A veteran’s guide: Navigating student loans as a service member

The Military Benefits team is a highly skilled group of customer care professionals who assist service members with the benefits uniquely available to them.
  • Lower interest rate caps: The Servicemember Civil Relief Act (SCRA) limits interest on student loans obtained prior to military service to 6 percent and waives any fees for eligible service members. Most service members already receive the SCRA benefit automatically, and our dedicated military team is ready to answer any questions.
  • Ability to defer payments during special assignments of active duty: During active-duty, if the military service is in connection with a contingency operation, national emergency, or war, service members may be eligible to defer their payments during that timeframe.
  • Potential for Public Service Loan Forgiveness (PSLF): Customers in qualifying public service positions, such as service men and women, can have the remainder of their Federal Direct Loans forgiven after they’ve made 120 qualifying payments (10 years of payments under certain plans). Customers who borrowed in 2010 or earlier under the Federal Family Education Loan Program may also pursue PSLF if they consolidate their loans into Direct Loans.
  • Option for no-interest accrual: If military borrowers are deployed in a hostile zone and qualify for special pay, they may be eligible to have no interest accrued during deployment.
  • Flexibility on required documentation: The HEROES Act allows active-duty military to be exempt from certain documentation requirements that require updated information on family size and income to stay in a repayment plan. On active duty, this option can be critical to staying on track with payments without the hassle of new paperwork.

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Navient helps its clients and millions of Americans achieve financial success through services and support.

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Navient

Navient

Navient helps its clients and millions of Americans achieve financial success through services and support.

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