How I negotiated with Sallie Mae/Navient to save $115K on my student loans

March 22, 2015

This article is for people who have defaulted on their Sallie Mae/Navient student loans. If you haven’t defaulted, or if you’re paying traditional subsidized or unsubsidized federal loans, this won’t work for you. For those of you that ARE in this position, this post is for you. You can get your life back.

I’m sharing all of my actual numbers, because it makes the conversation more useful.

Managing the chaos

Like many people, I was unemployed in 2009-2010. I had the bad fortune of graduating in the middle of the recession, and had quite a bit of difficulty finding a “big kid” job, i.e. one that would let me pay my bills–including my student loans. Also like many people who are struggling with debt they can’t pay, I was plagued by phone calls, and they were universally unproductive, because stones don’t have much blood to give. The first step to getting your feet under you is to create mental space, and the biggest thing is to stop the unwanted calls.

In addition to sending letters, I did this:

  1. Get a Google Voice number
  2. Log into your delinquent accounts, and use the Google Voice number as your only phone number
  3. Don’t answer numbers you don’t recognize
  4. Take down each collection agency’s contact information (phone number, debt they’re collecting on, etc.) when they leave you a voicemail
  5. Block each caller one by one

This builds a strategic rolodex for tackling your debts when you’ve got your feet under you. If getting back on your feet takes a while–it took me 2 years–you’ll notice that debt gets resold fairly often, and as it gets resold, the settlement offers get better and better. This is particularly true for unsecured, consumer debt, and less true with student debt.

Negotiating with Sallie Mae/Navient and FMS

Sallie Mae stops trying to collect debts themselves fairly quickly, and they tend to outsource this to other agencies. Unlike consumer debt, Sallie Mae does not sell the debt to the servicing organization. Instead they retain ownership of the debt, as well as the terms and conditions under which that debt may be settled. (In fact, if you try to call Sallie Mae directly, you will be redirected to the servicing agency without ever having talked to a human being.) The debt collector is just a proxy, but they’re the ones you’ll be dealing with.

My debt was serviced by an organization called FMS. You can Google them; there are many horror stories, but my experience was pretty good, barring a few incidents. I had settled a couple of smaller credit card debts to this point, so I made sure to unblock their phone number only when I had a small lump of money available to make a down payment. I knew I wasn’t going to be able to discuss a full settlement, but maybe I could do something to move the needle in the right direction. This ended up being a good move, though the benefits weren’t obvious until much later.

Default settlements

I’m going to use the term “default settlement” below. I don’t know for sure, but I believe that Sallie Mae’s proxies are authorized to offer some percentage (65-70% or so) as a settlement amount, without phoning the Sallie Mae mothership. The reason I believe this is true, is because they would periodically offer me settlements on the spot which didn’t require them to phone home. This was in contrast to my counteroffers which required a ~24-48 hour turnaround time where they had to talk to someone with more authority.

The reduced-interest plan

June 2011 balance: $144,586.

I brought my account up to date on July 25, 2011 with a $1,493.38 payment, and set up a recurring payment every two weeks for $372.56. This was their “reduced interest plan”, where the interest rate dropped to 0.01%. There was no discussion of a settlement at this point that I can recall. If there had been, it would have been WAY more money than I had, so it didn’t matter.

I made bi-weekly payments from July 2011 to May 2012.

The first settlement offer: the first $80K

In May 2012, I got a phone call from FMS to re-up my recurring payments. (They can only schedule 12 at a time.) At this time, the rep I had been dealing with all along offered me a settlement that was still too large for me to take advantage of in one shot. I told her as much, and if I recall correctly, she conferred with her manager and the Sallie Mae mothership, and they made me a counter-offer: an $80,000 reduction if I:

  1. Made a $7000 down payment by the end of the month
  2. Paid $800/month for 45 months
  3. At the 0.01% interest rate

This dropped the loan term from 155 months to 45 months, a 9+ year reduction. BUT, if I broke the terms, the full balance came back at the original interest rate, minus whatever I’d paid. I went for it, because saving $80,000 and 9 years was too good to leave on the table.

  • Settlement starting balance: $45,375
  • Made the $7000 down-payment (with my dad’s help) in May 2012, which
  • Reduced the amount left to pay to $36,375 (or so I thought, more on that below)

I set up a $400 recurring payment every 2 weeks, including months with 3 weeks to ensure I’d make the deadline with some headroom.

