NaviRefi Student Loan Refinance Review

Our Rating: D- (Compare)

NaviRefi is an invite-only student loan refinance program that consistently advertises conflicting information across its website. Its parent company, Navient Corporation, recently lost its contract with the U.S. Department of Education due to repeated unlawful conduct.

Loan Limits $5,001 – $500,000
Fixed Rates 4.69%* – 9.99%
Variable Rates 5.89% – 9.99% (Undisclosed Cap)
Terms 5, 10, 15, or 20 years
Min. Credit Score Undisclosed
Apply Link

*Lowest rates include a 0.25% interest reduction for enrolling in auto-pay; NaviRefi posts multiple versions of rate ranges across its website with no indication of which rates are current or correct.

Skip to: Rates & Fees | Eligibility Requirements | Repayment Options | Consumer Reviews & Complaints | FAQ

Loan Refinancing Options
Private student loans
Private parent loans  
Federal student loans
Federal Parent PLUS loans  

NaviRefi Refinance Rates & Fees

NaviRefi offers fixed and variable refinancing rates. The lowest rates include a 0.25% interest reduction for enrolling in auto-pay.

Note that NaviRefi may offer more term lengths than those listed.

Refinance Loan Rates
Term† Fixed Rate Variable Rate
5 Year 4.69% – 9.63% 5.89% – 9.07%
10 Year 5.46% – 9.71% 6.01% – 9.66%
15 Year 5.49% – 9.93% 6.14% – 9.81%
20 Year 5.69% – 9.99% 6.30% – 9.99%

Additional information about NaviRefi refinance rates:

  • Checking your rate with NaviRefi will affect your credit score. By the time you get an invite from NaviRefi, they will have already prescreened your credit history with a soft credit check. To process your application, they will conduct a hard credit inquiry (learn the difference).
  • Variable rates are only available to residents of Alaska, Colorado, Connecticut, Hawaii, Illinois, Kentucky, Massachusetts, Minnesota, Mississippi, New Hampshire, Ohio, Oklahoma, South Carolina, Tennessee, Texas, and Virginia
  • Variable rates are based on the 30-day SOFR (5.15% as of this writing) published by the Federal Reserve Bank of New York on the 25th day (or the next business day) of the preceding calendar month prior to the 1st of each month and rounded to the nearest 0.01%.
  • This lender does not publicly disclose a variable rate cap.

NaviRefi refinance rates recent history:

Over a two-year period (2022-2024), NaviRefi increased its lowest and highest average available student refinance APRs 117%.

In 2023, NaviRefi raised its lowest available fixed interest rate for new loans 25.1% (from 3.99% APR) and its highest fixed interest rate 11.1% (from 8.99% APR). Meanwhile, the lowest available variable rate went down 35.4% (from 5.56% APR) and the highest variable rate declined 26.0% (from 9.46% APR).

In 2022, NaviRefi raised its lowest and highest fixed interest rates 63.5% and 48.8%, respectively; its lowest and highest variable rate increased 137.2% and 60.6%.

Additional Fees

Beyond interest rates, there are a number of fees a refinance lender may charge up-front or during the loan servicing period. Below is a list of these fees that NaviRefi does or does not charge.

Fee Type Amount Charged
Application Fee Undisclosed
Loan Origination Fee None
Disbursement Fee Undisclosed
Prepayment Penalty None
Late Payment Fee Undisclosed
Returned Payment Fee Undisclosed
Collection Fee Undisclosed
  1. Application fee – fee to apply for rates & approval.
  2. Loan origination fee – fee to create the new loan.
  3. Disbursement fee – fee for distributing funds to lenders to pay off loans that have been refinanced.
  4. Prepayment penalty – fee for making extra payments to reduce a refinance loan balance or pay it off early.
  5. Late payment fee – fee for making a late payment.
  6. Returned payment fee – fee for failed payments due to insufficient funds, also known as a “bounced check”.
  7. Collection fee – fee for collection activity on a defaulted debt.

Current Promotions & Offers

NaviRefi offers a 0.25% interest rate reduction when borrowers enroll in automatic payments.

