If Navient is your student loan servicer, Navient collects your student loan payments and manages customer service for your student loans.
Some borrowers decide to keep their student loans with Navient until they pay off student loan debt.
Student loan consolidation is available only for federal student loans.When you consolidate student loans, you combine your existing federal student loans into a new Direct Consolidation Loan.
The interest rate for a Direct Consolidation Loan is equal to a weighted average of your current interest rates on your federal student loans, rounded up to the nearest 1/8 %.
The top reason to refinance student loans is to lower your interest rate, save money and pay off student loans faster.
Since there are no origination fees or prepayment penalties, you can refinance student loans each time you find a lower interest rate.