A bump in the road

Unfortunately, FMS wouldn’t send me paperwork stating the terms of the settlement, which (as I suspected) came back to bite me. I also hadn’t recorded our phone conversations, because until this point, there was no reason to think that I would need to.

December 2013 rolled around, and I received a phone call telling me that I was almost out of time, and that I owed like $45,442 by ~February 2014, which didn’t sound right. Unfortunately, I was dealing with a new representative, and she couldn’t decipher the notes of the previous representative. It was my notes against theirs… and when you’re in this position, the other party holds all the cards; you’re just along for the ride, hoping they don’t fuck anything up too badly. (That said, I’m very confident that my notes were more accurate. Not that it mattered then, and I can’t imagine it would have mattered in a courtroom.)

There was about a week of back-and-forth, but the takeaway was that I owed the $45.4K, but that the terms were extended until September 20, 2018. That was a big relief–there was no way my pre-wife and I could have come up with the money in that time.

I made sure to record that conversation should things go awry again. Check the laws in your state… my state is a two-party state which means that I needed the rep’s permission to record the conversation.

The final $20K

Because FMS can’t schedule more than 12 payments at a time, I end up talking to them about once a year. While re-upping my payments for this year, the rep mentioned that for whatever reason, Sallie Mae was accepting settlements “for pennies on the dollar this month”. That’s just a figure of speech, so I didn’t know if that was literally pennies or what, but she asked if I was interested in seeing if they would re-negotiate the settlement, because I’d basically paid $35K already, and was a model citizen. Of course I said yes, and they offered me their default settlement of $24K on the $35K owed on the spot, which is 68 cents on the dollar. I told them I couldn’t do more than $10K–a true statement–fully expecting a counteroffer for somewhere between $10-20K, whereupon we’d have to borrow some money from my wife’s parents. They said they’d have to call SLMA to see if they’d approve it.

The next morning, I got a call back: Sallie Mae had approved the $10K for the remaining $35K. The rep was shocked. The manager was shocked. They told me no one in the office had thought it would go through, which I believe. I get the feeling I’m going to be an office legend for the foreseeable future.

Recap

  • $144,586 original balance
  • $45,898 paid over 3.25 years
  • $98,688 saved
  • 68% discount (or 32 cents on the dollar) when all was said and done

FMS payments

Here’s a Google spreadsheet that shows all the debits over that time. Alternatively, you can download the Excel version.

FMS payments 2011 to 2015

Total student loans paid during this time

I have more traditional subsidized and unsubsidized student loans that actually had interest rates, so I focused on overpaying those during this time.

All student loans between 2011 and 2015

Conclusions and tax implications

Once you wrap up your settlement, you’ll have taxes to pay. In my case, my income tax burden for 2015 is now my salary + $98,600, which is… a lot. Depending on where you are financially, you may be able to reduce the canceled debt “income” by whatever your net worth is, if it’s negative by filing a Form 982. To determine if this is available to you, you can fill out the worksheet on page 8 of this IRS form. If the sum you come up with is negative, you can subtract that amount from your paper “income”. (I suggest you talk to an accountant if this applies to you, though.)

Other options include maxing our your pre-tax retirement contributions (401k/403b), and/or using your FSA plan to do something expensive like getting the LASIK you always wanted. Unfortunately, doing this latter thing requires knowledge ahead of time that you’ll be settling during this particular FSA year.

Otherwise you’ll want to adjust your tax withholding, because you’ll pay an underpayment penalty in addition to the tax on this “income” if you don’t pay enough tax throughout the year.

So I settled on a settlement saving my wife and I about $100,000 and ten years. This will let us buy a house and start a family years earlier than we had thought we’d be able to. I think my situation may be unusual, but I don’t believe for a moment that I am a beautiful and unique snowflake. Three and a half years ago, my Sallie Mae situation seemed hopeless, and now… it’s over. It took a lot of hard work, and an unwavering focus to get here, but it can be done.

If I can do it, so can others.

