正规的体育投注app

About Payments

Your payment may be allocated and applied differently depending on whether you have a federal or private loan, the status of your loan, and if you have multiple loans that are combined into one billing or loan group.

about payments hero

PAYMENT ALLOCATION

正规的体育投注appAllocation is how a payment is distributed across multiple loans. When you make a payment online, you can specify which loans you would like your payment allocated toward, including any Overpayment you might make.

正规的体育投注appYou can also instruct us to allocate payments differently for mailed payments. Clearly write your instructions on a separate piece of paper included with your check. We cannot process instructions written on the check or remittance slip.

Payment Application

Once we allocate a payment or a portion of a payment to a specific loan or loans, that amount is applied based on the terms of each loan's promissory note. Typically, it is applied first to Unpaid Fees, then to Unpaid Interest, and then to Unpaid Principal.

IMPORTANT REMINDER

If the payment doesn't satisfy the total payment due, including past due amounts, a late fee may be assessed (except on loans owned by the U.S. Department of Education), and the amount of interest paid over the life of a loan will increase. Past due amounts may be reported to the consumer reporting agencies.

Loans Owned by the U.S. Department of Education

Payments for Direct and FFELP Loans owned by the U.S. Department of Education

正规的体育投注appLearn how payments are allocated and applied to loans owned by the U.S. Department of Education.

First, the payment is applied to Unpaid Interest. Keep in mind that interest accrues daily.

Second, the payment is applied to the Unpaid Principal.

We will advance your payment due date by the number of full Monthly Payments that are covered by any Overpayment – unless you provide special payment instructions.*

View a payment example

正规的体育投注appFirst, the payment is applied to Unpaid Interest. Keep in mind that interest accrues daily. If your payment is past due, you should anticipate that your loan will accrue more interest than when payments are made on time.

正规的体育投注appSecond, the payment is applied to the Unpaid Principal.

We will advance your payment due date by the number of full Monthly Payments that are covered by any Overpayment – unless you provide special payment instructions.*

View a payment example

When you have multiple payments for similar loan types, we may group them together in a "Billing Group" so you will receive one consolidated statement for the loans in the Billing Group and can make one payment to cover them all.

正规的体育投注appYou may request that your loans be ungrouped so that you receive separate statements by calling us at 800-722-1300.

If you have multiple loans, we first allocate the payment among your loans and then apply the payment to your Unpaid Interest and Unpaid Principal as described below.

Payment allocation:

Unless you provide special payment instructions,* once the Total Amount Due has been satisfied for all loans being paid, any Overpayment will be allocated to your loan with the highest interest rate. If you have more than one loan in the Billing Group with the same highest interest rate, then the Overpayment will be allocated to any unsubsidized loan(s) being paid, prorated according to the Monthly Payment Amount. If loans with the highest interest rate are all subsidized, then the payment will be allocated to those loans prorated by the Monthly Payment Amount. If none of your loans have a Monthly Payment Amount, we’ll prorate by Current Balance.

Payment application order:

正规的体育投注appOnce a portion of the payment is allocated to each loan, we apply it in the following manner:

  • First, the payment is applied to Unpaid Interest. Keep in mind that interest accrues daily.
  • Second, the payment is applied to the Unpaid Principal.
  • We will advance your payment due date by the number of full Monthly Payments that are covered by any Overpayment – unless you provide special payment instructions.*

View a payment example

正规的体育投注appIf you have multiple loans, we first allocate the payment among your loans and then apply the payment to your Unpaid Interest and Unpaid Principal as described below.

Payment allocation:

Unless you provide special payment instructions,* the payment will be allocated first to loans with the oldest delinquency, prorated by the Past Due Amount for each loan by billing cycle. When all loans are at the same delinquency level, the payment will go to each loan in the Billing Group, prorated according to its Current Amount Due.

For residents of Colorado, Maine, New Jersey, New York, and Rhode Island, your Underpayment will be allocated to satisfy as many individual loan payments as possible, first to loans with the oldest delinquency, in order from lowest to greatest Past Due Amount by billing cycle. Any remaining amount will be prorated across loans that share the same age of delinquency that have not yet been paid.

