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Student Loans Student Loan Repayment

How to Get Rid of Navient Private Student Loans

Navigating the complexities of student loans can be daunting, especially when dealing with private loans serviced by Navient. As one of the largest student loan servicers in the U.S., Navient handles millions of accounts, but it’s faced criticism and legal action over its practices. This has left many borrowers looking for alternatives.

One such alternative is refinancing. Refinancing your Navient private student loans can allow you to replace your current loan with a new one—ideally with better terms or a lower interest rate. It also provides the opportunity to switch to a different loan servicer if you’re unhappy with Navient’s service. 

Refinancing can free you from Navient as a lender, but it doesn’t eliminate the student loan itself. The goal is to make your student loan debt more manageable and less costly. In this guide, we’ll focus on refinancing Navient private student loans and discuss four of the top lenders in the market. As always, it’s important to assess your individual circumstances and consider all your options before making a decision.

About Navient

Navient, a major player in the student loans industry, originated as a spinoff from Sallie Mae in 2014 and became one of the largest student loan servicers in the United States. Navient serviced federal and private student loans, with millions of borrowers relying on it for loan management. However, it no longer services federal student loans.

Here are two important points about Navient:

  • Services provided: Navient is a servicer and lender. It manages loans for other lenders, handling billing and other services for borrowers, and it offers its own loans.
  • Types of loans serviced: Navient services private student loans. Its federal loans were transferred to Aidvantage in 2022.

Despite its significant role in student loan servicing, Navient has faced multiple lawsuits over its practices concerning its handling of federal and private student loans. The allegations range from misapplication of payments to steering struggling borrowers into forbearance instead of income-driven repayment plans. Find out more about the Navient lawsuits.

Why refinance Navient private student loans?

Refinancing your student loans can provide several benefits, especially for those with private student loans from Navient.

Here are several reasons you might consider it:

  • Lower interest rates: If you qualify for a lower interest rate, you could save a significant amount of money over the life of your loan.
  • Consolidate loans: Refinancing can consolidate multiple loans into one, simplifying your monthly payments.
  • Adjust loan terms: You might choose to lengthen your loan term for lower monthly payments or shorten it to pay off your debt faster.
  • Escape negative aspects of Navient: If you’ve experienced issues with Navient’s loan servicing, such as those alleged in the lawsuits, refinancing can allow you to switch to a different loan servicer.

However, refinancing isn’t for everyone. 

How to determine whether refinancing is right for you: Our expert’s take

Erin Kinkade


I would not recommend refinancing if the borrower has a poor credit rating and may not be accepted, the terms available to them to not offer an economic benefit, the borrower does not have a willing cosigner to help, or refinancing leads to assuming a new loan with a higher interest rate (even if the borrower can afford the higher payment or if the term is lengthened). In this case, I’d recommend waiting until rates go down to avoid the additional expense.

Options to refinance Navient private student loans

Based on our research, here are four lenders we recommend exploring if you’re considering refinancing your Navient private student loans. Click the lender’s name in the table for more about why we think it’s a solid alternative to Navient.

LenderLendEDU rating (out of 5)

SoFi: Our top-rated online lender

LendEDU rating: 4.9 out of 5

  • Offers specific refinance programs for different professional and academic categories
  • Multiple rate discounts
  • No application, origination, or prepayment fees

SoFi stands out as an online lender that offers a variety of loan refinancing options. The company’s diverse loan offerings make it an excellent choice for borrowers with specific needs, such as medical professionals or parents with PLUS loans.

If you refinance your Navient student loans with SoFi, you’ll gain access to exclusive perks like financial planning and networking events. You can also earn points through SoFi’s Member Rewards program, then use your points to pay back your loan.

Credible: Our highest-rated marketplace

LendEDU rating: 4.8 out of 5

  • Compare rates from up to 7 lenders with a single application
  • Service is free for borrowers

Credible operates as a lending marketplace for student loan refinancing. This can be a terrific resource if you’re looking to refinance Navient private student loans because you can compare rates and terms from various lenders in one place.

The major advantage of using a marketplace is the ability to view multiple offers with a single prequalification. Checking your rates with Credible won’t affect your credit score. 