Addendum – June 1, 2015

I wrote this article back on March 22 — 3.5 months ago. I had expected to be able to publish this much earlier, when I got the statement that our business was concluded. During this period, a few things happened

  • I never received the paperwork stating that I had fulfilled my side of the deal
  • Sallie Mae/Navient and FMS parted ways as business partners, which made it harder for me to get information from either one of them
  • I had to fight with Sallie Mae/Navient in an attempt to get them to send me paperwork. They never did. When I talked to them on the phone, they stopped allowing me to record our conversations for some reason

Until today, I had no idea whether this was really done or not. I pull my credit report every year, and was expecting to wait until the summer in order to see if the status of my Sallie Mae/Navient loans were changed. But I bought a new car last week, and part of the financing involved the dealership pulling my credit report, which I was able to take a picture of. It indicated that the loans were settled for less than the balanced owed.

I feel reasonably confident that this is the end. Finally.

Leave a comment

  • If it’s your first comment on my blog, it will probably go into the moderation queue. Don’t worry, it’s not lost; I just need to approve it. It could be a few minutes, hours, or days. I will get to it, though.
  • Try to explain how your situation is different than people that have commented before you. Questions that amount to “I owe money, but can’t afford payments. What should I do?” aren’t constructive.
  • I will assume all questions are about private loans only. Federal loans are a completely different kettle of fish.

1099-C update – Feb 2, 2016

I received ten(!) 1099-C forms from Navient on Jan 28. When I reported them on my taxes, I collapsed them down into a single entry for the total amount. I also filled out insolvency Form 982. I was deeply insolvent at the time of the discharge, so instead of paying income tax on an extra $115,282, I only paid income tax on $32,313, because I was underwater by $82,969.

I used TaxAct, which made the process very straightforward. I collapsed the ten forms into a single line item because TaxAct cannot handle more than five 1099-C forms, and their Form 982 worksheet can only be applied against a single line item. We’ll see if the IRS complains. (I don’t know why they would:- the numbers are identical whether they’re reported across ten line items or one.)

Settlement amounts from other readers

  • $30K for $8K or 27 cents on the dollar – Jan 2016.
    • Update Feb 2017: his tax bill was $6,500–$4,500 federal / $2,000 state

171 thoughts on “How I negotiated with Sallie Mae/Navient to save $115K on my student loans

  1. Nice article and great tips. My wife and I are in the same situation (total current between the both of us exceeds $200k and are seriously defaulted). We finally decided to get everything back on track, and since we are defaulted they are now willing to work with us and provide reasonable plans.

    Every time they call they offer a settlement amount if paid in full but we are not in a situation that we are able to make such a large lump sum payment.

    Do you or anyone know if one is able to take out a different private loan (if approved), and pay the settlement amounts with said loan? Then just make payments on the new loan (possibly at a lower interest rate) with a much lower principle balance.

  2. Do you or anyone know if one is able to take out a different private loan (if approved), and pay the settlement amounts with said loan? Then just make payments on the new loan (possibly at a lower interest rate) with a much lower principle balance.

    Sure, you can pay loans with other loans. So long as the money clears, they don’t care what the source is. I would probably look at a p2p lending organization like Prosper or Lending Club.

  3. How do we claim insolvency? Navient is trying to settle for 30% of my loan.. They’re forgiving $3,000 but I don’t want this to hurt us come taxes. We only live off of $26,000 a year.

  4. I am three months behind on a private student loan that’s over 100k. I will be able to pay it off next week but will be back in the same boat unless my financial situation changes. I am wondering if I am better off letting it default so that I can receive better repayment offers. It’s a sallie Mae tuition answer loan

  5. Awesome article. I owe 84k and I just consolidated my loans (ISAC & navient). But they way it’s set up is crazy. Interest rate is 6.5% (I’m on that 30 year plan) it’s going to take forever to pay it off. Do you think I can call and get a settlement with navient? Would they want 50% and call it even?
    Or what advice would you give me?
    Thanks

  6. Hi Rian,

    you have given me peace of mind after having to tell Navient and Discover I cannot pay over $350,000 (yes, you read that right: ~$250,000 in Federal Sub/Unsub and $100,000 in Private Student Signature) in student loans a few months ago. It is impossible for me to pay and I had gotten to the point that I couldn’t function because I was so depressed that I could barely make my payments. I can’t get a new job due to my credit score and I am stuck teaching for literally $20,000 a year (with no benefits) at my alma mater as an adjunct lecturer. I am also a single mom to a child with severe autism. I can only make money under the table doing odd jobs to get by. It’s pretty messed up, but I don’t see a solution for where I am at.

    The calls started over the summer and I put them all on call forwarding to my VM and I have it so I don’t see any notifications that they called. Anytime I see a new number I note it and hit the ignore button. So I’m not stressed out any more, which has given me the ability to search to see if anyone out there has been in the same situation. So I’m very thankful for your article.

