Date Received: 2022-02-01
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: Throughout the pandemic pause Navient has continued to take payments as scheduled. I initially called and filed for a pause when my dental office was closed in XX/XX/2020 which a Navient representative approved during our conversation. The regularly scheduled auto-payment however was withdrawn on schedule. All subsequent payments have been withdrawn since. During the time of the pause on payments and interest the payments have been taken with interest. On one month, XX/XX/2020, the payment was on time, and put to interest only. To date Navient has taken {$4600.00} in interest during the pause on interest. Early on, Navient representatives were apologetic. Now they state that my loans are owned by them, not the XXXX. of XXXX. I checked online and the XXXX. has Navient listed as my loan servicer, and still as the federal loans that they always were. Any help dealing with them and getting the interest changed to principle would be appreciated.
Company Response:
State: NY
Zip: 144XX
Submitted Via: Web
Date Sent: 2022-02-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-01-31
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: On XX/XX/XXXX my credit score with top three agency 's was XXXX. The score is always around XXXX to XXXX depending on the day for the past 3 years. On XX/XX/XXXX Navient reported to the credit bureaus that the student loan was 120 days late which dropped my score XXXX points. I was devastated when I saw this change to my score. I recently had to move my Mom in due to the pandemic, because my other sibling lost his job and they all moved in with me. My Mom has hard time climbing the steps to enter the house. I am being denied a home improvement loan because of this drop. I contacted Navient about the payments and asked them if they could remove the late payment from my credit report. I also asked if there was a payment plan that would allow me to pay less than the {$800.00} a month that was due. The first thing the representative suggested was a forbearance agreement, I didn't want to use this as a result to remedy the situation, but was told it was the only way to bring the account current and would give me 3 months to catch up and be able to start making payments. I then asked why was the payment reported as late, when according to Consumer Financial Protection Bureau website states that Federal student loan repayments were on pause for interest and payments until XX/XX/XXXX so how was the payment late. The rep told me that was for Private loans only, I told her to please check that because I was just on the site and it's in bold letters that repayments were on hold until XX/XX/XXXX, so how can this be reported to the credit bureau as late. I asked to have it removed from my credit report and was told this was impossible as the credit bureau is the one he placed the late payment. We went back and forth until I hung up and called back and spoke with another rep. The next rep talked about a repayment plan that would lower the payment to half and start on XX/XX/XXXX. I asked her the same question about having it removed so I could qualify for a home improvement loan to make the changes to my house for a ramp, for my elderly mom to access the home. She told me the same thing that the credit bureau would have to remove the late payment, I argued that it should have not been reported late, when the XXXX deadline for the pause on payments have not occurred. I gave up until today. Please help me
Company Response:
State: MD
Zip: 21218
Submitted Via: Web
Date Sent: 2022-01-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-02-01
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: I have been adversely affected by the predatory lending practices brought to light in the latest CFPB and XXXX XXXX XXXX lawsuit against Navient. I am an Arizona resident who attended medical school between the years of XXXX at Midwestern university in XXXX Arizona XXXX During school I took out a mix of federal and private student loans with XXXX XXXX. Following my medical education, I completed my post doctorate medical residency in XXXX XXXX at the University XXXXXXXX XXXX in XXXXXXXX XXXX Currently I have two outstanding XXXX student loans held by Navient. Between XXXX and XXXX I had a balance of $ XXXX in subprime private student loans which originated with XXXX XXXX. My private loans were in default status and eventually settled for a lump sum cash payment of which was borrowed to pay XXXX XXXX to settle those debts. I was issued 1099 for amount forgiven and have since paid taxes on the amount charged off. I have attached the details for my current federal student loans to illustrate the history, confusion and exponential ballooning of my loan balance resulting from the continued forbearance steering by Navient. Note the number of times capitalized interest is listed in the details on my account and the number of unavailable line items compounding confusion regarding account status. From the time of loan origination up to today, I have been in frequent contact with my loan servicer including multiple times when I experienced economic hardship both during my medical residency training as well as following my residency training. At every level XXXX XXXX/Navient steered me into forbearance. By doing so, the interest on my original loan balances ballooned each and every month my account was in forbearance status. After doing my own research, I later found out that the months my loans were put into forbearance status, I would have qualified for a {$0.00} or low $ monthly payments had I been offered an income driven repayment plan ( XXXX ) putting me closer to meeting the requirements of my current XXXX plan. Had Navient advised me differently, I would have had an XXXX additional months of credit counted towards my XXXX repayment plan and my current financial reality would be very different. As it stands now, I will never be able to get out from under the debt I owe and as such have sought counsel from a student loan advisor and been told to pay only the bare minimum required for the next XXXX years until Im eligible for loan forgiveness. Oh but keep in mind, I will owe taxes on the amount forgiven most of which resulted from XXXX predatory lending practices? How is it someone could get out from under a balance on loans like this or be able to be financially responsible? To be clear that I am not looking to not be responsible for my student loans but I do feel borrows like myself should be given credit towards months of payments toward an XXXX payment plan at least equivalent to the the number of months they were subject to forbearance steering by Navient. I am XXXX XXXX XXXX, completed my medical school education at XXXX University in XXXX, Arizona. Following my education, I completed my post graduate training at the XXXX XXXX XXXX in XXXX, XXXX Because of my loan balances I experience times of XXXX, have never owned my own home and likely never will. I have a XXXX who is a freshman at XXXX who I have not able to help financially further perpetuating the student loan cycle.