NaviRefi Refinance Eligibility Requirements

To qualify for refinancing with NaviRefi, all borrowers must meet the criteria below.

  • Citizenship Requirement: U.S. citizenship or permanent residence.
  • Income Requirement: proof of income.
  • Credit Score Requirement: undisclosed minimum score.
  • Graduation Requirement: unspecified.
  • Location Requirement: residents in 49 states (excluding Nevada) and the District of Columbia.

Additional restrictions apply for specific individuals and loans.

NaviRefi Student Loan Repayment Options

Lenders vary greatly on the benefits and options provided to borrowers during the loan servicing period. Additionally, benefits may only be available on a case-by-case basis. NaviRefi offers some relief options. Some of these options include deferment or forbearance, rate reductions or reduced payments, and total disability discharge.

Deferment & Forbearance

NaviRefi offers deferment or forbearance under certain circumstances. For example, borrowers may apply for a short-term forbearance due to events related to COVID-19. See NaviRefi’s conditions for deferment and forbearance below.

Condition Coverage
Returning to grad school Deferment
Disability rehabilitation Undisclosed
Active military duty Deferment
Involuntary unemployment Undisclosed
Economic hardship Undisclosed
Natural disaster Unspecified
Temporary hardship Undisclosed

Additional Options

NaviRefi may offer other opportunities for relief or contract modification.

  • Co-signer release is not an option with NaviRefi.
  • Death / disability discharge is available in the unfortunate circumstance that a borrower passes away or suffers total permanent disability.
  • NaviRefi also offers a rate reduction program that temporarily lowers borrower interest and monthly payments for 6 months. Eligibility depends on financial hardship.

NaviRefi Reviews, Complaints & Lawsuits

Beyond our own findings, our team also collected the most genuinely insightful customer experiences we could find, including any instances of legal action against the company in which the details became public.

NaviRefi Online Reviews

Below are 3 samples of NaviRefi customer reviews we found on public forums, included here for their value as unedited, uncensored, and unsolicited user experiences. Note that these reviews are unverified, may include inaccuracies, and may provide outdated information (about rates, bonus offers, etc.).


“After calling to discuss, I learned that I cannot use Navi Refi to refinance my Navient student loan because I don’t have enough income.

Weird since I had no income when I borrowed the money, never missed a payment in 10 years, AND have a credit score higher than 750…🤔

Anyone else in student loan debt and strongly dislike Navient (formerly known as Sallie Mae)?!.”Marilyn Lambert on Facebook, 5/31/2020


“Was sent an offer with a “guaranteed acceptance” and promised a fixed rate. Throughout the process all I was seeing was a variable rate. Pressed the submit button and was immediately denied. Have yet to receive a reason why. I assume I took a hit on my credit report even though I was “guaranteed.” I don’t believe NaviRefi is a reputable firm.”Rod H. on SuperMonday, 6/19/2019


“Navirefi is a relatively new operation, and I couldn’t find much on them when I started the process a couple months ago. So heres my experience.

TL;DR: Got approved for a good rate, they lowered the rate even more unprompted after origination, 2 months from origination to first payment (unexpected), website sucks but does what you need it to. Overall good.

I was looking to refinance the remainder of my wife’s private loans, varying in rates from 5.5-6.5%. Targeting a full payoff in less than 5 years. Now my wife is not very interested in talking on the phone and in general dealing with financial responsibilities (thats my duty and I’m fine with that). So I applied all online via invitation (that is the only way you can get with Navirefi, apparently), and was conditionally approved for $72k @ 4.19% (autopay), which is about what I expected for her creditworthiness. I let this stagnate for maybe 2 weeks while they tried to call several times to talk to her and wrap it up. As I said, she’s not big on that sort of thing and we are busy people. Meanwhile she (I) applied through Earnest and was approved for $72k @ 4.8%, and honestly I was probably just gonna go with that to be done with it, and since I have worked with Earnest on my own loans I knew what I was getting into.

So out of the blue, NaviRefi gives a final approval to the 4.19%, no need to talk on the phone. So I go for it. Sign agreements, etc. I think I signed in mid june, and they set my first payment for $0 on July 25. I contact to inquire, they say thats when my first billing cycle starts, and actually I won’t be charged until August 25. Ok fine, some extra cash flow for a little bit, while interest accrues.

