are navient loans forgiven after 20 years

Here are a few key points to consider:

Income-Driven Repayment Plans (IDR): If you have federal student loans serviced by Navient and are on an income-driven repayment plan, you may be eligible for loan forgiveness after 20 or 25 years of qualifying payments, depending on the specific plan you’re enrolled in. The different IDR plans include Income-Based Repayment (IBR), Pay As You Earn (PAYE), and Revised Pay As You Earn (REPAYE).

Public Service Loan Forgiveness (PSLF): If you work in a qualifying public service job and make 120 qualifying payments while enrolled in an eligible repayment plan, your loans may be eligible for forgiveness under the Public Service Loan Forgiveness program. Navient-serviced loans may be eligible for PSLF if they meet all other program requirements.

Tax Implications: It’s important to note that loan forgiveness may have tax implications. Forgiven loan amounts might be considered taxable income in some cases, which means you could owe taxes on the forgiven amount.

Ever-Changing Policies: Student loan forgiveness policies can be subject to legislative changes and updates. It’s crucial to stay informed about any changes that may affect your specific situation.

Contact Navient and Federal Student Aid: To get the most accurate and up-to-date information about your specific loans and potential forgiveness options, it’s recommended to contact both Navient and the Federal Student Aid office. They can provide guidance based on your loan details and current regulations.

Remember that the information I’ve provided might not reflect the latest developments. To ensure that you have the most accurate information about loan forgiveness options for Navient-serviced loans, visit the official Navient website, the Federal Student Aid website, or consult with a financial advisor or student loan counselor.