Company Response:
State: AZ
Zip: 85255
Submitted Via: Web
Date Sent: 2022-02-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-01-31
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: I took parent plus loans for my childs schooling and ended up consolidating them and Navient ended up with the loans .I contacted the Navient several times during repayment about the payments not being applied to the balance.I recently decided to look at the life of the loan and contacted a Navient Advocate about payments made that were not for the right amount applied. Because of this I had late fees for the life of the loan. The payments were short more than 80 % of the time. The payments showing were always different than the actual payment only a few were correct. I made a large payment to pay off the loan accounts because the balance was increasing substantially from fees and never having a reduction in the original amount loan amount. I noticed the payment was shown by the advocate as being {$6000.00} Short. I am frustrated and want a refund of the overpayments I made. The amount is a lot not including the extra fees tacked on. This needs to be addressed it has created a lot of hardships for parents and students. Education is very important to the future of our country to prevent our economy from having the problems that exist currently. Support the education system and dont create hardships for families.
Company Response:
State: WA
Zip: 982XX
Submitted Via: Web
Date Sent: 2022-01-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-01-30
Issue: Struggling to repay your loan
Subissue: Can't get other flexible options for repaying your loan
Consumer Complaint: I have been under an Income Driven Repayment Plan for years and Navient does not honor it correctly and denied it although fed loan and student loans.gov have me under a 0 monthly repayment plan. Navient has been emailed and called as to why I am forced to pay them and not receive my qualifying PSLF. I am an educator and have been since XX/XX/2008 to the present. It has been lie after lie and I also attended XXXX University with the loans under Navient and University XXXX XXXX. XXXX Your monthly statement is ready Monthly Bill - Navient - Ebill Reminder XXXX IMPORTANT TAX RETURN DOCUMENT AVAILABLE Important Tax Document : Form XXXX XXXX New document ready to view! Monthly Bill - Navient - Ebill Reminder XXXX New document ready to view! Monthly Bill - Navient - Ebill Reminder XXXX New document ready to view! Monthly Bill - Navient - Ebill Reminder XXXX New document ready to view! Monthly Bill - Navient - Ebill Reminder XXXX New document ready to view! Monthly Bill - Navient - Ebill Reminder XXXX New document ready to view! Monthly Bill - Navient - Ebill Reminder XXXX New document ready to view! Monthly Bill - Navient - Ebill Reminder XXXX New document ready to view! Monthly Bill - Navient - Ebill Reminde XXXX Your monthly statement is ready Monthly Bill - Navient - Ebill Reminder XXXX IMPORTANT TAX RETURN DOCUMENT AVAILABLE Important Tax Document : Form XXXX XXXX New document ready to view! Monthly Bill - Navient - Ebill Reminder XXXX New document ready to view! Monthly Bill - Navient - Ebill Reminder XXXX New document ready to view! Monthly Bill - Navient - Ebill Reminder XXXX New document ready to view! Monthly Bill - Navient - Ebill Reminder XXXX New document ready to view! Monthly Bill - Navient - Ebill Reminder XXXX New document ready to view! Monthly Bill - Navient - Ebill Reminder XXXX New document ready to view! Monthly Bill - Navient - Ebill Reminder XXXX New document ready to view! Monthly Bill - Navient - Ebill Reminder XXXX New document ready to view! XXXX XXXX XXXX approved XXXX Your Application from XXXX has arrived We have your Income-Driven Repayment plan XXXX Reminder : Your payment will increase soon It? XXXX time to renew your Income-Driven Repayment Plan! XXXX Your monthly statement is ready Monthly Bill - Navient - Ebill Reminder XXXX Your monthly statement is ready Monthly Bill - Navient - Ebill Reminder XXXX Your monthly statement is ready Monthly Bill - Navient - Ebill Reminder Happy to provide more details
Company Response:
State: VA
Zip: 24540
Submitted Via: Web
Date Sent: 2022-01-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-01-30
Issue: Struggling to repay your loan
Subissue: Can't get other flexible options for repaying your loan