    For the $250,000 in Federal loans I am on the income based plan, so due to my income I owe $0 a month currently (so these are not in default as long as I show my tax records yearly). But for the $100,000 in private loans, I have not made payments due to no money to give since May 2016. I anticipate that it’s going to be like this for a while till I can somehow save up money after a handful of years to pay (possibly 5-10 years I’m guessing). Anyways, I wanted to ask about if it is possible that for the private loans in default if they (Navient or other collector) can take money out of my bank account without notice? I ask because I need to save up obviously or should I be super careful where I put this money? Should I save it as cash in a secure place, have a friend I trust save the money in their bank, or am I being ridiculous and just not worry, this saving it in my own account?

    How careful should I be and how long should I wait to start negotiations (like at what % of what I owe that I should focus on saving)?

    Thank you

  7. I am 67, in school full time and working .

    Navient told me that I have been in school enough and it is time to pay my debts to them.

    Navient issued a litigation registered letter.

    I am trying to achieve my return to college in my 50’s and make a good job course for myself that also is responsible to debt.

  8. I am very interested in how you accomplished this and would love to speak with you. I currently am 120 k in debt have an autistic child and I am slowly sinking.

  9. I am very interested in how you accomplished this and would love to speak with you. I currently am 120 k in debt have an autistic child and I am slowly sinking.

    I told the full story in the blog post. There is nothing more to tell.

  10. Wondering how your credit score is so good despite the previous default. Did it not go up until you settled the account in full? I am trying to buy a house now but have not been able to get approved for a mortgage because of my credit score. The analyst said my low score is mostly from my late payments to Navient (who I am not current with) and that I defaulted on my AES loans (one 15k and one 14k loan). I tried getting Navient to do a good will adjustment on the late payments (I have six different loans through them and every time I was late they dinged me six times so I have a ton of late records), but they refused. I’ve gotten conflicting info on whether I should pay off the AES loan. I don’t have the means to completely settle but I can definitely start making monthly payments- but not sure if that will even help my credit at this point. Any advice? It’s so hard dealing with these people and not getting discouraged. I am just trying to make a better life for my son and I but with a credit score of 530 I can’t do much.

  11. Wondering how your credit score is so good despite the previous default. Did it not go up until you settled the account in full?

    Because it had been five years without any new black marks on my credit report when I wrote this blog post. During that time, I focused on making moves that would dig me out of debt. I purposely avoided any activities that would juice my score in the short term, and focused purely on long-term debt reduction. (Which is an excellent way to repair your credit, as it turns out.)

    I did one thing which might have helped… I don’t know. I kept a credit card at a $0 balance while defaulting on my others. I kept it at $0, because I wanted to be able to at least have something to signal that I was no longer a bad risk when the time came. That was my Discover card, which worked out well later because they started offering a credit card that gave you a monthly FICO score, which saved me a few bucks as time went on. (I used to pay for my scores twice a year.)

    I used to keep a spreadsheet tracking debts and credit scores and payoff dates. I still track my credit scores, and probably will for another year. (All my delinquencies fall off by September 2017, so my score should shoot up after that.)

    Here’s a rough timeline, based on my tracking and notes to myself:

    • July 2011: 493 FICO. This was the day I got my first paycheck at work, and was the absolute beginning of my “digging out” journey. This was where I stopped the bleeding. I started using my credit card around this time so I could show regular usage and payoff.
    • January 2012: 533 FICO. I had settled a credit card debts in the meantime, and started the settlement repayment plan with Sallie Mae by that time, but those debts were still marked as delinquent on my credit reports. That’s just how settlements work… they’re negatives until they’re marked as “settled for less than amount owed”. That’s a less-bad negative on your credit report, if that makes sense. I.e., not as bad as it could be, but not as good as “paid in full”.
    • June 2012: 556 FICO. Settled an outstanding credit card. In retrospect, I would have done that back in July 2011, and not engaged with Sallie Mae until the following year. (More negotiating leverage: the longer time goes on, the less chance they have of recouping their losses, so they’re more amenable to lower settlement amounts.)
    • August 2012: Leased a car with my dad as a cosigner, because I couldn’t do it on my own, because my credit was bad.
    • January 2013: 560 FICO. No change from June 2012. Very discouraging!
    • July 2013: 626 FICO. Wow, huge jump! Maybe regular payments on the car lease are the reason? No idea.
    • January 2014: 675 FICO. Wow, another huge jump!
    • June 2014: 680 FICO.
    • December 2014: 695 FICO. Paid off one of my federal loans during this timeframe.
    • January 2015-present (Dec 2016) 700-710 FICO. It goes up and down with no relationship to anything as far as I can see. I’ve closed out that car lease (perfect payment history), and opened a new car loan to buy a car (May 2015–perfect payment history), and there’s been basically no movement. I stopped paying attention to it, mostly.