Then early August, out of the blue again, they send an e-correspondence informing me that “hey, we reviewed your application further, and you should actually have a rate of 3.25%”. They even retroactively refunded the 0.94% difference in accrued interest since the loan originated! Unbelievable news from a company (SallieMae/Navient) who we’ve loathed so long.

So my first payment just applied successfully on Aug 25, no issues. I have the bill for the next payment and know what to expect. The website is pretty much a POS, and can be quite slow. The chat has never worked, only email. But it has been a very good experience overall. Feel free to ask any questions.”dwurl on reddit, 8/27/2018


More (unfiltered) customer reviews of NaviRefi and Navient are available at TrustPilot.com (1.9 out of 5) and ConsumerAffairs.com (3.2 out of 5).

NaviRefi Consumer Complaints

As consumer finance companies, student loan refinancing lenders fall under the jurisdiction of the Consumer Financial Protection Bureau (CFPB), a federal agency. As part of its mission, the CFPB allows consumers to log official complaints. These complaints are publicly available on the CFPB official website. Since April 3, 2015, consumers have submitted 39,705 complaints about Navient Solutions, LLC (Navient & NaviRefi) to the CFPB at an average of one (1) complaint every 2 hours and 38 minutes; this is nearly 433 times higher than the average daily complaint rate among reviewed lenders. Among 18,687 complaints with narratives, 514 or 2.8% specifically reference refinancing.

In 2023, Navient received 1,376 consumer complaints, which is equivalent to:

  • 42.3% of the number of consumer complaints Navient receives in an average year.
  • one (1) complaint for every $3.10 million of that year’s corporate revenue.
  • one (1) complaint for every three (3) employees.

The allegations made in these complaints are unverified, are not necessarily representative of all consumers’ experiences with NaviRefi, and may contain outdated information (about rates, bonus offers, etc.). Note that a lender with a large customer base is likely to have a higher number of complaints when compared with smaller lenders. Line Graph: Consumer Complaints About Student Loan Refinancing from Navient, Public Complaints filed with the Consumer Financial Protection Bureau, only complaints that specifically reference student loan refinancing from 2015 (18), 2016 (42), 2017 (181), 2018 (91), 2019 (56), 2020 (29), and 2021 (22) Below we’ve included three (3) of the most recent complaints (as of this writing) in which the consumer (1) consented to sharing their details, and (2) made specific reference to refinancing.


Complaint 8392423
2/21/2024
Washington

“Navient calls me every day three time a day even after I have spoken to a representative and let them know I can not afford what they want to offer me right now. They call my co signer all day every day and have left him messages. We are divorced and he has a limited income as well, he can not afford payments. They do not leave me any messages and call me from different numbers. I had been working with an advocate by the name of XXXX XXXX XXXX and have asked her repeatedly to call me but she does not respond. I have asked representatives to connect me to her and some say the can not, some say she is not available and some have disconnected me. I can not afford to pay {$1300.00} a month and I am asking for some restructuring. I do not have the credit to refinance. My co signer does not have the money to make payments either. I am going to have to default on this debt in order for the interest to stop and so I can finally pay down this debt with am monthly amount that I can actually afford. I recently joined a XXXX XXXX for support with Student Loans and Navient. There are some folks on there who are being very rude to customers who are venting and asking for private loan advice. One person who I believe works for Navient is named XXXX XXXX. It is not okay for Navient workers to be be demeaning and abusive to customers who are just seeking support and advice. I have sent screen shots of these conversations to XXXX XXXX XXXX my advocate. The XXXX XXXX is called Navient XXXX XXXX XXXX. It is a public group with XXXX members. You will see some very rude comments from XXXX XXXX or also XXXX XXXX. This should not be allowed. In addition, I received in the mail a few pink padded bubble envelopes with the return address listed only as ” XXXX XXXX on the return label ( not Navient ) and a return address of XXXX XXXX XXXX, XXXX XXXX XXXX but nothing indicating it was from Navient. I opened it up out of curiosity and there was a letter from Navient indicating ” XXXX XXXX XXXX. ” I would have thrown that away normally not knowing that would have come from Navient. Would that not be classified as Deceptive? What is a XXXX XXXX partner? who is it? and won’t I be working with collections. This letter is basically a threat to sue. Is that legal? when I am trying to seek help? I can not afford to make any payments until XX/XX/2024. Stop harassing me. I have also been told different stories about different programs from many different representatives. No one can assist me at this point. There needs to be programs for folks who are on their own or whose circumstances have changed in life for them to be able to afford their loan payments. I do not want to default but I have no choice for now. I am asking for them to cease and desist all the phone calls from different numbers four to five times a day, Leave a voicemail for me and to not contact any of my family members looking for me. They have my valid phone number and I have been speaking with and emailing representative regarding my account.”


