School Ombudsman Corner
Robyn directs all activity associated with the strategic support of our loan servicing relationships with schools across the U.S.
The office of the School Ombudsman continues to enhance Navient school relationships through day-to-day contact, regional conference attendance, and proactive communication. Our online tools and resources can assist you with counseling borrowers and using the data and reports available in our School Servicing Portal (SSP).
Highlights for the upcoming quarter include continuing to help schools with information and answers to questions pertaining to
- IRS-DRT tool issues
- NSLDS reporting
- Navient portfolio detail reports
- Proposed new state level regulatory changes on school disclosures to borrowers
We are also facilitating sessions at several regional higher ed association conferences, including Transitioning Your Students Into Loan Repayment and Measuring the Financial Health of Young Adults.
We continue to take every opportunity to encourage schools to reference the in-depth content available on StudentAid.gov.
It was great to meet and speak to so many of you at the WASFAA and EASFAA regional conferences. My colleague Steve Wynne and I will be attending and presenting at several upcoming financial aid conferences, including NASFAA in San Diego, MASFAA in Dayton, Ohio and ED-FSA in Orlando. Please keep an eye out and stop by our table to say hello!
As the academic year winds down, Navient has important information for your financial aid office, your students, and your alumni.
Federal Direct Student Loan 2017-2018 Interest Rates
We are happy to share our new web content and updated chart highlighting the new Federal Direct Student Loan 2017-2018 Interest Rates. Both include timely and useful information for your student borrowers and staff, including:
Help Students Gain Control of Their Money & Finances
Replay our most recent school webinar
Our most recent webinar for financial aid staff provided an overview of recent enhancements to the Navient borrower website and showcased repayment tools and resources. If you weren’t able to attend, or want to review what was covered, the presentation and the recording are available on Navient.com/Schools. Our next webcast will be in September, so be on the lookout for more information.
Managing Successful Student Loan Repayment
Review our most recent borrower webcast
On March 22, 2017, Navient hosted three nationwide webcasts for federal borrowers, providing guidance on federal loan repayment options. Click to access the presentation and the recording
We also utilized content from studentaid.gov and our Overview of Direct Loan and FFEL Program Repayment Plans. Navient is planning our next borrower webcast for June 21, 2017 titled Gain Control of Your Loans, Money & Finances and September 20, 2017 on Leaving Grace/Entering Repayment.
What's new on Navient.com for borrowers?
We continue making enhancements to provide borrowers with a simple and compelling online account-management experience.
In April, we added new pages under Tools & Requests. Shown below, the new pages include an improved Interest Accrual Estimator calculator, enhanced Servicemembers Civil Relief Act information and a new Authorization to Release Information form. We’ve also significantly refined our template for printable account information.
Interest Accrual Estimator
Servicemembers Civil Relief Act
Updates | Legal actions
In January 2017, the Consumer Financial Protection Bureau and two state attorneys general (Illinois and Washington) filed legal claims against Navient, in part, asserting servicing standards that are inconsistent with U.S. Department of Education regulations.
We realize your staff and borrowers may continue to have questions about recent allegations brought against Navient. We want to make sure you have the answers and information you may need.
The suits improperly seek to impose penalties on Navient based on new servicing standards applied retroactively and only against one servicer. The cases have not yet been ruled upon.
These allegations are unfounded and designed to get headlines rather than help student loan borrowers. We are vigorously defending against these unsubstantiated claims, and we will not be distracted by them. Our core goal remains the same: to help our borrowers achieve financial success.
The terms of your students' loans remain the same. Borrowers should continue making payments on all Navient-serviced loans as usual. We remain available to help borrowers online, by email, and by phone. You and your staff also can continue to contact us and access our resources, just as you always have.
Read more, with details on the allegations and our perspective on each one.
Financial Aid Office and Borrower Services
You play a critical role providing valuable information to your student borrowers about their loans and strategies for successful repayment. As a federal loan servicer, we are dedicated to supporting you and helping your borrowers along the path to financial success. Below are highlighted resources we provide to meet the distinct needs of your office and students. Click through to learn what we can do to help you stay updated on your Navient-serviced loans.
Servicing contact information
Providing assistance with borrower-related issues/repayment counseling, enrollment updates, and guidance with our online reports, Monday – Thursday 8 am – 9 pm ET and Friday 8 am – 8 pm ET.
Providing technical support, Monday – Friday 8 am – 5 pm ET, for monitoring of your electronic file exchange, report delivery, and our school servicing portal navigation.
Providing schools with information and solutions to support your delinquency management initiatives and drive your successful portfolio analysis.
Providing answers to borrowers’ questions regarding the Servicemembers Civil Relief Act and other military benefits. Monday – Thursday 8 am – 9 pm ET and Friday 8 am – 8 pm ET.