Federal Student Loans – FAFSA(How to Apply & Repayment) | Navient

As it becomes clear from the name, Navient Federal Student Loans are the financial advances taken from the government by the students for their education. Federal student loans are primo for those students whose households do not have the required financial strength to pay for their education particularly college fees. Set up by the legislature, and governed by the law, federal student loans provide innumerable benefits, which are not present in the private student loans. Hence, for a majority of the students, federal student loans are the first choice when it comes to seeking financial aid for higher studies.

How to Apply for Federal Student Loans
Federal Student Loans -Navient

Unlike private student loans, government student advances do not require any co-endorser. In case you have defaulted on repayment, federal student loans, provide far greater reimbursement and repayment options as compared to private student loans. Moreover, federal student loans do not demand from you to have a credit or salary and you have a significantly higher chance of obtaining Public Service Loan Forgiveness in the case of federal student loans. Hence, when in need, it is always better to go for federal student loans first. If, in any case, your federal student loan goes unapproved, then you can pursue private student loan options.

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How to Apply for Federal Student Loans

Following is the set of steps that you require following in order to apply for federal student loans for the education fee:

  • As a first, you require completing The Free Application for Federal Student Aid (FAFSA). FAFSA is a form completed by current and prospective college students in the United States to determine their eligibility for federal student aid. You can fill up the form at ed.gov.
  • Post providing the FAFSA, you receive a Student Aid Report. The Student Aid Report concentrates the information that you provided in FAFSA into an amount called a normal family commitment. The normal family commitment is the sum that, according to the administration, your family can pay by themselves.
  • Thereafter, you must get in touch with your educational institute’s money related guide office to acknowledge, accept, and know the budgetary guide and understudy credits.
  • Please note that you must acknowledge all the free guides first prior to taking federal advances. Moreover, you might not need a significant majority of the promoted credits. You can take help from your educational institute regarding turning down a creditor demanding a lower initial amount.
  • The schools that you have mentioned on your FAFSA will take into account your data from the FAFSA form and ascertain the measure of government awards, work-study, and advances for which you might meet all the criteria.
  • Next, the universities acknowledged by you will dispatch a budgetary guide grant letter to you. This letter details the money related guide you are eligible to receive. This includes government understudy credits, concedes, and work-think about.
  • Please note that the evaluation of federal help you get from each school can waver.

Various Forms of Federal Student Loans

Three types of Federal Student Loans exist. Please investigate each one of them before pursuing any one of the same.

  • Direct Subsidized Loans

These loans are for understudies with displayed money related requirement, as decided by the government. There are no intrigue charges while an undergraduate is in school at any rate half-time, amid delay, or amid the period normally a half year after your graduate or leave the educational institution.

  • Direct Unsubsidized Loans

These type of federal student loans do not base themselves on any kind of money related requirement. Your school will determine the sum you can get. The decision of the school relies on the expense of participation and other budgetary guides, which you receive. In the case of direct unsubsidized loans, intrigue is chargeable amid all periods and the same promotes in spite of you being in school, amid elegance, as well as postponement periods. This builds up the principal sum that you owe to the government.

  • Direct PLUS Loans

These are the same as Direct Unsubsidized Loans with the difference being that Direct PLUS Loans are the unsubsidized government advances for the guardians of the understudies.

Learn How to Repay your Federal Student Loan

There are three basic repayment plans as discussed below:

How to Repay your Federal Student Loan
Eligibility for Traditional Repayment Plans
Standard Repayment Plan

Standard plans last up to 10 years or if you have applied for a Loan Consolidation, then the standard plans might last up to 30 years. These plans boast a fixed monthly payment amount based on the total loan taken. Please note that over time you will pay less interest in the standard repayment plans as compared to other repayment plans.

Graduated Repayment Plan

Graduated payments are lower at first and after a certain period, generally after every two years, the number of monthly payment increases. It carries the same repayment term as the standard repayment plans.

Extended Repayment Plan

Under extended repayment plans, you can enjoy the provision of up to 25 years to repay your loans. These plans are available to borrowers with more than $30,000 in Direct Loan balances or $30,000 in FFELP Loan Balances.

