Home Student Loans Review NaviRefi Student Loans Review – Loan Rate, Eligibility, Repayments, Application, Pros and...

NaviRefi Student Loans Review – Loan Rate, Eligibility, Repayments, Application, Pros and cons

NaviRefi Student Loans, offered by NaviRefi, provide an opportunity for borrowers to regain control of their finances through refinancing. In this article, we will conduct a thorough review of NaviRefi Student Loans, exploring their features, benefits, application process, and how they contribute to helping borrowers navigate the complex terrain of student loan repayment.

NaviRefi is a subsidiary of Navi, a leading student loan servicer that assists borrowers in managing and repaying their student loans. NaviRefi focuses on refinancing existing student loans, providing borrowers with a chance to secure better interest rates and repayment terms.

Key Features and Benefits

NaviRefi Student Loans come with a range of features and benefits that can positively impact borrowers’ financial situations:

  1. Competitive Interest Rates: One of the primary attractions of NaviRefi is its competitive interest rates. Refinancing can lead to potential interest savings over the life of the loan.
  2. Simplified Repayment: Refinancing multiple loans into a single loan with NaviRefi can streamline the repayment process, making it easier to manage and track payments.
  3. Flexible Repayment Plans: NaviRefi offers a variety of repayment plans, including fixed and variable rates, as well as different term lengths to suit individual financial goals.
  4. Cosigner Release Option: After meeting certain requirements, borrowers may have the option to release their cosigner from the loan, providing increased financial independence.
  5. No Origination Fees: NaviRefi does not charge origination fees, ensuring that borrowers don’t incur additional upfront costs.

Check: Credible Student Loans Reviews

Application Process and Eligibility

Applying for NaviRefi Student Loans involves several steps:

  1. Complete Application: Begin by filling out an online application, providing personal, academic, and financial information.
  2. Choose Your Loan: Review the loan options provided by NaviRefi, including interest rates, repayment plans, and terms. Select the one that aligns with your financial needs.
  3. Gather Documentation: Collect any required documentation, such as proof of enrollment, income, and loan statements.
  4. Loan Approval and Disbursement: NaviRefi will review your application and documentation. Upon approval, the funds will be disbursed to pay off your existing loans.

Considerations and Responsible Borrowing

As with any financial decision, responsible borrowing remains crucial:

  1. Understand Loan Terms: Thoroughly review and understand the terms, interest rates, and repayment options associated with the refinanced loan.
  2. Evaluate the Impact: While refinancing can offer benefits, it’s important to evaluate how it may impact the loss of federal benefits, like income-driven repayment plans.
  3. Compare Offers: Before committing to NaviRefi, compare its offers with those of other lenders to ensure you secure the best refinancing deal.

Pros and cons of NaviRefi student loans

NaviRefi may not be the right choice for everyone. Below are some of its most significant benefits and drawbacks.


  • Flexible repayment options: Borrowers who are struggling to afford payments have several repayment options.
  • No fees: Borrowers won’t have to worry about origination fees, prepayment penalties or late fees.
  • Low interest rates: NaviRefi offers competitive rates that can make borrowing less expensive compared to other lenders


  • By invite only: You can apply for a NaviRefi loan only if at least one of your student loans is already serviced through Navient.
  • Hard credit inquiry: When you apply, the lender performs a hard credit pull to provide you an interest rate quote. Other lenders offer prequalification, which involves a soft inquiry and won’t impact your credit.
  • Potential problems with the servicer: NaviRefi loans are serviced by Navient, which has faced multiple lawsuits in the past alleging that the company harmed borrowers.

Check Low Student Loan Rates

Student Loans Offered by NaviRefi

Student Loan Refinancing

NaviRefi only provides student loan refinancing through a private invitation from Navient. Unlike some lenders, NaviRefi offers loans to students who did not complete their degree.

Interest rates are reasonable, and the minimum amount required to finance is relatively low at just $5,001 ($10,001 in California).

NaviRefi does not allow co-signing on loans.

Terms for Refinancing Loans
Variable APR 5.65%–8.80%
Fixed APR 5.21%-9.28%
Loan amounts $5,001–$500,000
Loan terms 60–240 months

Loan Eligibility and Approval

To qualify for a student loan refinance with NaviRefi, you must meet the following eligibility requirements:

  • Provide an invitation code
  • Live in the District of Columbia or a state that NaviRefi lends in (all but Nevada)
  • Be the age of majority as defined by state of residence
  • Be a United States citizen or non-citizen permanent resident of the United States
  • Have attended a school that is eligible for Title IV federal student aid

There are also personal financial requirements considered as part of the application process:

  • Have a minimum credit score of 680, or 700 if you’re a non-graduate from a not-for-profit institution and your date of last attendance is longer than 6 years ago
  • Be employed or have sufficient income from other sources
  • Be current on your rent or mortgage payments
  • Not have a bankruptcy on your credit reports or accounts recently in collection

NaviRefi is invitation-only, meaning that it pre-screens applicants.2 That makes the application process much quicker. But you will be required to provide your personal information, income, and debt information, and NaviRefi will perform a hard credit pull.

Are Co-Signers Available?

Co-signers are not available for NaviRefi loans.3 Applicants must qualify on their own based on credit history, income, and other requirements.

Is Loan Pre-Qualification Available?

NaviRefi doesn’t offer pre-qualification, but applicants are existing Navient customers that are pre-screened and sent an invitation code. This does not mean all loan applications are automatically approved, but it does make the loan application process much quicker.

To check your estimated loan rates, you are required to submit a full application and NaviRefi will perform a hard credit pull, which may impact your credit score.

See also: Student Loan Refinance

Length of Time for Loan Approval and Disbursement

After the application is submitted online, NaviRefi will show if you are approved instantly. If approved, you will then select your loan details, and NaviRefi will reach out to your school to verify your enrollment.

