YOU DESERVE A GREAT RATE ON YOUR STUDENT LOANS.

Depending on how you wish to refinance your loan, your monthly payment and the total amount you pay over the life of your refinanced loan may be higher or lower than they otherwise would have been had you not refinanced your loan.

For example, if your financing objective is to lower your monthly payment, the term of your loan may be extended, which may result in a higher overall repayment amount. On the other hand, if your financing objective is to lower the aggregate amount of your payments over the life of your loan, you may end up with a higher monthly payment due to a shorter payment term.

The total estimated life-of-loan savings figure of $103,431,578 is based on a study we conducted of all refinance loans originated between 02/21/2018 and 02/21/2019 for which the underlying loan data was available.

In this study:

• The average estimated life-of-loan savings figure per borrower is [$6,800], which represents a savings of [16.5%] of the average life-of-loan cost of the underlying loans at the time refinancing occurred;
• the average original balance of the loans at the time refinancing occurred was $41,041;
• we included borrowers who selected refinance loan repayment periods long than their original loan repayment period, as well as shorter than their original loan repayment period;
• we included both fixed and variable rate loans, using the rate in existence at the time of the study, and assuming that rate would continue in effect for the duration of the loan;
• we assumed that all payments would be made on time;
• we assumed that any rate incentives in place at the time of refinancing (e.g., Auto Pay discount, timely payment discount, etc.) would remain in place for the duration of the loan;
• we assumed that no prepayments would be made on the loan;
• for each borrower whose underlying loan data was available, calculations were made as follows: (a) the anticipated principal and interest to be repaid on the original loans over the remaining repayment period had these loans not been refinanced, using a weighted average (based on loan amount) repayment period and a weighted average interest rate as of the date the loan was refinanced, minus (b) the anticipated principal and interest to be repaid on corresponding refinance loan, using similar weighted averages; some cases the calculation resulted in a negative number, meaning these borrowers would be expected to experience increased costs as compared to not refinancing their loans; and
• the total estimated savings figure is the sum of all calculations in the study; estimated increased borrower costs reduced the total estimated savings figure.

NaviRefi loans offer the opportunity to refinance student loans at competitive rates based on an applicant’s credit and financial profile. NaviRefi loans are offered by Earnest Operations LLC ("Earnest") and serviced by Navient Solutions, LLC ("Navient").

Founded in 2013, Earnest is a leading financial technology and education finance company who serves financially responsible, digitally native consumers. In 2017, Earnest joined the Navient family of companies.

NaviRefi.com is the website where customers can apply to simplify their student loans by refinancing them at a lower interest rate. NaviRefi.com is also where NaviRefi loan customers log in to manage their student loan accounts after the refinancing process is complete.

About Navient

Navient and its affiliates have been leading the student loan industry for more than 40 years, having relaunched under the Navient brand in 2014. We are one of the largest servicers and holders of federal and private student loans in the United States.

NaviRefi loans are designed to help our customers experience the rewards of their achievements along the path to successful loan payoff. We also want to ensure that hard-working adults can achieve their financial aspirations.

That’s why we offer our customers the credit they deserve – through a quick, easy, online experience supported by best-in-class servicing.

As the team with more than 4 decades specializing in the ever-changing student loan industry, we are happy to offer NaviRefi loans, a refinanced student loan that helps financially responsible people achieve their goals.

Learn more about Navient, its parent company Navient Corporation, and its affiliates on Navient.com