Asked by Elaine  |  Submitted August 31, 2015

Does the Obama student loan help, I think it is called Navient, really help in lowering your monthly payments?

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  Answers  |  1

September 30, 2015

There's no such thing as the Obama student loan. What you're thinking of is income based repayment or Pay-As-You-Earn, which brings federal student loan payments to a percent of your adjusted gross income. At the end of 20 or 25 years (depending on which program you qualify for) the unpaid balance is discharged.

Navient is not a loan program, it's a student loan servicer. Student loan servicers act as the intermediary between borrowers and lenders. Servicers manage borrowers’ accounts, process monthly payments, manage enrollment in alternative repayment plans, and communicate directly with borrowers.

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