payments on a loan to Navient

“So you want to pay the principal payments on a loan to Navient. Here’s what can happen. If you try to send a principal only payment, you will have to pay the interest on the loan first before any principal is paid. Never talk to an agent, always ask for a manager. Based on my experience, I got inaccurate information from several different agents. When I tried to pay off my loan, I was given a pay off total and was told by one of the agents that it would wipe out a specific high interest loan. I called back and was able to talk to a manager. I was lucky I got a better payment arrangement.

I have three different loans from Navient. All these loans are linked together and they suggested it was a benefit to me as I would just send one payment for all three loans. The problem with this arrangement is that they would just split my payment to all loans. In my case, I talked with a manager to separate my loans. I now have a control over my loans. I also always ask for a confirmation of how they would apply my payment before sending them my payment. I also make sure that my payoff takes into account the days of interest that will take before I receive my confirmation letter. They compound the interest daily and it could add up really quickly.

We have control over Navient. I hope some people can learn from my story.”