NaviRefi Student Loans Review

NaviRefi offers refinancing exclusively to borrowers with Navient

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Investopedia’s Rating

Our Take

NaviRefi offers refinancing options to students with at least one student loan that is serviced by Navient. NaviRefi only offers loans via invitation, and requires a hard pull on your credit to see your rates. While the rates and terms are competitive, there may be better refinancing options available with other lenders.

  • Pros and Cons
  • Key Takeaways
  • Company Overview
Pros and Cons
  • Low rates for refinancing student loans

  • No origination, prepayment, or late payment fees

  • Loan terms from 5 to 20 years in length

  • Application process takes less than five minutes

  • Invitation-only to existing Navient customers

  • Navient has a poor reputation for deceptive lending practices

  • Requires hard credit inquiry to see rates

  • Cannot use a co-signer

Key Takeaways
  • NaviRefi offers student loan refinancing to existing Navient customers.
  • NaviRefi student loans are provided by another Navient student loans company, Earnest.
  • Refinances are available from $5,001 up to $500,000 in total loan balance
  • NaviRefi is a subsidiary of parent company Navient, which has settled numerous lawsuits tied to deceptive lending practices (with over $1.7 billion in debt cancellation).
Company Overview

NaviRefi is a student loan refinance company owned by Navient, a large student loan servicer. NaviRefi was founded in 2017 as a student loan refinancing company, offered as an extension of Navient. NaviRefi loans are originated by Earnest Operations LLC, which is another Navient student loan company.

NaviRefi refinance loans are available by invitation only. The lender accepts applicants with credit scores as low as 680, but requires a hard inquiry on your credit report to reveal your interest rate. Applicants must have received an invitation from Navient, and invites are only sent to existing Navient customers. 

NaviRefi is available in 49 states and Washington, D.C. It is not available to residents of Nevada.

  • Year Founded 2017
  • Official Website
  • Loans Offered Refinance
  • Customer Service Email. Phone: (844) 381-6621

NaviRefi Student Loans: Quick Look

Loan Type Variable APR* Fixed APR* 
Refinance  4.59%–7.99% 4.59%–8.99% 

*Including 0.25% autopay discount

See more options with our picks for the best student loan refinance companies. Or if you’re looking to fund your undergraduate or graduate education, browse the best student loans.

Pros Explained

  • Low rates for refinancing student loans: NaviRefi offers loans with rates as low as 4.59% for variable and fixed.
  • No origination, prepayment, or late payment fees: NaviRefi charges no origination fees on loans, and doesn’t charge any prepayment or late payment penalties.
  • Loan terms from 5 to 20 years in length: Loans can be 5, 10, 15, or 20 years in length, giving you flexibility with your monthly payment. Rates are lower for shorter-term loans.
  • Application process takes less than five minutes: NaviRefi advertises that loans can be approved in just three minutes, making the application process much shorter than most lenders. This is due to Navient already having relevant customer information when it sends an invite.

Cons Explained

  • Invitation-only to existing Navient customers: NaviRefi is only available to customers that currently have a loan being serviced by Navient.
  • Navient has a poor reputation for deceptive lending practices: Navient was recently dropped as a loan servicer for FedLoans, and had to discharge $6 billion in a settlement with over 200,000 borrowers.
  • Requires hard credit inquiry to see rates: While NaviRefi offers reasonable rates, you cannot see your rate estimate without a hard inquiry, which may impact your credit score.
  • Cannot use a co-signer: NaviRefi does not offer loans with a co-signer, which may make it harder for some individuals to qualify.

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 4.59%–7.99%
Fixed APR  4.59%–8.99% 
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. 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. 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.

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. 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.

This discount is not available to borrowers using the rate reduction program, described below.

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:

  • 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.

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. 

Navient, the parent company of NaviRefi, received 1,162 complaints in 2022 (out of 6,700,000 customers) according to the Consumer Financial Protection Bureau (CFPB).

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  4.59%–7.99%  5.24%–9.65%  5.99%–10.49% 
Refinance variable APR  4.59%–8.99%  4.99%–9.55%  6.87%–10.62% 
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 

Final Verdict

NaviRefi is a simple option for Navient customers to refinance their private or federal student loans. NaviRefi offers a quick application process and no loan origination, prepayment, or late fees.

Navient (the parent company) has a rocky history with lawsuits and deceptive lending practices, and you can’t see your rates without a hard credit pull. This makes it prudent to research alternate student loan refinancing companies as well.

Overall, NaviRefi is worth checking out if you’re looking to refinance and you get an invite, but we recommend shopping around before making a decision.

Many lenders offer refinance loans today, and some of them can beat NaviRefi’s rates. See the best student loan refinance companies to compare terms and find the best loan for you.


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Article Sources
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  1. NaviRefi. "Homepage."

  2. NaviRefi. "Am I Eligible to Refinance my Student Loans with a NaviRefi Loan?"

  3. NaviRefi. "Help & Questions: Getting Started & Applying."

  4. NaviRefi. "Help and Questions: Payments."

  5. NaviRefi. "Repayment Options: Grace Match."

  6. NaviRefi. "Repayment Options."

  7. Consumer Financial Protection Bureau (CFPB). "Report of the CFPB Education Loan Ombudsman," Page 32.