Date Received: 2020-05-29
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: Loan was initiated with Navient XX/XX/2006in the amount of {$25000.00}. I have been paying on this loan since that time and my principal balance is {$16000.00}. I have been told that I have paid {$17000.00} in interest and interest paid in 2019 was a little over {$1000.00}. Based on my payments and interest rate of 6.125 that calculates out to almost 50 % interest. Navient will not provide a full summary of my account showing payment made, interest charged and principal applied. I have further been advised that it will take me an additional eight years to pay off the remaining {$16000.00}. I applied for an income driven programAnd not only was I denied but my payment amount was increased.
Company Response:
State: IL
Zip: 60544
Submitted Via: Web
Date Sent: 2020-05-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-29
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: A few years back, I called Navient to see what I needed to do to qualify to have my co-signer removed from my private loans. They listed off a few details on what steps I needed to take, and those were : Loans payments must be in full without any program assistance ( IBR, Deferment, Forbearance ) Continuous monthly payments for 2+ years Can not miss a payment during this time period After paying them for over two years, I called to ask how to get the co-signer release paperwork, and where to file for processing. I was then told the same list of requirements, but an additional one was addedhaving a degree from the school attended. This information was not provided and is now screwing me over. I was unable to graduate due to maxing out my ability to request more loans and was forced to quit my education, which was also a lie the school told me when I enrolledthat student loans would cover the entire span of my education there. I was two quarters away from graduating. I also met all the requirements for over two years, only to be told the information I was given was incomplete and can not seek relief for my cosigner. Now, the XXXX XXXXXXXX XXXX XXXXXXXX and many other locations have closed due to their worthless degrees, lack of accreditation, predatory student lending practices, false job placement information, poorly promised job placement practices, and false starting wage information. Because of this, I can now never complete a degree and do not have the option to have my mother removed as a co-signer on my loans. Having a cosigner puts my family at risk if something happens to me, and also enables Navient ( the loan servicer ) to use my co-signer 's income as a means to charge me more per month in payments. My cosigner should have nothing to do with my monthly payments unless/until I have lost the ability to pay them myself. It's robbery at its best.
Company Response:
State: SC
Zip: 29720
Submitted Via: Web
Date Sent: 2020-05-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-28
Issue: Struggling to repay your loan
Subissue: Can't get other flexible options for repaying your loan
Consumer Complaint: In Spring of XXXX I attempted to rehab my student loans with Navient solutions. Additionally, I attempted to remove my husbands name from the loans. I was told if I made a couple of months of payments my loans would be rehabbed and my husbands name removed from the 1 loan. I began making the payments and payments did AND STILL DO show on my husband 's credit report. Then in XXXX of XXXX, my payments were returned to me, and my husband 's loan went suddenly into default. When I tried calling, nobody had any information for me, the DoE showed I didnt owe any federal loans and Neither did Navient. At least thats what I was told at the time. My husband attempted for 2 years to get information on the loan with his name on it and is finally working to resolve that loan. In late XXXX I received notice my wages were being garnished to repay the loan and allowed it to continue. At no time did this show as a default on my credit report so I was under the assumption the repayment was on a loan NOT in default. Fast forward XXXX, due to covid 19 my payments were suspended by law, still no indication on my credit report that my loan was in default. Having fixed or settled all other student loans, I applied for a FHA loan and only then does this debt show as a default on the XXXX XXXX. When I tried to contact Navient they were even unable to provide me an account number, my payment ampunt or how to pay it. I was left with a loan I was unable to pay due to Navients confusing, false, or lack of communication. It was placed in default which was a huge mark against me and I was not afforded any way to pay it.
Company Response:
State: TN
Zip: 37128
Submitted Via: Web
Date Sent: 2020-05-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-28
Issue: Struggling to repay your loan
Subissue: Can't get other flexible options for repaying your loan
Consumer Complaint: Navient claims in a letter dated XX/XX/XXXX that they may be able to postpone my payments if I am experiencing economic hardship. This letter also states that they are not updating the historical payment record with the credit bureaus as their position is that they did not receive payments during the months reported as past due. First of all, this letter I never received by mail, nor was it uploaded in the digital mailbox in the website. If it were not for the previous complaint and the company 's response including a pdf of this letter, I would not have had this reference. Second, had I not been steered to a repayment plan that does not address my financial needs my payments would have been postponed for up to a year ( not 60 days ). It is extremely discouraging and frustrating that even after my first formal complaint when I call with questions about repayment options I continue to be misinformed and steered towards a option that does not help me, but rather causes harm. As a XXXX person, I try my best to simplify transactions so as to keep me in good standing. I would not have missed any payment had the payments been postponed under a program that I so clearly qualified for and should have been given the option to over the phone. I can not begin to list the ways the negative reporting has and continues to affect me. Simply saying that this has been addressed and providing a copy of a letter never mailed is not a tangible solution. A true and meaningful way for Navient to solve this is to reach out to me via phone or email and ask me about my financial situation and correct the negative reporting. As early a XX/XX/XXXX I would have been approved for a 12 month payment suspension and clearly this would still be effective today. My XXXX benefits continue to be my only source of income since XXXX of XXXX. It does not make any sense that I would miss a payment or payments without first addressing Navient about my financial information and XXXX XXXX/XXXX XXXX.
