If you’re wondering if Sallie Mae Navient Forgiveness exists, you should first understand a little more about the lender. Sallie Mae is a name that is ubiquitous within the student loan industry, and rightfully so. Beginning with a head start as a government organization that converted to a private organization, Sallie Mae and now Navient dominate the private student loan market. Sallie Mae Navient Forgiveness Long before they split into two companies, Sallie Mae was the subject of many regulatory lawsuits . It did not take Navient too long to also fall under scrutiny and become the subject of multiple state and federal regulatory actions which are still ongoing. Chances are, if your private loans were originated by Sallie Mae, they are now more than likely serviced and held by Navient – but as with all private loans there are exceptions to every rule and trend, and lenders try new strategies on a fairly regular basis.

Sallie Mae does not offer any traditional “forgiveness programs” for private student loans, except for very rare cases such as the Career Education Corp fallout which, unlike other for-profit college regulatory lawsuits, dealt primarily with private loans. In that ruling, it was Career Education Corp itself that is responsible for the forgiveness payments of the private loans borrowers took out. Sallie Mae, and it’s sister company Sallie Mae Navient Forgiveness do sometimes offer settlements under certain conditions. However, borrowers attempting to settle on their own often run into issues with aggressive debt collectors, not knowing what stage of the collection cycle to maximize the savings of a settlement while minimizing risk; and making common mistakes like opening up with the offer that you want to settle for or disclosing too much about personal finances.

In 2014, Sallie Mae “spun off” or split into two companies. Navient would handle most of the servicing for federal loans and origination plus servicing for private loans, while Sallie Mae themselves became an FDIC insured bank (and thus the end of Sallie Mae Navient Forgiveness as a government-backed guarantor). However, not all loans were transferred to Navient – Sallie Mae still retains some. I still run across these and settle them from time to time when we do see the rare SLM loan that was not transferred to Navient (more on this later). This is very rare. For instance, I have come across this about 3 times in the last 2 years.

In my opinion, a big reason for them splitting into two companies was to re-brand and get past some of the baggage that they were associated with. Unfortunately for them, it didn’t take long for their new subsidiary/spin-off Sallie Mae Navient Forgiveness to develop a negative reputation of their own, as both a consistently negatively ranked federal loan servicer; and a private loan lender with few options whose loans appear to never go down for many borrowers, despite on-time and even additional payments.

This was not the typical kind of partnership between two student loan companies – the easiest way to describe it as that Sallie Mae split into two separate companies – sort of like cell mutation. The CEO for Sallie Mae previously was Jack Remondi. Guess who the CEO for Sallie Mae Navient Forgiveness is now?

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