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NaviRefi Student Loan Refinancing Review

By Mentor Staff | Edited By Mentor Staff

Updated On September 5, 2023

Editorial Note: This content is based solely on the author's opinions and is not provided, approved, endorsed or reviewed by any financial institution or partner.

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NaviRefi, which is part of Navient, is one of most well-known lenders. With NaviRefi, you can refinance both federal and private student loans. NaviRefi is best for borrowers with good to excellent credit who want flexible student loan terms. NaviRefi loans are made through Earnest, a top lender which is part of the Navient family of companies.

In this NaviRefi student loan refinancing review, we will discuss:

Best For: NaviRefi is the right choice for borrowers who want to customize their student loan repayment so they can pay off student loans faster.

Pros:

  • Customize your student loan payments and loan terms.
  • Fast approval process.
  • No late fees.
  • Ability to skip one student loan payment every 12 months.
  • Refinance even if you have an incomplete bachelor’s or associate’s degree 

Cons:

  • Student loan refinancing not available in Kentucky and Nevada.
  • No option to apply with a cosigner.

NaviRefi is a leading, innovative student loan lender based in San Francisco. NaviRefi allows you to choose your own student loan interest rate matched to your loan term. NaviRefi also offers industry-leading repayment flexibility on its student loans. For example, you can choose your exact minimum monthly payment and student loan terms. You can also increase your payments and make extra payments to pay off your student loans faster.

NaviRefi prefers borrowers with a history of financial responsibility, stable income and minimal credit card or personal loan debt. NaviRefi’s underwriting process evaluates more than your credit score. NaviRefi also incorporates savings, education and earnings potential.

Advantages of Refinancing With NaviRefi

Here is what we like about NaviRefi student loan refinancing:

  • Customize your student loan payments and loan terms.
  • You can choose to make bi-weekly payments to save money on interest.
  • You can increase your payment anytime to pay off your student loans faster.
  • You can skip a payment and make it up later.
  • NaviRefi looks beyond credit score to approve you for student loan refinancing, and will incorporate savings, education and earnings potential.

Drawbacks of Refinancing With NaviRefi

NaviRefi can improve in these key areas:

  • Expand student loan refinancing to all 50 states.
  • Allow borrowers to apply with a cosigner.

Is NaviRefi student loan refinancing right for you?

NaviRefi has an excellent reputation and is a trusted student loan refinancing leader. NaviRefi caters to borrowers with good to excellent credit and high income. The average NaviRefi member earns enough income to pay student loans, other debt obligations and monthly living expenses. 

Finally, NaviRefi wants to ensure that you make all your student loan payment each month on-time, and do not have any delinquencies or bankruptcies. NaviRefi members need to have a strong financial and credit profile, since you can’t apply with a co-signer.

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