Company Response:
State: NY
Zip: 10461
Submitted Via: Web
Date Sent: 2020-05-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-28
Issue: Dealing with your lender or servicer
Subissue: Don't agree with the fees charged
Consumer Complaint: I attended the XXXX XXXX XXXX XXXX XXXX ( now called XXXX XXXX University ) from XXXX to XXXX pursuing XXXX study and XXXX study in XXXX. I took Stafford Loans ( later called as Federal Perkins loan ) to support myself as the XXXX XXXX offered little or no scholarships and my annual salary as a XXXX was only {$14000.00} and I had to support my wife and XXXX kids. While attending school XXXX XXXX, I worked full time as a XXXX with the XXXX XXXX XXXX XXXX XXXX XXXX from XXXX to XXXX and was licensed as a XXXX XXXX XXXX XXXX. I taught at the XXXX XXXX XXXX XXXX, in under-served areas of the city from XXXX to XXXX, XXXX XXXX. All my student loans were Govt. approved Stafford Loans. I am told that I obtained {$56000.00} as Loan money during the period. During this period I paid installment money for many years as demanded but discontinued when i faced financial hardships. My payment remained irregular. I took a number of deferments as that was the only option that was offered to me. I applied for XXXX Loan forgiveness program twice with supporting documents establishing my credentials as a XXXX serving in under-served Chapter XXXX areas. One of my application for XXXX Loan forgiveness was sent to Sallie Mae Inc on XX/XX/XXXX. ( I have a copy of this endorsed by the XXXX XXXX XXXX XXXX ). I must have spoke a number of times with Sallie Mae and then with Navient seeking to remove the XXXX forgiveness amount that was I was entitled to but all my requests were rejected. On XX/XX/XXXX I spoke to Navient customer service Ms XXXX and then with Supervisor XXXX and finally with senior Manager Mr XXXX.. started from around XXXX and proceeded until almost XXXX. The issue was one of Loan cancellation for XXXX. I was told of XXXX Loan forgiveness program and that I do not qualify for this as I had taken the loans prior to the cutoff period of XXXX. I told them as per the website ( below ) there were two categories for XXXX loan cancellation ... one was the Loan forgiveness program mentioned earlier and second was the XXXX cancellation program. I qualify for this second program as I have put in more than the requisite number of years of service, working as a Tenured XXXX, in a designated low income XXXX district XXXX the shortage area of XXXX. It was confirmed to me that the loan that I had borrowed was the Federal Perkins loan and therefore I do qualify to have my full loan amount cancelled. However, Navient does not want to do it, even though it was the Federal Perkins loans that I borrowed, on the pretext that I had chosen to consolidate the loans and by signing for the consolidated loan and am therefore said to have forfeited my right for XXXX loan cancellation ( This is exactly what the Manager Mr XXXX told me ). I believe this is absurd as it was NOT brought to my notice that doing a consolidation would invalidate my right to take recourse to the given Federal program of XXXX cancellation by virtue of working for 13 years as a full time XXXX XXXX XXXX in a designation low-income Govt. XXXX. The cancellation term ( mentioned on the Navient website when I spoke to Mr XXXX ) stipulated that 15 percent canceled per year for the first and second years of service 20 percent canceled for the third and fourth years 30 percent canceled for the fifth year I would like to state that I have every right to have 65 % ( 15+20+30 ) of my XXXX loan cancelled by virtue of having worked as a XXXX for a total of 13 years in a designated low-income neighborhood. The current statement that is displayed on the Navient website states that the Disbursement Date is XX/XX/XXXX ( This was not the disbursement date as I had taken the amount prior to XXXX. It was the time that they did the loan consolidation ). The Original Principal is now said to be {$56000.00} and the current amount that I owe is said to be a preposterous {$100000.00}. Since last year, now that I am receiving Social Security and my income is low, I am doing the Income based Repayment plan. This is approximately $ XXXX/month and is auto deducted from my checking account. CONCLUSION : 1 ) All my efforts to avail the XXXX Loan forgiveness program, that I was entitled to, failed due to Sallie Mae and Navient refusal to acknowledge my service on fissiparious grounds. They INTENTIONALLY SUBVERTED the program so as to deny the forgiveness amount. 2 ) I was offered NO alternative for almost two decades, other than Forbearance, when I faced financial hardships. 3 ) Excessive charges of Interest and fines were added at will that had no validity. 4 ) My repeated payments for many years did not decrease the Principal I SEEK THAT THE LOAN AMOUNT BE CORRECTED AND I AM ALSO PAID COMPENSATION FOR THE XXXX AND XXXX XXXX THAT I ENDURED FROM A FAILURE TO GET THE ISSUE RESOLVED. Thank you XXXX XXXX XXXX XXXX XXXX XXXX XXXX
Company Response:
State: NY
Zip: 11204
Submitted Via: Web
Date Sent: 2020-05-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-28
Issue: Struggling to repay your loan
Subissue: Problem lowering your monthly payments
Consumer Complaint: I am XXXX years old and struggling to make payments. I've been paying on this loan for a nymber of years ( over $ 300/mo ) and despite all efforts can't seem to get relief. Despite all my payments, the loan amount has only decreased about {$600.00} in the last 8 or 9 years. I've tried to get into my account to get more specific information but with all the changes they've made I can't even seem to be able to log into my account now. I've spoken to them in the recent past and was not able to get any satisfaction. Please help me by letting me know what I should do.