Unless you provide special payment instructions,正规的体育投注app* with the exception of payments made by Auto Pay, once the Total Amount Due has been satisfied for all loans being paid, any Overpayment will be allocated to your loan with the highest interest rate. If you have more than one loan in the Billing Group with the same highest interest rate, then the Overpayment will be allocated to any unsubsidized loan(s) being paid, prorated according to the Monthly Payment Amount. If loans with the highest interest rate are all subsidized, then the payment will be allocated to those loans prorated by the Monthly Payment Amount.

Payment application order:

正规的体育投注appOnce a portion of the payment is allocated to each loan, we apply it in the following manner:

  • First, the payment is applied to Unpaid Interest. Keep in mind that interest accrues daily. If your payment is past due, you should anticipate that your loan will accrue more interest than when payments are made on time.
  • Second, the payment is applied to the Unpaid Principal.

Unless you provide special payment instructions,正规的体育投注app * we'll apply Overpayments to advance your due date by the number of payments you cover. Even when loans are paid ahead, your Auto Pay amount will always be equal to the total of the Monthly Payment Amounts for your loans in Auto Pay.

View a payment example

If you’d like to provide special allocation or billing instructions, you may do so one-time for each payment being made or update your profile to save payment directions for any qualifying payments you make in the future. You can change your saved directions at any time.

正规的体育投注appWays you can provide one-time allocation directions:

  • Use the "Specify for Each Loan" option when making a payment online to tell us how much you'd like to pay towards each loan.
  • Use the "Auto Allocate" option when making a payment online to tell us which method you’d like us to use to allocate your payment across your loans.
  • Send one-time instructions on a separate piece of paper when mailing your payment.
  • Tell our agents which loans you'd like to pay when making a payment by phone.

Ways you can provide saved allocation directions:

  • Update your profile and select the payment directions that work best for your goals.
  • Send instructions on a separate piece of paper when making your payment, telling us which of our available allocation options you'd like for us to save for future payments.
  • Tell our agents to save your preferred allocation option when making a payment by phone.

Ways you can provide one-time billing directions:

  • Select the billing direction of your choice when making a qualifying Overpayment online.
  • Send one-time instructions on a separate piece of paper when mailing your payment, telling us you want to be billed for your next, full monthly payment. For example, "do not advance my due date greater than one month with this payment".
  • Tell our agents whether you want to be billed for your next, full monthly payment when making an Overpayment by phone.

Ways you can provide saved billing directions:

  • Update your profile and select the payment directions that work best for your goals.
  • Send instructions on a separate piece of paper when making your payment, telling us if you want to be billed for your next, full monthly payment amount for any Overpayments you may make in the future. For example, "save my directions to never advance my due date greater than one month with any Overpayments".
  • Tell our agents to save your preferred billing direction when making a payment by phone.

Options to select from for saved Overpayment allocation directions:

Options to select from for saved Underpayment allocation directions:

正规的体育投注appOptions to select from for saved Overpayment billing directions:

  • Advance my due date by the number of payments I cover. Even if you have zero amount due on your billing statement, continuing to make payments will reduce your total cost of borrowing.
  • Bill me for my full Monthly Payment Amount. You will be required to continue making full Monthly Payments with your upcoming billing statements.

FEDERAL AND PRIVATE LOANS OWNED BY NAVIENT OR OTHER NON-GOVERNMENT LENDERS  

Payments for FFELP, HEAL, and Private Loans owned by Navient or other non-government lenders

Learn how payments are allocated and applied.

Payments are applied based on the terms of each loan’s promissory note.

正规的体育投注appFirst, the payment is typically applied to Unpaid Fees.

正规的体育投注appSecond, the payment is typically applied to Unpaid Interest. Keep in mind that interest accrues daily.

Third, the payment is applied to the Unpaid Principal.

If you have a FFELP loan in an Income-Based Repayment (IBR) plan, the payment goes first to Unpaid Interest, then to Unpaid Fees, and then to Unpaid Principal.

正规的体育投注appWe will advance your payment due date by the number of full Monthly Payments that are covered by any Overpayment – unless you provide special payment instructions.* For loans with a 16-digit account number, unless your loans are repaid through Auto Pay, an Overpayment less than your next Monthly Payment Amount will reduce the amount of your next payment due.

正规的体育投注appEven when loans are paid ahead, your Auto Pay amount will always be equal to the total of the Monthly Payment Amounts for your loans in Auto Pay.

