When it comes to financing higher education, many students turn to private student loans after exhausting federal loan options.
Among the well-known student loan providers, Navient has long been recognized for servicing both federal and private education loans. If you’re considering Navient personal loans or simply comparing the best private loans available, it’s important to understand how they work, who they’re best for, and what alternatives exist.
What Are Navient Personal Loans?
Navient, best known as one of the major student loan lenders and servicers in the U.S., once offered its own line of private student loans. These included undergraduate student loans, graduate student loans, and even private school loans for professional programs.
Today, Navient no longer originates new loans. Instead, they focus on servicing existing student debt and working with other lenders. However, many borrowers still hold Navient personal loans, and knowing how to manage or consolidate them can make a big difference.
Key Features of Navient Private Student Loans
While new applications for Navient private student loans aren’t available, it’s helpful to know the features these loans offered, especially if you’re comparing them with good private student loans from other lenders:
- Loan Types: Covered undergraduate, graduate, and private loans for college expenses.
- Rates: Competitive interest rates at the time, similar to other best student loan interest rates offered by lenders like Citizens, Discover, and SoFi.
- Repayment Options: Flexible plans, including interest-only payments while in school.
- Consolidation: Borrowers could seek private student loan consolidation through refinancing with Navient or partner lenders.
Alternatives to Navient Personal Loans
Since Navient no longer issues new student loan private loan products, students looking to apply for student loans should consider other top lenders. Here are some strong options:
- Citizens Student Loans – Known for flexible repayment terms and parent loan options.
- Discover Student Loan – Offers rewards for good grades and no fees.
- SoFi Loan Consolidation – Popular for refinancing and private student debt management.
- ELMSelect – A student loan website that helps compare private student loan options across multiple lenders.
Should You Refinance or Consolidate Navient Loans?
If you currently have Navient personal loans, you may be considering private student loan consolidation. Refinancing with another lender could help you:
- Lower your interest rate
- Simplify repayment by combining multiple loans
- Access better repayment terms tailored to your income
Some of the best graduate student loans and refinancing options are available through lenders like SoFi, Earnest, and Citizens. Always compare multiple lenders to ensure you’re getting the most competitive deal.
Tips for Applying for Private Student Loans
If you’re starting fresh and need to apply for student loans, keep these steps in mind:
- Complete the Student Loan Application Early – Apply as soon as you know your costs.
- Compare Rates – Look at the best student loan interest rates available from top student loan lenders.
- Check Cosigner Options – Many private education loans require a creditworthy cosigner.
- Borrow Responsibly – Only take what you need to cover tuition, books, and living expenses.
Final Thoughts
Although Navient personal loans are no longer available for new borrowers, existing customers still need to manage repayment carefully. If you’re looking for new funding, explore private student loan options from trusted student loan providers like Citizens, Discover, and SoFi. And if you already have private loans, consider refinancing to secure lower rates and better repayment terms.
Choosing the right private loans for college or refinancing plan is a big decision—but with the right research, you can find a path that makes your education more affordable and your repayment journey more manageable.