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

As a U.S. Navy veteran, I’m fortunate to have seen and experienced first-hand what we celebrate every Veterans Day: the unrelenting determination and drive of the men and women who serve our country. This remarkable dedication to our country does not stop after military service is finished: veterans contribute their skills to improve all avenues of American life — from education and healthcare to energy and finance, and much more.

One of my priorities as I transitioned into civilian life was finding a company that welcomed and supported veterans — an issue that I’ve made a focus of my career. In my role at Navient, I work every day to support two related goals: ensuring our military customers have the support they need to navigate student loan repayment and fostering a military-friendly workplace.

The Military Benefits team is a highly skilled group of customer care professionals who assist service members with the benefits uniquely available to them.

At Navient, our Military Benefits team answers 6,550 calls and emails per month to help service members and their families understand the benefits and options they have available to successfully pay off their student loans, including:

  • 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.

Navient was recently awarded its fifth consecutive gold status as a 2019 Military Friendly Employer. We are a member of the Veterans Jobs Mission, a coalition of companies dedicated to hiring veterans, and have established a Veterans Resource Group to welcome and support veterans during their employment with our organization. In the hallways and in every meeting I participate in, I see this military-friendly atmosphere come to life.

This Veterans Day, I’m grateful for my fellow service men and women for all that they do in service to our nation. At Navient we’re committed to serving service members, veterans, and their families in any way that we can, today and every day.

For more information, visit our Military Benefits page dedicated to service members and their families.

Mike Maier is senior vice president of servicing support at Navient and a U.S. Navy veteran.

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

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