View a payment example

Payments are applied based on the terms of each loan’s promissory note.

正规的体育投注appFirst, the payment is typically applied to Unpaid Fees.

Second, the payment is typically applied to Unpaid Interest. Keep in mind that interest accrues daily. If your payment is past due, you should anticipate that your loan will accrue more interest than when payments are made on time.

Third, the payment is applied to the Unpaid Principal.

If you have a FFELP loan in an Income-Based Repayment (IBR) plan, the payment goes first to Unpaid Interest, then to Unpaid Fees, and then to Unpaid Principal.

We will advance your payment due date by the number of full Monthly Payments that are covered by any Overpayment – unless you provide special payment instructions.* For loans with a 16-digit account number, unless your loans are repaid through Auto Pay, an Overpayment less than your next Monthly Payment Amount will reduce the amount of your next payment due.

正规的体育投注appEven when loans are paid ahead, your Auto Pay amount will always be equal to the total of the Monthly Payment Amounts for your loans in Auto Pay.

View a payment example

正规的体育投注appWhen you have multiple payments for similar loan types, we may group them together in a "Loan Group" or "Billing Group" so you will receive one consolidated statement for the loans in the group and can make one payment to cover them all.

正规的体育投注appYou may request that your loans be ungrouped so that you receive separate statements by calling us at 888-272-5543.

If you have multiple loans, we first allocate the payment among your loans and then apply the payment to your Unpaid Fees, Unpaid Interest, and Unpaid Principal as described below.

Payment allocation:

Unless you provide special payment instructions,* we will first allocate to your loans based on the Current Amount Due. If the amount of your payment exceeds the Current Amount due but is less than the Total Payment Due, the remainder of your payment will be prorated based on any Unpaid Fees. With the exception of payments made by Auto Pay, once the Total Amount Due has been satisfied for all loans being paid, any Overpayment will be allocated to your loan with the highest interest rate. If you have more than one loan in the Billing Group with the same highest interest rate, then the Overpayment will be allocated to any unsubsidized loan(s) being paid, prorated according to the Monthly Payment Amount. If loans with the highest interest rate are all subsidized, then the payment will be allocated to those loans prorated by the Monthly Payment Amount. If none of your loans have a Monthly Payment Amount, we’ll prorate by Current Balance.

Payment application order:

正规的体育投注appPayments are applied based on the terms of each loan's promissory note.

正规的体育投注appFirst, the payment is typically applied to Unpaid Fees.

正规的体育投注appSecond, the payment is typically applied to Unpaid Interest. Keep in mind that interest accrues daily. If your payment is past due, you should anticipate that your loan will accrue more interest than when payments are made on time.

Third, the payment is applied to the Unpaid Principal.

正规的体育投注appIf you have a FFELP loan in an Income-Based Repayment (IBR) plan, the payment goes first to Unpaid Interest, then to Unpaid Fees, and then to Unpaid Principal.

We will advance your payment due date by the number of full Monthly Payments that are covered by any Overpayment – unless you provide special payment instructions.* For loans with a 16-digit account number, unless your loans are repaid through Auto Pay, an Overpayment less than your next Monthly Payment Amount will reduce the amount of your next payment due.

正规的体育投注appEven when loans are paid ahead, your Auto Pay amount will always be equal to the total of the Monthly Payment Amounts for your loans in Auto Pay.

View a payment example

If you have multiple loans, we first allocate the payment among your loans and then apply the payment to your Unpaid Fees, Unpaid Interest, and Unpaid Principal as described below.

Payment allocation:

Unless you provide special payment instructions,*正规的体育投注app the payment will be allocated first to loans with the oldest delinquency, prorated by the Past Due Amount for each loan by billing cycle. When all loans are at the same delinquency level, the payment will go to each loan in the Billing Group, prorated according to its Current Amount Due.

For residents of Colorado, Maine, New Jersey, New York, and Rhode Island,正规的体育投注app your Underpayment will be allocated to satisfy as many individual loan payments as possible, first to loans with the oldest delinquency, in order from lowest to greatest Past Due Amount by billing cycle. Any remaining amount will be prorated across loans that share the same age of delinquency that have not yet been paid.