    I think it’s just a matter of time for those delinquencies to fall off; I think they’re the main thing holding my score back.

    I am trying to buy a house now but have not been able to get approved for a mortgage because of my credit score. The analyst said my low score is mostly from my late payments to Navient (who I am not current with) and that I defaulted on my AES loans (one 15k and one 14k loan).

    Your problem is not your credit score. Your problem as that you’re drowning in debt. I’m not going to sugarcoat it: a mortgage on your own isn’t going to be a reality for you for probably 5-7 years. Maybe longer, depending on how long it takes you to dig out. See below on how I would approach digging out. I would redirect your efforts towards digging out, not incurring more debt. (And yes, I realize that mortgages are often cheaper than paying rent.)

    Until your head is above water, mortgages (and other loans) are off the table. All the other stuff you’re doing is just rearranging deck chairs on the Titanic.

    I tried getting Navient to do a good will adjustment on the late payments (I have six different loans through them and every time I was late they dinged me six times so I have a ton of late records), but they refused. I’ve gotten conflicting info on whether I should pay off the AES loan. I don’t have the means to completely settle but I can definitely start making monthly payments- but not sure if that will even help my credit at this point. Any advice? It’s so hard dealing with these people and not getting discouraged. I am just trying to make a better life for my son and I but with a credit score of 530 I can’t do much.

    OK, so if you’re ready to dig out instead of rearranging chairs, this is what I would do:

    If the Navient loans are private, just stop paying them. Settlements can be negotiated on those later. The longer you go, the more likely they are to accept lower and lower settlement numbers. In the meantime, redirect money into savings.

    If AES is private, just stop paying it. That can also be negotiated like the Navient loans. If it’s a federal loan, rehabilitate it. (You can do this once.) Once it’s rehab’d, switch to income-based repayment (IBR), and continue directing money into savings for a loan settlement with Navient.

    Your problem is that you’re drowning in debt. Solve that problem, and the score will take care of itself slowly. My approach here does both.

  12. Did Navient sue you or try to take you to court?

    Was it just a standard collections debt letter and no court appearances, no serving?

    I’ve got $100,000+ in private student loans, and worry about being taken to court. I’m way under the garnishment level in my state, straight up poverty, but still dread it.

    I wasn’t sued, no. My loan total was much higher than yours.

    -Rian

  13. Hello,
    Very interesting and enjoyed hearing about your success. I too am in some student loan debt. I have 44k in private navient loans and another 25k in government. I recently received a decent sum of money, 45 thousandish from selling some real estate. My question is do you think I should call navient to see if they can reduce the amount I owe or just straight pay them the 44k? I have never missed a payment with them but I do want to get the most bang for my buck and reduce these student loans the best I can.

    Thank you,

    They won’t negotiate if you’re in good standing.

    -Rian

  14. Saw this question which was not answered, but I have the same concern: did you have a cosigner on those loans? If so, what happened to them when you defaulted?

    It hurt her credit rating, but she had gone through a bankruptcy a year or two before that, so the hit wasn’t that bad. (In fact, it may not have lowered her credit score at all, but it’s hard to know for sure when you’re starting point is 400-something.)

    Other than that, it was the same that happened to me: lots of annoying phone calls, and what was about it. She was cosigner on my private loans, not my federal.

    -Rian

  15. Rian:
    I must tell you, after reading your site, I am encouraged in that, you give us insight into the numerous scenario’s and sound advice that up until this point, I had not realized there were so many others in the same position searching for advice and direction on how to get back on track.

