Your repayment options for your student loans with Navient depends on whether Navient is servicing your federal student loans or private student loans.
Federal student loans
If you need a lower payment for your federal student loan, check your eligibility for a lower monthly payment based on your income.
Those plans include:
the Revised Pay As You Earn Plan
the Income-Based Repayment Plan and
the Income-Contingent Repayment Plan
Those payment plans will look first to your discretionary income to determine your payment amount.
Your discretionary income is based on your adjusted gross income and your family size.
If your income is currently lower than what was reported on your tax return, you can use alternative documentation of your income like a pay stub or, if you’re self-employed, a letter stating your gross income.
Related: How Do You Pay a Student Loan When You’re Self-Employed?
Private student loans
When you can’t afford your private student loan payments, check to see if you have any available deferment or forbearance time. This will give you time to figure out a more permanent solution without damaging your credit history with late payments.
From there, the next step is to see what repayment options you have available to you.
Most private lenders offer an interest rate reduction program for a short period (6-18 months).
A handful of lenders offer income-based repayment options.
To find out your options, contact the student loan servicer for your loans.
Related: Should I Hire a Student Loan Consultant