Complaint 8331422
2/12/2024
Georgia

“I have had accounts with this company for over 10 years and I have been making payments for 6 years on a {$20000.00} loan I took out over 10 years ago but now the loan is more than {$30000.00}. I have been making payments but the payments have never been going towards the interest. My monthly payments are constantly hundreds of dollars and it does not make a difference. They have never tried to work with me despite unemployment. They have contacted my co-signers despite my financial hardships even during the pandemic. I have a good income but not matter how much I make, these payments will continue to swallow all of my paychecks for another decade. I have not been able to get my loans refinanced. I filed bankruptcy in XXXX but it did nothing for this debt.”


Complaint 8083156
12/30/2023
Pennsylvania

“I am writing to file a formal complaint against Navient, the XXXX loan servicing company, regarding their persistent harassment and unfair practices in relation to my XXXX loans. My loans were originally with Navient but were subsequently refinanced with XXXX. The transition to XXXX was motivated by the need for a more flexible and reasonable repayment plan. However, despite the refinancing & lacking the ability to keep up with {$1500.00} – {$2000.00} a month payments, Navient continues to harass both myself and my immediate and extended family members, creating undue stress and hardship for us. I refinanced my XXXX loans with XXXX as Navient was unwilling to collaborate on establishing a livable monthly payment plan. Navient insisted on exorbitant monthly payments exceeding {$2000.00} for private loans alone, despite the knowledge of my concurrent federal loans. This lack of cooperation and consideration has compelled me to seek a more reasonable arrangement with XXXX. The primary issue I am reporting involves the relentless and intrusive communication from Navient. They contact not only me but also my family members, including my parents, aunts, uncles, great aunts, great uncles, and cousins, multiple times daily. Despite my numerous requests for them to document my concerns and desist from this harassment, Navient has not only failed to comply but has also continued to propose unattainable monthly payment plans and forbearance options. These proposed solutions not only fail to address the underlying issue but also risk exacerbating my already substantial debt by incurring additional unlivable interest. Furthermore, I have expressed the impact of this incessant harassment on my parents ‘ declining health conditions, and yet Navient remains unresponsive to my pleas for a reasonable and amicable resolution. Their refusal to cease communication with additional parties not listed on file, beyond myself and my cell phone number, is both intrusive and inappropriate. I am left with no choice but to inform Navient of my intent to report and pursue legal action against them for harassment and unfair practices. Despite this, their persistence in their actions continues unabated. I kindly request that the Consumer Financial Protection Bureau conduct a thorough investigation into this matter and take appropriate action against Navient for their violation of fair debt collection practices. I believe that my rights as a borrower are being egregiously disregarded, and I trust that the Bureau will intervene to rectify this situation. Thank you for your attention to this matter, and I look forward to a swift resolution.”


For a full list of complaints made against Navient Solutions, LLC in the CFPB’s Consumer Complaint Database, click here.

NaviRefi Lawsuits

NaviRefi has not explicitly been named in any lawsuits since the program’s launch in 2018.

Navient Lawsuits

NaviRefi has not been directly implicated in several ongoing lawsuits filed against its servicer, Navient Solutions, LLC. This includes the September 2020 filing of Villalba v. Navient Et. Al. and multiple ongoing civil suits facilitated by the Consumer Financial Protection Bureau; these actions allege repeated violation of state and federal consumer protection laws. Navient is also subject to multiple class action suits.[1][2][3]

The U.S. Department of Education ended its contract with Navient as of December 2021. Future legal action is likely.[4][5]

Note that while this information is updated regularly, ongoing legal action is subject to change.