What are Income-Driven Repayment (IDR) Plans?

You can also apply for an Income-Driven Repayment Plan to manage your federal student loan payments. You can learn more about IDR and the eligibility conditions on the FSA Website. Under the Income-Driven Repayment Plans, you can reduce your monthly payment to as low as $0. Please note that annual renewal is required for the IDR Plans. Under the annual-renewal, you recertify your plan by providing income certificate and the family size certificate as well. Please note that if you happen to skip the deadline for the annual renewal, unpaid accrued interest adds to the unpaid Principal Amount.

Income-Driven Repayment (IDR) Plans federal student loans
Income-Driven Repayment (IDR) Plans federal student loans

Can you opt for Federal Student Loans Consolidation?

If you happen to pay multiple federal student loans, you can opt for Federal Student Loan Consolidation to reduce your monthly burden.

  • By availing a Direct Consolidation Loan, you cut down your installments to one basic installment each month. Moreover, your reimbursement period can extend up to 30 years if you happen to opt for Direct Consolidation of multiple federal student loans.
  • You can apply online for the Loan Consolidation program at gov. Otherwise, you can also download the application from the website and prepare to send the same via courier.
  • Please note that you cannot combine private understudy advances with the Federal Student Loans consolidation program.

Payment Postponement/Forgiveness Criteria for Federal Student Loans

Payment Postponement


Deferment is a period when you postpone making payments on your loan. For subsidized Federal loans, there are no accumulated interest charges. However, you do have to pay accrued interest on unsubsidized loans. You can opt for deferment under the following circumstances:

  • Education

You are eligible for a deferment if you study in an eligible school for at least half time or in a graduate fellowship program.

  • Military Service and Post Active Duty

If you are on active military service during a war, emergency, or a military operation, you can apply for deferment.

  • Economic Troubles

If you are facing a temporary bad phase in your financial condition or serving in the Peace Corps, you are eligible for a deferment up to 3 years.

  • Unemployment

If you are unemployed, or working less than 30 hours in a week, and seeking full-time employment, you are eligible for a deferment up to 3 years.

  • Rehabilitation Training Program

If you are enrolled in an approved rehabilitation program for the disabled, you might be eligible for deferment as well.


Under forbearance, you can avail temporary suspension or reduction in your monthly loan installments for a fixed period. Following are the types of forbearance.

  • General Forbearance

If you are facing temporary financial troubles due to change in employment, sudden medical expenses, or other situations, you can apply for general forbearance.

  • Mandatory Forbearance

You are eligible for mandatory forbearance if you are in medical or dental internship/residency, on National Guard active duty, or performing any other service that makes your eligible for forbearance under the Department of Defense Student Loan Repayment Program.

  • Student Loan Debt Burden Forbearance

This should be your last resort. Make sure you check for deferment or Income-Driven Repayment Plans first before coming to Student Loan Debt Burden Forbearance.

Payment Forgiveness

  • Teacher Loan Forgiveness

If you happen to be a teacher for five complete and consecutive years in a low-income elementary school, low-income secondary school, or an educational service agency you are eligible for Teacher Loan Forgiveness up to $5,000. You can also obtain Teacher Loan Forgiveness up to $17,500 if you meet the requirements of being a highly qualified teacher.

  • Public Service Loan Forgiveness

If you happen to be a government employee or working in a not-for-profit organization, the Public Service Loan Forgiveness can forgive the remaining balance of your Direct Loans after you have made 120 (10 years) qualifying monthly payments under an eligible repayment plan while working full-time.

  • Total and Permanent Disability (TPD) Discharge

Under the TPD Discharge, you will no longer require repaying your loans. Please provide the required information to the U.S Department of Education in order to avail a TPD Discharge.

  • Discharge Due to Death

In the event of the death of the borrower or the student, by providing documentation of death, discharge can be obtained from a federal student loan,

Final Words: Navient Federal Student Loans

This was everything regarding Navient Federal Student Loans. In case you still have any queries or questions to ask, please drop us, a note in the comments section provided below.

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