Consumer Complaint: I received five Signature Student Loan disbursements from XXXX XXXX from XXXX to XXXX totaling to {$67000.00} : Loan XXXX disbursed for {$3900.00} with 12.875 % interest Loan XXXX disbursed for {$8000.00} with 12.875 % interest XXXX disbursed for {$15000.00} with 8.625 % interest Loan XXXX disbursed for {$20000.00} with 3.75 % interest Loan XXXX disbursed for {$20000.00} with 15.125 % interest I graduated XXXX in XX/XX/XXXX and started making payments in XX/XX/XXXX. Over the life of the five loans, XXXX XXXX sold this debt to Navient, and I have made a concerted effort to satisfy this debt by making 326 payments totaling to {$39000.00}, however, due to capitalized interest, these loans have increased by 222 % and now has an outstanding balance of XXXX. After speaking to countless XXXX XXXXNavient customer service representatives, supervisors, and managers to understand why the principal amount has increased by 222 %, I recently learned that over the past 9 years, every time I contacted XXXXXXXX XXXX/Navient XXXX XXXX XXXXNavient contacted me to discuss an affordable payment plan due to financial hardship, attending graduate school, relocating across the country, and job loss, I was steered to sign up for forbearances disguised as reduced interest rate repayment plans. As a result, the interest accrued was capitalized to my principal loan balance and increased my expected payoff date by over 30 years. Now I have found myself in an impossible predicament and life-long financial hardship due to unfair, deceptive, and abusive student loan servicing practices. Due to forbearances, I have paid {$22000.00} towards interest only, which prevented me from paying down the principles of the loans and forced me into a never-ending cycle of interest payments. I have attached seven excel spreadsheets that will provide insight into this situation. The spreadsheet titled All Loans contains a summary of activities on all loans to-date, which derived from Navients website. The spreadsheets called XXXX XXXX, XXXX XXXX, XXXX XXXX, XXXX XXXX, and XXXX XXXX contain a summary of activities for each individual loan, also from Navients website. Finally, the spreadsheet titled Loan Summaries & Est. Pay Off contains the following calculations : A. Hypothetical breakdown of each loan no forbearance B. Current breakdown of each loan with forbearance C. Hypothetical breakdown of estimated interest & principal pay off in years no forbearance D. Current breakdown of estimated interest & principal pay off in years with forbearance E. Proposed resolution I am currently paying Navient {$1400.00} per month which is 55 % of my net monthly income. According to column F in Calculation D., after I satisfy the monthly accrued interest of {$1100.00}, the difference of {$310.00} is then allocated towards the outstanding amount of interest today of {$22000.00}. It would take me an average of six years to pay the outstanding interest, which is required before I can pay down the principal. So, on average, I would not be able to make principal payments towards any loan until XXXX. Furthermore, due to a 222 % increase on the principal balance from forbearances, only 21.47 % of my monthly payment would be applied to the outstanding principal today of {$120000.00}. This means it would take me an average of the next 42 years to pay off all these loans. In 42 years, I will be XXXX XXXX XXXX and would have made student loan payments for most of my life. According to column F in Calculation A., if no forbearance was applied during the life of the loans, in nine years time ( 108 months ), the total outstanding interest of all loans would have been {$59000.00}. When you apply the current interest-paid-to-date to the non-forbearance outstanding interest-to-date, you have an outstanding interest of {$26000.00} ( see column B in Calculation XXXX ). The total monthly interest on {$26000.00} is {$550.00}, so if you apply the same monthly payment of {$1400.00}, the amount after the monthly interest is satisfied is {$920.00}. If I was not steered into forbearance by XXXX XXXX and Navient Representatives, it would take me an average of the next 2.44 years to pay off the outstanding interest, and an average of 8 additional years to pay off the outstanding principal of {$61000.00}. In 10 years, I will be XXXX XXXX XXXX and would have paid loans for almost half of my life. Had XXXX XXXX and Navient not used fear tactics and predatory lending practices to steer me into accepting forbearances, I would not be trapped in a cycle of debt, preventing wealth-building opportunities for the next 42 years. I have tried to fix this problem with Navient, however, Navient has continued to steer me in the direction of forbearance. Most recently, when I contacted Navient on Tuesday, XX/XX/XXXX to postpone my future payments to pay for my car repairs and so I can save up for future emergencies, the representative threatened to take me to court if I do not make a payment. I received another call on XX/XX/XXXX, by XXXX, the Navient representative on my account, stating that if I wanted to help my situation, I could bring my loans current with the Three Pay Program or a reduced interest rate payment plan. Of course, she did not disclose the consequence of capitalized interest until I asked. Over the years, I trusted XXXX XXXX and Navient to provide me with financial guidance to help me develop a repayment plan that would not stifle my financial goals, so I can build wealth building opportunities for my family. However, I was steered into forbearances without receiving all of the information and details surrounding capitalized interest. As a result, it would take 42 years to satisfy this debt.
