Over the years Sallie Mae (and now Navient) has had a variety of “Rate Reduction” programs. Federal student loans are loans made through the William D. Ford Federal Direct Loan Program ("Direct Loans") or the Federal Family Education Loan Program ("FFEL Program" or "FFELP"). The tactics outlined below have helped numerous borrowers over the years and are still effective to this day. 9. I also was unable to refinance with any other lender, meaning I was pretty much stuck with the 10% interest rate from Navient. Visit our COVID-19 Student Loan Support Center. They gave me one month forbearance and refused any more. They eventually agreed to a Rate Reduction Program which sounds great, 1% interest and third of the payment for a few months. The only information I could find that might be similar was an offer made on Sallie Mae Smart Option Loans that debtors would “Receive a 0.25 percentage point interest rate reduction after making 12 consecutive on-time payments.” And additional 0.25 percent reduction was available if the loan was paid by automatic draft. I've found a few posts on r/personalfinance and here as well but I'm just wondering if anybody has the general guidelines for getting approved. I've been reading a lot about the rate reduction program for my Navient private loans. Not sure what type of loan you have? navient rate reduction program. This includes private loan assistance programs, like those offered to health care providers by the National Health Service Corps, as well as refinancing and negotiating lower monthly payments. Finally, Navient services various private student loans that were issued by multiple banks and credit unions, offering an optional cosigner release for creditworthy borrowers.One unique feature of Navient student loans is its asset recovery services. Options include: • National Emergency Forbearance • Extended Repayment • Interest-Only payment • Rate Reduction program As a Navient customer, you have payment relief options available to you no matter what type of loan you have. I had already filed complaints with state attorney general who is involved in a lawsuit against Navient … From June 2013 to August 2014 I was enrolled into the rate reduction program with 3% interest at 487 dollars a month. Contact Navient to discuss your best option for payment relief. Navient will pay $1.75 million to fund an independent organization that will educate borrowers who work in public service about the Public Service Loan Forgiveness program. Navient Rate Reduction Program. Get updates on payment relief and learn about options available for your type of federal loans. While private Navient student loans aren’t eligible for Navient student loan forgiveness, there are some private student loan forgiveness options. Before enrolling in the rate reduction program my payments were to be $800.xx something. While the name hasn’t changed, the rules seem to vary from borrower to borrower. With a fixed interest rate student loan, your interest rate will stay the same so long as your student loan is outstanding - regardless of interest rate movements (up or down). ... Rate reduction program: Borrowers who experience difficulty making full payments may qualify for a reduced interest rate for six months. Navient is a servicer for federal and private student loans that was once part of Sallie Mae. 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