正规的体育投注appIf the amount of your payment exceeds the Current Amount due but is less than the Total Payment Due, the remainder of your payment will be prorated based on any Unpaid Fees. With the exception of payments made by Auto Pay, once the Total Amount Due has been satisfied for all loans being paid, any Overpayment will be allocated to your loan with the highest interest rate. If you have more than one loan in the Billing Group with the same highest interest rate, then the Overpayment will be allocated to any unsubsidized loan(s) being paid, prorated according to the Monthly Payment Amount. If loans with the highest interest rate are all subsidized, then the payment will be allocated to those loans prorated by the Monthly Payment Amount. If none of your loans have a Monthly Payment Amount, we’ll prorate by Current Balance.

Payment application order:

Payments are applied based on the terms of each loan’s promissory note.

First, the payment is typically applied to Unpaid Fees.

Second, the payment is typically applied to Unpaid Interest. Keep in mind that interest accrues daily. If your payment is past due, you should anticipate that your loan will accrue more interest than when payments are made on time.

Third, the payment is applied to the Unpaid Principal.

正规的体育投注appIf you have a FFELP loan in an Income-Based Repayment (IBR) plan, the payment goes first to Unpaid Interest, then to Unpaid Fees, and then to Unpaid Principal.

正规的体育投注appWe will advance your payment due date by the number of full Monthly Payments that are covered by any Overpayment – unless you provide special payment instructions.* For loans with a 16-digit account number, unless your loans are repaid through Auto Pay, an Overpayment less than your next Monthly Payment Amount will reduce the amount of your next payment due.

Even when loans are paid ahead, your Auto Pay amount will always be equal to the total of the Monthly Payment Amounts for your loans in Auto Pay.

View a payment example

If you’d like to provide special allocation or billing instructions, you may do so one-time for each payment being made or update your profile to save payment directions for any qualifying payments you make in the future. You can change your saved directions at any time.

正规的体育投注appWays you can provide one-time allocation directions:

  • Use the "Specify for Each Loan" option when making a payment online to tell us how much you'd like to pay towards each loan.
  • Use the "Auto Allocate" option when making a payment online to tell us which method you'd like us to use to allocate your payment across your loans.
  • Send one-time instructions on a separate piece of paper when mailing your payment.
  • Tell our agents which loans you'd like to pay when making a payment by phone.

Ways you can provide saved allocation directions:

  • Update your profile and select the payment directions that work best for your goals.
  • Send instructions on a separate piece of paper when making your payment, telling us which of our available allocation options you'd like for us to save for future payments.
  • Tell our agents to save your preferred allocation option when making a payment by phone.

正规的体育投注appWays you can provide one-time billing directions:

  • Select the billing direction of your choice when making a qualifying Overpayment online.
  • Send one-time instructions on a separate piece of paper when mailing your payment, telling us you want to be billed for your next, full monthly payment. For example, "do not advance my due date greater than one month with this payment".
  • Tell our agents whether you want to be billed for your next, full monthly payment when making an Overpayment by phone.

Ways you can provide saved billing directions:

  • Update your profile and select the payment directions that work best for your goals.
  • Send instructions on a separate piece of paper when making your payment, telling us if you want to be billed for your next, full monthly payment amount for any Overpayments you may make in the future. For example, "save my directions to never advance my due date greater than one month with any Overpayments".
  • Tell our agents to save your preferred billing direction when making a payment by phone.

Options to select from for saved Overpayment allocation directions:

正规的体育投注appOptions to select from for saved Underpayment allocation directions:

Options to select from for saved Overpayment billing directions:

  • Advance my due date by the number of payments I cover. Even if you have zero amount due on your billing statement, continuing to make payments will reduce your total cost of borrowing.
  • Bill me for my full Monthly Payment Amount. You will be required to continue making full Monthly Payments with your upcoming billing statements.

Account Number

正规的体育投注appThe primary identifier for an account at the customer level. It is a reference for all the loans associated with that customer.

Accrued Interest

正规的体育投注appInterest that has accrued during the prior Billing Cycle.

Approved Loan Amount

正规的体育投注appThe original amount of funds that were approved for the customer.

Approximate Daily Interest

To find out how much interest accrues daily, use this formula: (Unpaid Principal balance x Interest Rate) ÷ Number of Days in the Year = Approximate Daily Interest.