Company Response:
State: VA
Zip: 223XX
Submitted Via: Web
Date Sent: 2022-01-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-01-29
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: After nearly 20 years of payments and struggling at times thru fear of non payment I was misled from day 1 at XXXX XXXX XXXX with having a low credit score a predatory lending, beyond the compounded accrued interest owed during times of deferred and forbearance, I have tried so many times to contact them to just get my transcripts despite my inability to afford to finish my program. This horrible experience with XXXX XXXX XXXX and Sallie Mae then Navient has disrupted my life and for far too long I owed more than the original loan. I request all interest and late fees back and origination fees. Totaling approx {$1500.00}. I have paid money for my transcripts 3 times and they wont release it. That alone has cost approx {$100.00}. I cant get historic records they wont answer my questions without paying another {$250.00} to release my transcripts. {$1700.00} is a conservative request considering the devastation caused by my credit scores properly reported and getting inaccurate tax information and no access to statements. Im devastated. Please help.
Company Response:
State: OH
Zip: 442XX
Submitted Via: Web
Date Sent: 2022-01-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-01-29
Issue: Dealing with your lender or servicer
Subissue: Need information about your loan balance or loan terms
Consumer Complaint: Navient is my loan servicer, I am a student currently attending XXXX University. I started my program in XXXX, my student loans are put in deferment while in school. However, I chose to make payments while attending school. From XXXX XXXX to XXXX, I realized there were some discrepancies when the balance amount on my loans were off. I called Navient on XXXX XXXX to advise of the discrepancy, I spoke with a supervisor and she said she saw what happened. She said for some reason the system applied the a higher interest payment to one of my loans than it was supposed too. After that the supervisor transferred me to a different team to correct the error. Loan 1 {$2100.00} Loan 2- {$2100.00}. The team member proceeded to tell me she doesnt know how to fix it because its was an interest error. Agent then advised me she will escalate the issue and call be back in two weeks. Its has been passed two weeks so I called navient on XX/XX/XXXX and they agent in XXXX was overseas and didnt speak XXXX very well and advised I should have gotten an email with the findings. However, I never received an email. The agent told me that the findings said all payments had been applied correctly, but it wasnt the payment history. It was with the interest payment were the issue lies. Since my loan has been sold to navient I have had nothing but issues with my payments getting misapplied and I have to call to every month to fix issues. I am tired of these issues and no one returns calls.
Company Response:
State: AR
Zip: 72118
Submitted Via: Web
Date Sent: 2022-01-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-01-29
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: I have been paying on this Navient loan since XX/XX/XXXX and the amount hasn't changed at all. This Navient loan started in the amount of {$19000.00}. Through the life of this loan, I have made payments in the amount of {$36000.00}. On the web site they don't give you an option to pay on the principal only. Therefore, I can not pay off this loan. I have asked to settle this loan and they will not settle. Here are the current totals as of XX/XX/XXXX. Original principal {$19000.00} Adjustment Total = {$600.00} capitalized interest = {$0.00} disbursement = {$28000.00} disbursement fee XXXX forbearance payment = XXXX Late fee XXXX Payment = XXXX Repayment Fee = XXXX Resale XXXX School Refund = XXXX
Company Response:
State: MO
Zip: 641XX
Submitted Via: Web
Date Sent: 2022-01-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-01-28
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: Today ( XX/XX/2022 ) I received a predatory mailer from the student loan servicer Navient. The mailer encouraged me to refinance my federal student loan, currently in coronavirus related forbearance until XX/XX/2022, with Navient. The mailer incorrectly states that the federal student loan payment pause will end on XX/XX/2022 ; this is months earlier than reality. Its predatory and unethical to mislead consumers about federal protections in order to make money off their existing debt.
Company Response:
State: CO
Zip: 80302
Submitted Via: Web
Date Sent: 2022-01-28
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A