Frequently Asked Questions

These are the most common questions consumers have about student loan refinancing with NaviRefi.

  • Is NaviRefi good for refinancing student loans?
    NaviRefi may be a good option for current Navient customers and for borrowers who want to keep certain protections, such as deferment for a return to school.
  • Does NaviRefi have a minimum credit score requirement to refinance student loans?
    NaviRefi does not disclose a minimum credit score to qualify for student loan refinancing.
  • Are NaviRefi loans federal?
    NaviRefi loans are not federal. NaviRefi has no affiliation with the federal government or the U.S. Department of Education.
  • Does NaviRefi charge a prepayment penalty?
    It is unclear as NaviRefi does not disclose this information.
  • Does checking your rates with NaviRefi hurt your credit score?
    Yes, checking your rates with NaviRefi may impact your credit score. Refinancing with NaviRefi is invitation-only; borrowers who receive an invite may assume they have already prequalified. If you proceed with an application, NaviRefi will perform a hard credit check that may affect your credit score.
  • Is NaviRefi a bank?
    No, NaviRefi is not a bank nor is it affiliated with any bank. NaviRefi is a student loan refinance program under Navient designed for the lender’s existing customers.
  • Can I refinance a NaviRefi loan?
    You can refinance a NaviRefi loan, Navient student loan, federal loan, or a student loan from another private lender. There is no limit to the number of times a borrower may refinance with NaviRefi. Note, however, that every new line of credit requires a hard credit check that may affect your FICO score.
  • Can I refinance just some of my loans with NaviRefi?
    Yes, you can refinance some, all, or just one of your qualifying student loans with NaviRefi. You may choose to refinance your private loans only or refinance private and federal loans together.
  • Can I refinance loans that have already been refinanced?
    Yes, you can refinance loans as many times as you want with NaviRefi. Note that each time you refinance, you will have to submit a new application; every application requires a hard credit check that may affect your credit score.
  • Can my spouse and I refinance our loans together with NaviRefi?
    No, NaviRefi does not generally allow spouses to combine debt except in some cases where a borrower owes educational loans on behalf of a spouse.
  • How long does it take to refinance with NaviRefi?
    NaviRefi does not disclose a timeline, but borrowers may expect refinancing to take between 5 and 15 weeks. The first payment will be due 25-60 days after the disbursement date.
  • Who services NaviRefi refinance loans?
    Earnest Operations LLC and Navient Solutions LLC finance and service refinance loans from NaviRefi.
  • Does NaviRefi offer a grace period?
    No, NaviRefi does not offer a grace period.
  • How often do variable rates change?
    NaviRefi updates its variable interest rates on the 1st of each month according to the 30-day SOFR as published by the Federal Reserve Bank of New York on the 25th day (or the next business day) of the preceding calendar month and rounded to the nearest 0.01%.
  • Can I get any special rates or discounts with NaviRefi?
    NaviRefi offers a 0.25% rate reduction to borrowers who enroll in automatic payments.
  • What happens if I file for bankruptcy?
    NaviRefi loans may not be discharged by a bankruptcy filing. NaviRefi honors the automatic stay of the Bankruptcy Court and ceases collection efforts against that person while the automatic stay is in place.
  • Does NaviRefi partner with any major student refinance lender marketplaces?
    NaviRefi does not appear to partner with any major multilender marketplace.

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Sources

  1. Consumer Financial Protection Bureau, CFPB Sues Nation’s Largest Student Loan Company Navient for Failing Borrowers at Every Stage of Repayment
  2. Legal Services Center of Harvard Law School Project on Predatory Student Lending, VILLALBA V. NAVIENT
  3. NavientClassAction.com, Navient Class Action Information
  4. Forbes, Navient Ends Student Loan Contract – Here’s What It Means for Your Student Loans
  5. Reuters, Navient Must Face Broad Borrower Lawsuit Over Payment Allocation
  6. NaviRefi Front Page