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||3.99%* – 8.99%|
|Variable Rates||4.46% – 9.46% (Undisclosed Cap)|
|Terms||5 to 20 years|
|Min. Credit Score||Undisclosed|
*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.
|Private student loans||✓|
|Private parent loans|
|Federal student loans||✓|
|Federal Parent PLUS loans|
NaviRefi Refinance Rates & Fees
NaviRefi fixed rates are between 3.99% and 8.99%. Variable rates are between 4.46% and 9.46%. Lowest rates include a 0.25% interest reduction for enrolling in auto-pay.
In 2022, NaviRefi has raised its lowest available fixed interest rate for new loans 63.5% (from 2.44% APR) and its highest fixed interest rate 48.8% (from 6.04% APR). Meanwhile, the lowest available variable rate is up 137.2% (from 1.88% APR) and the highest variable rate has increased 60.6% (from 5.89% APR).
Note that NaviRefi may offer more term lengths than those listed.
|Term†||Fixed Rate||Variable Rate|
|5 Year||3.99% – 8.34%||4.46% – 8.47%|
|10 Year||4.42% – 8.58%||5.59% – 9.16%|
|15 Year||4.74% – 8.95%||5.85% – 9.38%|
|20 Year||4.99% – 8.99%||6.18% – 9.46%|
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 unavailable 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 (3.75% 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.
Student Loan Refinancing Calculator
Based on advertised rates, use the calculator below to determine what your new monthly payment and potential savings may be if you refinance with NaviRefi.
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|
|Loan Origination Fee||None|
|Late Payment Fee||Undisclosed|
|Returned Payment Fee||Undisclosed|
- Application fee – fee to apply for rates & approval.
- Loan origination fee – fee to create the new loan.
- Disbursement fee – fee for distributing funds to lenders to pay off loans that have been refinanced.
- Prepayment penalty – fee for making extra payments to reduce a refinance loan balance or pay it off early.
- Late payment fee – fee for making a late payment.
- Returned payment fee – fee for failed payments due to insufficient funds, also known as a “bounced check”.
- 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: contingent (i.e., no degree is required if you left school within a certain time frame).
- Location Requirement: residents in 49 states (excluding Nevada) and the District of Columbia.
Additional restrictions apply for specific individuals and loans.
- Variable rates are unavailable in 16 states.
- California residents may refinance a minimum of $10,001; Kentucky residents who refinance $15,000 or less are limited to repayment terms of 10 years or less.
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.
|Returning to grad school||Deferment|
|Active military duty||Deferment|
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
“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
“hello I wanted to let you guys know that Navi-Refi does not know what they are doing at all. Now if you want to waste your valuable time and be on the phone with them regarding their errors over and over for weeks on end, then go with them…with me they pulled my loans-it sounded too good to be true as well as a great interest rate! fast forward, I log into my loans and some of them weren’t pulled. After call after call after call…from being told I must call Equifax and ask them why the loans aren’t on my report only to find that they are…fast fwd through all the other random confusion…now I am being told it was Equifax fault not theirs. I feel like it was a glitch in their system…now that I applied again the rates increased by over 1 point. they say all you can do is have 2 separate refinances through them…who wants to do that? RUN FAR AWAY” – helpfulinfo109u on reddit, 5/10/2018
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 March 1, 2012, consumers have submitted 37,364 complaints about Navient Solutions, LLC (Navient & NaviRefi) to the CFPB at an average of one (1) complaint every 2 hours and 24 minutes; this is nearly 525 times higher than the average daily complaint rate among reviewed lenders. Among 17,445 complaints with narratives, 472 or 2.7% specifically reference refinancing.
In 2022, Navient’s consumer complaint rate is 37.9% lower (as of this writing) than it is in an average year.
In 2021, Navient received 1,937 complaints, which is 44.7% lower than its average annual complaint rate. In the same year, consumers filed the equivalent of one (1) complaint for every $1.781 million of corporate revenue or 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.
Below we’ve included three (3) of the most recent complaints (as of this writing) in which the consumer consented to sharing their details.
“I am consumer, submitting this complaint against XXXX XXXX XXXX, and XXXX XXXX XXXX XXXX XXXX having received noticed that my Truth in Lending Act 15 U.S.C. 1602 credit card was suspended in violation of FDCPA 15 U.S.C. 1692e ( 4 ) The representation or implication that nonpayment of any debt will result in the… seizure… attachment, is lawful and the debt collector or creditor intends to take such action. The debt collector As a result of unfair and deceptive debt collection practice I have been unfairly treated and impacted negatively by parties relying on unauthorized consumer reporting to organizations such as XXXX. XXXX XXXX XXXX is a debt collector engaged in deceptive, unfair and unconscionable, unauthorized practices in violation of the fair debt collection practices. The organization has improperly used the term XXXX in conflict of the Fair Credit Reporting Act and the Equal Credit Opportunity Act. The debt collector alleges a debt of XXXX deceptive in violation of 15 USC 1666d ( 1 ) in absence of requested verification by authentication or verfied judgement Pursuant to 12 CFR 1016.15 ( a ) ( 1 ) I revoke the consent and direct debt collector ( s ), pursuant to FDCPA 1692e ( 1 ) ( 2 ) including XXXX XXXX XXXX, and XXXX XXXX XXXX XXXX XXXX to cease communication and desist use of personal information and any and all injurious negative information, as right to opt out. The report has impacted me negatively in 1692 ( a ) ( 1 ), as I have lost my job and unable to work due to suspension of consumer credit device issued by state of florida XXXX XXXX. XXXX was instructed to delete all my personal information in accordance to 15 U.S.C. 1681b ( a ) ( 2 ). XXXX XXXX XXXX is the original creditor. This is an attempt to collect a debt from a debt collector and any information obtained will be used for that purpose.”
“Municipal Services Bureau has been calling for over 3 years. The last time they called was Tuesday, XX/XX/XXXX the at XXXXXXXX XXXX, from the number XXXX. I inquired about their reference id # XXXX and it was to collect a debt from a man who does not live here and is not at all related to me. I owe no debt with them, and they have acknowleged that, but they continue to call often.”
“Called me at XXXX pm, asked their location stated she was in XXXX XXXX. I informed her that i live in XXXX and it is past XXXX. She continued the call and did not identify herself as a debt collector and just kept asking if i was me. She continually kept asking for my address after informing her it is after XXXX and i would be filing a complaint with the CFPB.”
For a full list of complaints made against Navient Solutions, LLC in the CFPB’s Consumer Complaint Database, click here.
NaviRefi has not explicitly been named in any lawsuits since the program’s launch in 2018.
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.
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.
Compare Student Loan Refinance Reviews
|UW Credit Union||B+|
|First Tech Federal||C|
|First Republic Bank||D+|
- Consumer Financial Protection Bureau, CFPB Sues Nation’s Largest Student Loan Company Navient for Failing Borrowers at Every Stage of Repayment
- Legal Services Center of Harvard Law School Project on Predatory Student Lending, VILLALBA V. NAVIENT
- NavientClassAction.com, Navient Class Action Information
- Forbes, Navient Ends Student Loan Contract – Here’s What It Means for Your Student Loans
- Reuters, Navient Must Face Broad Borrower Lawsuit Over Payment Allocation
- NaviRefi Front Page
- NaviRefi, Help and Questions
- NaviRefi, Repayment Options
- CFPB, Consumer Complaint Database
- Dun & Bradstreet, Business Directory: Navient Corporation
- Better Business Bureau, Search Businesses and Charities