I called Navient ( XXXX XXXX ) to see my options regarding reducing my interest rates ( 9.75 % and 5.25 % respectively on my XXXX loans ). I explained that my reason was I had received an offer from a competing institution to consolidate my loans under a much lower/fair rate. However, the " manager '' I eventually spoke with ( employee ID XXXX ) told me that they do not care if I left, they do not need to adjust their rates and they do not alter the term of the contract ( oh, but I could extend the loan to lower the payment instead-would I be interested in that? ). I explained I wanted to simply understand what my options were for lowering my interest rate at Navient rather than completing all the paper work for paying off the loan through a different finance company. Instead, I was surprised to hear him tell me that he did n't care if I left, Navient as a company does not need to lower my interest rates. Yet my contract states it is a VARIABLE interest rate, so it seems to me that Navient 's position is that they can raise the rates whenever it is beneficial for them, but will never lower them.