Any outstanding balance on your loan will be forgiven if you haven't repaid your loan in full after 20 years (if all loans were taken out for undergraduate study) or 25 years (if any loans were taken out for graduate or professional study).
When will Navient loans be discharged?
- Navient will discharge the remaining balance on more than 55,000 private Sallie Mae or SLM student loans with an average of $25,000 per borrower. Borrowers don’t need to take any action but will not notified by July 2022 that their loans will be discharged.
Is Navient forgiving student loans?
- While private Navient student loans aren’t eligible for Navient student loan forgiveness, there are some private student loan forgiveness options. This includes private loan assistance programs, like those offered to health care providers by the National Health Service Corps, as well as refinancing and negotiating lower monthly payments.
How to get Navient student loan forgiveness in 4 steps?
- Step 1: Download Forbearance Request Navient Forms Click Here to Download the Navient Forbearance Form Step 2: Complete The General Forbearance Request Form and Return to Servicer:
Is Navient loan settlement real?
- This is a very important question. Indeed, with the series of lawsuits against Navient, one might be tempted to ask whether they are real. The truth of the matter is that they are genuine. Navient is one of the biggest student loan servicers in the nation. So, these allegations cannot be coming from nowhere.
If you have not repaid your loan in full after you made the equivalent of 20 years of qualifying monthly payments, any outstanding balance on your loan will be forgiven. You may have to pay income tax on any amount that is forgiven.