We Help You Manage Your Student Loans

Visit our Servicing Transition page for information on the transition and how it impacts you.

Are You Considering Federal Loan Consolidation?

Consolidation into the Direct Loan program may allow borrowers with FFELP loans to take advantage of repayment plans or forgiveness options created solely for Direct Loans. It's important to understand and carefully consider all factors.

See if You Qualify for a Lower Interest Rate Through Private Loan Refinancing

NaviRefi and Earnest both offer competitive rates and flexible payment options. You can find out more and get your rate in just minutes on their websites.

Beware of Fraud — You Never Have to Pay for Help with Your Student Loans

Don’t fall victim to companies that promise to fix your student loans if you give them control over your account. Don’t pay to enroll in a payment plan that’s available for free to all borrowers with federal student loans.

Have You Been Affected by a Natural Disaster?

You may be eligible to temporarily postpone your student loan payments through an administrative forbearance. This option to postpone payment is available to individuals living in designated disaster regions. Federal and private education loans may qualify for this relief.

AREAS QUALIFYING FOR DISASTER FORBEARANCE

Ohio Tornadoes — Declaration Date: May 2, 2024

Iowa Severe Storms — Declaration Date: May 24, 2024

Texas Hurricane Beryl — Declaration Date: July 9, 2024

Explore Federal Student Loan Repayment Options

Learn about Income-Based Repayment (IBR), which may lower your payments based on income and family size. Or find out if deferment or forbearance is right for your short-term payment postponement needs, and explore loan forgiveness and consolidation.

Explore Private Loan Repayment Options

Find out about our Interest-Only, Extended Term, and Rate Reduction programs, which may be available depending on your lender’s loan terms as well as you or your cosigner’s financial situation.

Avoiding Delinquency and Default

About Delinquency

Delinquency occurs when you don't make your loan payments on time. Your loan is considered delinquent when payment has not been made by the day it is due.

Being delinquent on your loans may be a serious situation that might lead to serious consequences to you as the borrower or cosigner.

Consequences of delinquency may include:

• Delinquency can be reported to consumer reporting agencies, which may impact your credit score.
• Increase in your loan balance may occur with the assessment of late fees and returned payment fees, if applicable.
• Potential loss of your loan benefits/repayment incentives.

About Default

Student loans are considered in default depending on the type of loan:

• Direct and FFELP – Typically when the loan reaches 270 days delinquent.
• Health Education Assistance Loan (HEAL) – When the loan reaches 120 days delinquent.
• Private Loans – Refer to your promissory note.

Defaulting on your federal or private loans may result in serious consequences to you as the borrower or cosigner.

Consequences of default may include:

Direct, FFELP, and HEAL Loans—

• The loan will be transferred to the U.S. Department of Education or guarantor (as applicable), who can report your default to all nationwide consumer reporting agencies and may impact your credit score.
• The entire balance is immediately due and your account may be assigned to a collection agency.
• Your student loan debt may increase because of late fees, capitalized interest, collection fees, and other costs associated with the collection process.
• The U.S. Department of Education or guarantor (as applicable) may garnish your wages or offset your state and federal tax refunds and other payments made by the federal government to you. This means they can take your federal and state tax refunds or a portion of your disposable income.
• You lose eligibility for additional federal student aid and repayment options such as Income-Driven Repayment (IDR) plans, deferment, and forbearance.

• The U.S. Department of Education or guarantor can take other legal action against you.

• Immediate Full Repayment - After default, the entire loan balance will become due immediately rather than just the monthly payments that you have missed.
• Additional Credit Bureau Reporting - The charge-off of your loan may be reported to the consumer reporting agencies. The charge-off and any prior delinquency may appear on your credit report for up to 7 years from when the delinquency began.
• Navient Recovery Referral - Your defaulted loan may be assigned to Navient's Recovery Department in order to resolve the balance.
• Collection Agency Referral - Your student loan may be referred to a collections agency. While at the agency, collections activities will take place to recover your balance in full and your loan will continue to accrue interest.
• Attorney Referral - Loans not resolved by Navient or a collection agency may be reviewed for referral to a collection attorney licensed to practice law in your state. If legal action is filed against you, Navient will seek to obtain recovery of all amounts owed and reimbursement of our expense as allowed by law.