while having student loan services from Navient, it is recommended loan consolidation if only they want to keep their federal credit. If not they can change their company indeed which is considered the best option from experts because in that case, those students will be able to refinance their student loans. Though to do that they need to solve all those issues with Navient otherwise, it will be possible neither to consolidate nor refinance the student loan.
Complaints from students regarding Navient
Just like any reviews for some loan servicing company, Navient student loans service reviews can be different from each other. These three are the most spoken complaints that made Navient’s image look bad. The customer service and communication are those two head complaints that came from students. The first one is customer service. Most of the students complained about the customer service of this company because they could not meet their expectations regarding the service that Navient is offering.
The main issue is that the working stuff of Navient in many of their dealers does not know the process of student loan repayment. Many students argued that they wanted to solve their problems but instead end up explaining the service that their company is offering for those students. In their web page, Navient did not mention some crucial issues which are frequently asked by their service borrowers that is why most of the students did not like the service that they are providing regarding customers.
Also, many students regret going to Navient’s office because they asked just one question and there were times that they waited for hours for only one answer that is the main reason why this company gets many complaints from their users. How can we solve this issue? Students can find most of their solutions, not specific ones, on the internet and if they could not manage it, they should try to go and talk to the representatives of Navient. Make sure that you have enough time while doing so because they probably will make you wait more than you thought.
Complaints regarding communication
The crucial issue in this situation is that Navient agent did not clarify the charges that student will face during that time frame. Thus student becomes a victim of the case. Situations like this happen all the time that is why many complaints state that Navient has severe communication problems regarding their service. What is needed to avoid this problem? To prevent communication problems with Navient, a student needs to do his or her web research about the case that they are facing then if they could not find the answers they can approach Navient office and talk to them. Hopefully, this post will be helpful for you to understand the process and find relevant solutions for your complaints regarding this kind of student loan programs.
Communication is the second complaint that Navient student loans service faces most of the time. As we talked in the previous paragraph, student loan borrowers could not get answers in time from the management of Navient. There are several complaints that when students get the response from them, those answers were incomplete and most of the time false. For instance, student loan borrower is asking for some time because that student will not manage to pay it in proclaimed deadline the deadline and then Navient agents are calling him or her back and saying that they are giving three months to pay those loans back.