For private student loans (not refinancing), school certification varies by school, and can take a few weeks before funds are disbursed. Some schools don’t certify until within a few weeks of classes starting, but others complete the processes within a fixed time frame. It is always best to apply as early as possible to ensure funds are available when needed.

Loan Fees and Repayment Options

Loan Fees

NaviRefi doesn’t charge origination, prepayment, or extra payment fees. There are also no penalties for late payments.1 But NaviRefi does not disclose whether there are fees for returned payments, collections, or even loan applications or disbursements (most lenders don’t charge for applications or disbursements).

Loan Discounts

NaviRefi applies a 0.25% discount if you set up autopay on your account. This is the only discount available, and the 0.25% discount is included in the advertised rates on the website

Repayment Options

NaviRefi has multiple repayment options, with multiple term lengths available.

  • Standard full payment: Refinanced loans typically follow a standard principal and interest repayment schedule, based on the loan term selected.
  • Deferred payment: NaviRefi offers deferment for certain circumstances, including going back to school at least half-time, military service, internship, residency, or fellowship programs. Deferment must be applied for and is approved on an individual basis.
  • Rate reduction program: NaviRefi offers lower payments for borrowers experiencing financial hardship. This allows for up to six months of lowered payments. This will increase the total time it takes to pay off the loan, and more interest will accrue. The 0.25% autopay discount is not available during the rate reduction program. You may need to have three on-time payments to be eligible for rate reduction.

NaviRefi also offers to match up to a nine-month grace period for recent graduates, though interest will still accrue, and you will need to apply for this program.


There are no rewards or sign-up bonuses for using NaviRefi.

Loan Forbearance and Discharge Options

NaviRefi offers several loan relief programs for borrowers in financial hardship:6

  • Skip-a-payment: NaviRefi’s partner loan origination company, Earnest, offers a skip-a-payment program, and NaviRefi offers a similar program. Borrowers can skip one payment every 12 months, though it increases payments slightly for the following 12 months. Accounts must have at least six months of on-time payments to qualify.
  • Forbearance: Borrowers can apply for forbearance but all applications are approved on an individual basis. Forbearance may temporarily stop or reduce payments, though interest will still accrue. Borrowers may apply if there is a sudden loss in income or other life event preventing the full payment of the loan each month.
  • Loan forgiveness and discharge: NaviRefi may offer student loan discharge due to a loss of life or permanent disability. Discharge or forgiveness must be applied for on an individual basis.

NaviRefi student loan requirements

If you’ve received an invitation to apply for a NaviRefi loan, you’ll also need to meet other requirements:

  • Age. You must be at least the “age of majority” — which is 18 in every state except Nebraska and Alabama, where it’s 19 — to apply for one of these loans.
  • Citizenship status. You must be a U.S. citizen or a noncitizen permanent resident.
  • Credit history: Your credit report should be free of recent collection accounts and bankruptcy filings.
  • Educational history: You must have attended a Title IV-eligible school or higher education institution.
  • Housing payments. You should be current on your monthly mortgage or rent payments.
  • Loan amount. You must refinance at least $5,001 in qualified education loans, or $10,001 if you live in California.
  • Location. NaviRefi loans are available to borrowers who live in Washington, D.C., and every state except Nevada and the U.S. territories. In certain states, variable interest rates are not available.
  • Strong financial standing. Navient will review your credit history, employment experience and income. You must have a minimum credit score of 680, or 700 if you didn’t graduate from a non-profit college and you last attended school more than six years ago.
  • Sufficient earnings. You’ll need to earn enough from your employer or another eligible source to make the loan payments.

Check also: Brazos Student Loans Review

Applying for a NaviRefi Student Loan

Applying for a NaviRefi student loan refinance can be done online or over the phone. You will need to submit your Navient referral code as well as personal and financial information. NaviRefi claims the process only takes about three minutes, though it may take you time to track down all of the information required.

Some of the information you will need to provide includes:

  • Personal details (name, address, email, etc.)
  • Social Security number
  • Educational background information
  • Current debt payments
  • Employment and non-employment income sources

NaviRefi will run a credit check before showing your interest rate, which requires a hard pull on your credit profile (which can affect your score). It’s recommended to have a credit score of at least 680–700 to be approved.

Alternative Choices

NaviRefi Laurel Road Discover
Loan types offered Refinance Refinance; refinance for medical professionals Undergraduate; graduate; parent; specialty loans
Refinance fixed APR 5.21%–9.28% 5.49%–11.24% 5.99%–9.99%
Refinance variable APR 5.65%–8.80% 5.24%–11.14% 7.37%–11.37%
Origination/administrative fee None None None
Repayment options Deferred; rate reduction; full payment Fixed payment; variable-rate payment Deferment; fixed; interest-only; full payment
Refinancing available Yes Yes Yes

Customer Service

NaviRefi offers simple help documentation on its website, though the information is sparse. Borrowers and applicants can also access support via email or over the phone at (844) 381-6621.

Customer support hours are Monday through Thursday from 8 a.m. to 9 p.m. Eastern Time, and Friday from 8 a.m. to 8 p.m. ET.

Read: Student Loan Calculator


NaviRefi Student Loans present a promising avenue for borrowers looking to alleviate the burden of student loan debt. With competitive interest rates, flexible repayment options, and a streamlined application process, NaviRefi empowers borrowers to take control of their financial future.
As you explore your refinancing options, remember to weigh the benefits against potential trade-offs, consider the impact on your overall financial situation, and make an informed decision that aligns with your goals. NaviRefi’s commitment to helping borrowers navigate the complexities of student loan repayment underscores the importance of accessible and tailored financial solutions.

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