Company Response:
State: MO
Zip: 65810
Submitted Via: Web
Date Sent: 2020-05-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-27
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: I took out a private student loan through Navient ( Salle Mae ) in 2008 to pay for XXXX school at XXXX XXXX XXXX XXXX ( sit for the CA State Bar ). I was fraudulently admitted to XXXX XXXX XXXX XXXX ( I lacked XXXX credits at the time ), paid for four years of school and the school was closed due to the improprieties of the dean. I initially sought counsel, but was told I shouldn't throw good money after bad because I would never collect from the Dean. The units are worthless as I have not been able to transfer any units, so I have been paying on this loan for years for nothing. At one point, I had trouble paying my loan and Navient forced me into a forbearance, which added another $ XXXX or so to my loan. shortly before Covid broke, I reached out to Navient in attempt to resolve my issues. Basically, they gave me the XXXX. I was furloughed due to Covid and they REFUSED to modify my loan in any fashion. The only student loans XXXX XXXX XXXX XXXX offered were private loans. I wish I had known then what I know now. Private student loans seem to be the only financial service where there is no risk for the lender. Navient must be run by a group of lackeys that can't hack it in the real world, while collecting millions in compensation. I am not aware of any financial institution where the lender will not work with the consumer, especially in unique cases of fraud, job loss, etc. I have an Amicus Curiae letter drafted that will be circulated to the XXXX XXXX in your pending lawsuit against Navient.
Company Response:
State: CA
Zip: 92078
Submitted Via: Web
Date Sent: 2020-05-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-27
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: Navient provided incoherent response to my previous complaint. Company 's Response Thank you for reaching out to the CFPB with your concerns regarding your student loan account. Our records confirm that your Income Based Repayment ( IBR ) renewal was processed on XX/XX/2020 ; however, in response to the impact of COVID-19, on Friday, XX/XX/2020, President Trump announced that the U.S. Department of Education ( ED ) will waive interest on all federally held student loans and automatically postpone payments through XX/XX/2020. Your interest rates have been reduced to 0.00 percent during this period. Interest that accrued prior to the suspension will remain your responsibility. During this time, no payment will be due. This forbearance will not count against your voluntary forbearance time. Although you will not be required to make monthly payments during this specific administrative forbearance period, payments you would have been required to make under IBR through XX/XX/2020 will count toward loan forgiveness provided all other qualifying factors are met. If you choose to make payments during the administrative forbearance period, you may do so ; however, youll need to make those payments manually ( not through auto debit ). Well communicate with you in XXXX to help prepare you for XX/XX/2020, when the 0.00 percent interest rates and administrative forbearance period ends. Theres no other action needed, unless you want to opt out of the administrative forbearance weve placed on the account. If you want to opt out, well remove the administrative forbearance and youll be required to make monthly payments. The 0.00 percent interest rates will remain in effect, will not be charged interest through XX/XX/2020, whether the forbearance remains in effect or not. Navient unilaterally assumed I did not want to start making payments on my IBR plan. Their assumptions ARE INCORRECT. SEND IBR PAYMENT AMOUNT DUE NOW!!!!!!!
Company Response:
State: CA
Zip: XXXXX
Submitted Via: Web
Date Sent: 2020-05-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-27
Issue: Problem when making payments
Subissue: You never received your bill or did not know a payment was due
Consumer Complaint: I was shocked when I reviewed my credit report and found 120 days late payment on the dates XX/XX/XXXX to XX/XX/XXXX, XX/XX/XXXX to XX/XX/XXXX, XX/XX/XXXX to XX/XX/XXXX. I am not sure how this happened, I believe that I had made my payments to you when I received my statements. My only thought is that my monthly statement did not get to me.
Company Response:
State: GA
Zip: XXXXX
Submitted Via: Web
Date Sent: 2020-06-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-27
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: I started repaying my student loans after a divorce and getting settled in to a home with a steady job in 2007 when I could afford it. I was contacted by Sallie Mae to get on a repayment plan. They told me I would pay it off quicker if I had an automatic deduction from my account. I agreed. They started deductions and 13 years later I have paid them over {$49000.00} for a loan with penalties totaled less than {$32000.00}.
Company Response:
State: TN
Zip: 380XX
Submitted Via: Web
Date Sent: 2020-05-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A