May 2017

School Ombudsman Corner

Robyn Hughes, School Ombudsman Navient

Robyn Hughes
School Ombudsman

SchoolOmbudsman@navient.com

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!

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Career Playbook Video Series

Download an overview of The Career Playbook Video Series

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Our interactive series helps your student borrowers manage finances

 
 

NAVIENT NEWS

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:

 
  • Rates for Federal Direct Student Loans disbursed July 1, 2017 through June 30, 2018
  • Federal Direct Loan repayment estimates
  • Historic interest rates from the past several years
  • Information about who sets interest rates for Federal Student Loans and average student loan debt
 
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Download our 2017-2018 interest rate chart.

 

Help Students Gain Control of Their Money & Finances

Replay our most recent school webinar

Help students gain control presentation

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

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Servicemembers Civil Relief Act

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Authorization

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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.

Download the updated Fact Sheet on Legal Action.


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.

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For your Financial Aid Office

We follow a proven process of corresponding and communicating with borrowers to share important information and guidance about their federal student loan status and repayment options. We also promptly contact borrowers with delinquent loans and clearly explain how and why they should reach out to us to discuss and resolve their issues. Schools can play an important role too, providing all borrowers with valuable information on their loans and strategies for successful repayment.

Details are highlighted below, with links to Navient.com/Schools.

Better Default Prevention-7 Steps, offers a step-by-step guide of practical, proven actions you can take to assist your office with effective default prevention.

Our Servicing Contact Information sheet has information on all federal servicers and for all Navient loan types.

Counseling Your Borrowers to Avoid Default is a comprehensive guide offering information and resources you can use to help your borrowers avoid delinquency and default.

Additional information and resources are available on our Counseling Borrowers page.


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For your borrowers

Our tools and resources can help your students focus on financial success and supplement your exit counseling content.

Managing Your Account Online has been updated to provide an overview of our secure borrower website, with explanations of how to register and access Navient accounts, keep up to date with account summaries, make payments, enroll in Auto Pay, and use our Help Center.

Our Borrower Contact Info Sheet is an overview every borrower needs, with contact information for Navient and other Federal Loan Servicers.

10 Things to Do Before You Make Your First Student Loan Payment has helped guide tens of thousands of borrowers along the path to successful repayment.

Money-saving tips for life offers guidance to manage everyday expenses.

Make a budget is an interactive tool to help set and track income and spending goals.

Set your financial goals is an interactive worksheet to calculate realistic timeframes for short- and long-term financial goals.

Our Path to Success series, free and accessible on any web-enabled device, features modules on a range of topics such as budgets, credit scores, military student loan benefits, student loan repayment options, and savings and investments.

Career Playbook, developed in partnership with expert and author Jim Citrin, offers 27 short videos on a variety of career topics, including job searches, interviewing, cultivating mentors, and negotiating salary.

More information for borrowers is available at Getting Started on Navient.com/Loan-Customers.


Servicing contact information

CollegeServ®

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.

Phone: 888-272-4665
CollegeServ@navient.com

 

Electronic Services

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.

Phone: 800-348-4606
ESNAVI@navient.com

School Ombudsman

Providing schools with information and solutions to support your delinquency management initiatives and drive your successful portfolio analysis.

Phone: 703-984-6665
SchoolOmbudsman@navient.com

 

Military Benefits

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.

Phone: 855-284-4879
MilitaryBenefits@navient.com