Approximate Interest Due

正规的体育投注appApproximate Daily Interest x number of days in your billing period = Approximate Interest Due.

Balance

The amount of debt still owed on an account.

Billing Cycle

正规的体育投注appThe period of time between the generation of billing statements. The Billing Cycle's start and end dates may or may not be the same as the Billing Period's start and end dates.

Billing Group

One or more loans that are combined in a grouping to allow customers to receive a single billing device and make a single payment for the respective loan(s).

Billing Period

The interval of time during which bills are prepared. The Billing Period start and end dates may not be the same as the Billing Cycle start and end dates.

Capitalized Interest

Accrued interest that has been added to the Unpaid Principal balance. Since the interest that is capitalized gets added to the principal, the customer will accrue interest on a higher balance.

Current Amount Due

The Monthly Payment Amount or the remainder of the Monthly Payment Amount if an overpayment was received in a previous Billing Cycle.

Current Balance

Unpaid Principal + Unpaid Interest + Unpaid Fees, if applicable.

Disbursement Date

The date when the Approved Loan Amount was paid to the borrower or school.

Disbursement Fee

A fee charged to the customer for the loan being disbursed. This is added to the loan amount at disbursement and is based on the borrower's or cosigner's credit history. Also known as an Up-Front or Front-End Fee.

Disbursed Principal

Original Principal less fees charged at time of loan origination.

Fees Assessed

The sum of the charges assigned in the prior Billing Cycle.

Last Payment Effective Date

The date the most recent payment was credited to the account within the last billing period.

Late Fee

A charge that is assessed if your payment is not made by the date presented on your billing statement to avoid such fee.

Loan Group

正规的体育投注appOne or more loans that are combined in a grouping to allow customers to receive a single billing device and make a single payment for the respective loan(s).

Loan Group Number

The numeric identifier utilized to distinguish a Loan/Billing Group.

Loan ID

正规的体育投注appThe numeric identifier utilized to distinguish an individual loan.

Loan's Outstanding Balance

正规的体育投注appCurrent Balance less the amount of an overpayment that has already satisfied the Past Due Amount and Current Amount Due (if applicable).

Monthly Payment Amount

The amount required each month to repay the loan according to the repayment schedule.

Monthly Payment

The amount required each month to repay the loan according to the repayment schedule.

Original Principal

The original approved loan amount.

Other Fees

A charge or charges assessed based on qualifying conditions that are disclosed on the promissory note.

Overpayment

The portion of a payment received in excess of the Past Due Amount + Current Amount Due + Unpaid Fees.

Past Due Amount

The remainder of monthly payment amounts from previous Billing Cycles that have not been satisfied by the customer (this does not include fees).

Previous Statement Balance

正规的体育投注appThe prior month's billing statement's "Current Balance".

Principal Reduction

正规的体育投注appThe amount of funds that have reduced the Unpaid Principal in the prior Billing Cycles.

Repayment Fee

正规的体育投注appA fee charged to the customer for entering repayment. It is a percentage of the principal balance after Unpaid Interest has been capitalized. Also known as a Back End Premium Fee.

Returned Check Fee

A charge that is assessed when a payment does not clear the bank for any reason, including insufficient funds, missing signature, or account closure.

Total Payment Due

正规的体育投注appPast Due Amount + Current Amount Due + Unpaid Fees. This is the amount the customer needs to pay in order to complete their repayment schedule by the projected date (by paying the fees, the remainder of the payment is the amount needed to satisfy the interest and/or principal- expected in the repayment schedule).

Underpayment

正规的体育投注appA payment received that is insufficient to cover the Past Due Amount + Current Amount Due.

Unpaid Fees

Fees that were assessed to the customer in the past and have not been satisfied.

Unpaid Interest

Overall interest that has accrued that has not yet been satisfied by the customer.

Unpaid Principal

The Original Principal (the original loan amount borrowed by the customer), less any prior reductions to the Original Principal, plus any interest that has been capitalized.


正规的体育投注app© 2020 Navient Solutions, LLC (). All rights reserved.

正规的体育投注appNavient and the Navient logo are registered service marks of Navient Solutions, LLC. Navient Corporation and its subsidiaries, including Navient Solutions, LLC, are not sponsored by or agencies of the United States of America.