Earnest: Best skip-a-payment benefit

LendEDU rating: 4.8 out of 5

  • Option to sign up for biweekly automatic payments
  • Skip 1 payment every year with no penalty
  • 0.25% autopay discount

Earnest stands out for its skip-a-payment feature, which can be a lifesaver in a tight financial situation. This unique benefit, combined with competitive rates, makes Earnest a strong contender for refinancing Navient student loans. 

Earnest also offers the flexibility to tailor your loan term down to the day to achieve your ideal monthly payment. This level of customization is rare among lenders and can allow you to adjust your payment plan to fit your budget.

ELFI: Best personalized support

LendEDU rating: 4.8 out of 5

  • Assigns applicants a Student Loan Advisor to assist throughout the process
  • Allows parents to transfer Parent PLUS loans to the student
  • $400 referral bonus

Education Loan Finance, or ELFI, provides personalized support throughout the loan refinancing process. When you apply for refinancing with ELFI, your dedicated Student Loan Advisor will assist you from start to finish.

In addition to its high level of customer service, ELFI offers competitive rates and a variety of term lengths, making it a strong option for refinancing Navient private student loans. If you know others looking to refinance, you could take advantage of ELFI’s $400 referral bonus.

Other methods to get rid of Navient private student loans

Refinancing is our recommended method for most borrowers who want to get rid of Navient private student loans, but alternative methods are available:

Repayment in fullSignificant interest savingsNot feasible for most borrowers
Debt settlementPay less than you oweForgiven loan portion could be taxed
Student loan bankruptcyDischarges balance owedSevere lasting impact on credit score

As you explore your options, weigh the potential short- and long-term consequences of each one. Consider, too, whether you’ll qualify. To declare bankruptcy, for example, you must prove that repaying your student loan would cause undue hardship.

Our expert’s experience

Erin Kinkade


Repayment in full has been an option for my clients in several instances: inheritance, large cash bonus from employer, and family (often parents who pay it off for their child when the parents are in a better financial condition). I always recommend discussing your options with a trusted advisor and understanding your options with the funds from an inheritance, employer, or other windfall to ensure paying off the loan in full is the most advantageous for your unique circumstance.

These options are methods to get rid of Navient private student loans, but our primary focus is on refinancing as a way to potentially lower your interest rate, reduce your monthly payment, or change your loan term. Always consider your financial situation and consult with a financial professional before making decisions about your student loans.

Is refinancing Navient private student loans right for you?

Refinancing your Navient private student loans could be a wise financial move, but it’s important to understand the implications and assess your circumstances

Our expert’s advice

Erin Kinkade


Understand why you want to refinance, and get familiar with your cash flow by tracking your income and expenses to understand what you can afford. Monitor your credit score and credit report to understand where you stand, and make corrections to any mistakes on your credit reports ASAP—be sure to check your reports at all three credit bureaus. Bottom line: The refinance should be an economic benefit for the borrower. It should lower your monthly payment, allowing you not to incur additional debt or secure a lower interest rate—or both.

Remember, the best lender for you will depend on your individual needs and financial circumstances. The lenders we discussed—SoFi, Credible, Earnest, and ELFI—each have unique benefits and might be a fit based on your needs. 

Taking the time to explore your options can put you in a stronger position to take control of your financial future. Refinancing your Navient private student loans could be a step toward achieving your financial goals. Always consider your current financial situation, future plans, and consult with a financial professional before making any decisions.

Check out our guides for more:


What are Navient private student loans?

Navient private student loans are serviced by Navient Corporation, a major student loan servicer in the United States. These loans are not backed by the federal government, and private lenders set the terms and conditions. They may have different interest rates and repayment options than federal student loans.

Can anyone refinance their Navient private student loans?

Anyone with Navient private student loans can apply to refinance their loans, but approval is not guaranteed. Refinancing is subject to credit approval and depends on several factors, such as your credit score, income, employment history, and the lender’s specific criteria. 

It’s always best to check the eligibility criteria of the lender you’re considering. If possible, we recommend prequalifying with several lenders to ensure you’ll get the best rates and terms possible.

What’s the difference between refinancing and consolidation?

Refinancing and consolidation may be used interchangeably, but refinancing involves taking out a new loan with a private lender to pay off one or more loans, often with a lower interest rate or a different repayment term.

Consolidation, specifically a Direct Consolidation Loan, combines multiple federal student loans into a single loan with a weighted average interest rate. You cannot include private loans in a federal loan consolidation.

Recap of the best lenders for refinancing Navient private student loans

LenderLendEDU rating (out of 5)