    I have two questions regarding my loans, and hope you can address them.
    I have three outstanding loans, AES, currently in good standing and paying monthly.
    Navient, it has been out of forbearance and they want me to begin paying $1200 + per month, which I am unable to pay that amount, outstanding balance $108,000 (both subsidized and unsubsidized debt. I also have a Federal Loan for $81,200 that will be coming out of forbearance, I have paid a very small amount each month, but they are pressuring me to pay more.
    1. I work for the Federal Government in Health Prevention, I read there is a program if you pay your Federal Loans for 10 years (a qualifying payment, which I assume is the full monthly amount required), your loan may be forgiven after 10 years. My question to you, if I rehabilitate these loans into the IBR, which I read in your blog, does that mean I can have the monthly payment reduced and if so, would I still qualify for the loan to be forgiven after 10 years? And two, why do you suggest the IBR versus a PAYE Plan or an ICR Plan. I want to be sure I select the best option for me.

    My husband is military and unfortunately I could not find a decent job in the state we were living in, so I had to take a job in another state, we live in two states, he is going on his third deployment shortly and our expenses are high because of us having to maintain two residences, which we rent. I work for the Federal Government in Health Promotion. Any advice would be most welcome.

    Navient, it has been out of forbearance and they want me to begin paying $1200 + per month, which I am unable to pay that amount, outstanding balance $108,000 (both subsidized and unsubsidized debt. I also have a Federal Loan for $81,200 that will be coming out of forbearance, I have paid a very small amount each month, but they are pressuring me to pay more.

    You have more options with respect to negotiating settlements with Navient. I would prioritize your federal loans first, because they can and will garnish your wages.

    I work for the Federal Government in Health Prevention, I read there is a program if you pay your Federal Loans for 10 years (a qualifying payment, which I assume is the full monthly amount required), your loan may be forgiven after 10 years. My question to you, if I rehabilitate these loans into the IBR, which I read in your blog, does that mean I can have the monthly payment reduced and if so, would I still qualify for the loan to be forgiven after 10 years? And two, why do you suggest the IBR versus a PAYE Plan or an ICR Plan. I want to be sure I select the best option for me.

    I’ve heard about this forgiveness program, too, but I don’t know the details, because it never applied to me. IBR is available for all(?) federal student loans, and lower-income individuals should take advantage of it if possible. I assume IBR can be combined with forgiveness, though I don’t know the details. I would investigate that angle.

    Hmm, yes, it appears forgiveness + IBR together is a thing.

    -Rian

  16. Following up on a comment I left much earlier. I settled a $30,000 Navient loan for $8,000. My tax bill on the debt was $6,500–$4,500 federal and $2,000 NY State. So in the end I effectively settled for $14,500, saving me $15,500.

    Was it worth it? Yes. That’s a huge savings. But don’t forget to consider the tax bill! Especially because it is due in April of the same year you file, unless you request an installment plan (which I did for the federal portion).

  17. I have a question. Do you know how much percentage Navient charged into your loans for defaulting in the first place. I was told when it goes to collections it can be between 18-40% of the total. I am trying to see if it would be worth defaulting to negotiate a settlement.

    I seem to recall that they got rid of the charges??? But I can’t be sure. I don’t remember paying any kind of delinquency fees once I entered the 0.01% settlement payoff phase.

    -Rian

  18. I am a co co signer. I want to pay this loan. I can’t stand the thought of losing my home. How do I know they accept the amount and really get my name off this.

  19. I just received an email yeaterday offering me a 70% settlement on my $145k student debt. At over $100k my private loan payments are the only delinquent ones because I have been able to use an unemployment deferment for my federal loans, which equal about $45k. Today, I received a letter delivered by UPS from navient titled litigation review, which basically warns me that they are about to send the case to their litigation partner but also states there is still time for me to avoid litigation.

    I have not spoken with navient since October of last year, since I made my last payment. I am set to begin an income-driven repayment plan on my federal loans in May, which are also being serviced through navient. That is when I was planning on re-establishing contact with them and re-informing them that I’m still employed only part-time and cannot afford the $700/month, interest-only payment on my private loans. Now, after the last two days of a settlement offer and then a litigation warning I definitely feel like I need to contact them.

    Do you have any advice for me in this situation? What should my angle be when I contact them and what should my next moves be (aside from finding a full-time job, i know, i know, believe me) to hopefully recieve an even lower settlement offer?

    I have exhausted all of my forbearance so that is not an option.

    I really have no idea. I haven’t heard any cases of Navient suing people, so I’m not really sure what to tell you. I would suggest Googling to see if anyone has been sued before. It could be a scare tactic. Or it could be real.

    -Rian

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