Date Received: 2019-10-21
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: I can not list specific dates as I did not document them at the time however, on several occassions I have asked how my payments are being applied as it seems my loan amount has hardly decreased after having been making payments for almost nine years. I entered into the income based repayment option and have been making the same payment amount for almost that entire time. I was told on my last call the interest rate can fluctuate which was a complete surprise to me as that was NEVER mentioned when I entered into the program. I was pretty much told 'too bad '. What they are doing to borrowers should not even be legal.
Company Response:
State: TX
Zip: 76126
Submitted Via: Web
Date Sent: 2019-10-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-10-21
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: This is regarding Navient. I also had a situation where upon completing medical school, I would have to annually set up my IBR and reapply for it. Every time I called them, I would be pushed by representatives to push my loans into forbearance. I am out and refinanced my loan since I didn't trust this lender. It was also very difficult to reach anyone regarding loans. I recall asking for sincere advice and now in retrospect, they acted to keep all loans going as long as possible. It was a horrible experience and I am so happy that this is being taken care of by the CFPB
Company Response:
State: NY
Zip: 10705
Submitted Via: Web
Date Sent: 2019-10-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-10-21
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: Regards to Navient and a statement they made in an article : These documents clearly show that Navient educates our borrowers about income-driven and other repayment options any suggestion otherwise is a distortion of the facts, XXXX XXXX, general counsel for Navient, told the XXXX XXXX. After a nearly six-year legal process, the CFPB has failed to produce a single student loan borrower to support their baseless claims against Navient. They pushed me into Forbearance and also their Income Driven program is a sham. They tried to state that all calculations called for $ 600+ dollars a month. This was out of control.
Company Response:
State: TX
Zip: 77357
Submitted Via: Web
Date Sent: 2019-10-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-10-21
Issue: Struggling to repay your loan
Subissue: Can't get other flexible options for repaying your loan
Consumer Complaint: I graduated from XXXX XXXX XXXX in XX/XX/XXXX with a 2 year XXXX degree in XXXX XXXX XXXX. The degree did benefit me with work from XX/XX/XXXX until the closing of the school in XX/XX/XXXX. Following the announcement of the closing, my job prospects have evaporated. No one has officially stated that my degree is now invalid, but the fact that job offers disappeared seems to be more than a coincidence. In XX/XX/XXXX I contacted the PA Attorney General 's office, requesting that this office please assist me with having my remaining loan with Navient dismissed due to the closing of my school. Ms. XXXX XXXX responded, stating that the Bureau of Consumer Protection had received my request. She continued by informing me of the lawsuit filed against Navient by their office on XX/XX/XXXX for such matters as I was dealing with. We corresponded a couple of times and spoke by phone once. I felt that they understood my issues with Navient and would represent me should I have to also file a lawsuit. Unfortunately contact with the Attorney General 's office ended in XX/XX/XXXX, for reasons unknown. Since XX/XX/XXXX my federal student loan has been deferred under the Income Driven Repayment ( IDR ) plan, accruing interest on a {$10000.00} outstanding loan amount. My monthly payment has been {$0.00} since XX/XX/XXXX. Currently the accrued interest amount on my loan of {$11000.00} is $ XXXX 4.750 %. When I left school in XX/XX/XXXX my fixed interest rate on the remaining balance of {$17000.00} was 2.50 %. Each year that the IDR is renewed, the interest rate is adjusted to the current interest rate. This XX/XX/XXXX I received a notice from Navient that I needed to reapply for IDR or payoff my student loan. I contacted Navient, making them aware of my financial situation and to request that my student loan be dismissed due to the closing of the school and nullified value of my diploma. I was denied a dismissal, but instructed on how to reapply for the IDR. As of XX/XX/XXXX I received a notice from Navient, stating that my IDR had been approved and information would be sent following XX/XX/XXXX. I request that Consumer Financial Protection Bureau please advise in what action I may have available for my situation with Navient, in regard to my dismissing my student loan. Thank you, XXXX XXXX
Company Response:
State: PA
Zip: 15239
Submitted Via: Web
Date Sent: 2019-10-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-10-21
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: I was told by Navient that i was qualified to have some of my students loan debt forgiven after i was employed at the technical school for a period of 5 years. The the school i teach at qualifies because it serves the low income community. At my 5 year mark 2 years ago i sent in all the proper paperwork for my student loan forgiveness. Several months ago they called about my loans and said i was behind. I told them that i was told after i submitted the student loan forgiveness paperwork that i would be recontacted about the loan forgiveness and if there was a remaining balance then i would work out a new payment plan. I ended up taking another forbearance because they pushed me to take on to hold my loans from defaulting and still can tell me the status of my student loan forgiveness. They now tell me they don't know where my paperwork is for forgiveness or the status of my loan forgiveness because its done by a third party. they also can not tell me what third party may have my paperwork or even if it is lost. I am willing to resend it. I have lost trust in this Navient company all they seem to want to do is give me a forbearance or hardship they don't want to work with me to help me find out the status of my forgiveness.
Company Response:
State: RI
Zip: 029XX
Submitted Via: Web
Date Sent: 2019-10-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-10-21
Issue: Struggling to repay your loan
Subissue: Can't get other flexible options for repaying your loan
Consumer Complaint: When coming to Navient about other repayment options because of having financial hardships, I have always been directed towards forbearance. There has never been any income based repayment option offered. So I have chosen forbearance twice now as it is the only option that has been presented as a way of " help '' during this time of financial difficulty.
Company Response:
State: MD
Zip: 206XX
Submitted Via: Web
Date Sent: 2019-10-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-10-21
Issue: Struggling to repay your loan
Subissue: Can't temporarily delay making payments
Consumer Complaint: I've had nothing but bad experiences with Navient regarding my student loan. I am currently behind in my payments because of an emergency move. I can not make any payments until the XXXX of XXXX. However, when I have tried discussing anything with the Navient workers, they've been anything but helpful. I previously had two payment arrangements made but the money was unable to be taken from my account. I have paid {$6000.00} in order to move into my new rental home. I also just started a new job. Navient calls my parents five to ten times per day asking about the loan. They told my father that my loan would soon be going to a third party if I don't pay soon. Yet, when I tell them I can pay on the XXXX, that's not good enough. I literally do NOT have the money until the XXXX. I can pay it at that time. When I contact my federal loan people, they are more than accommodating because they understand that life happens. Everyone I talk to about Navient says the same thing ... that they're horrible and rude. Please, just help me out here. I have every intention of paying this off, but life happened and all my money literally went to moving into a new place. I've even thought about going to the local media to explain my situation ( not that it would do anything ) but I'm so frustrated. AND STOP CALLING MY PARENTS TEN TIMES PER DAY!
Company Response:
State: WA
Zip: 98466
Submitted Via: Web
Date Sent: 2019-10-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-10-20
Issue: Struggling to repay your loan
Subissue: Can't get other flexible options for repaying your loan
Consumer Complaint: Since I graduated with my XXXX in 2013, I have had trouble financially being able to make payments towards my student loans. From being unemployed to having a job, living with more than 5 people in a single household, to now only having a job that makes me {$31000.00} a year before taxes. Navient never puts into account how much I make a month after taxes, and how much I have to pay in bills. I cant even afford to pay for my own health insurance, how can I afford to pay towards student loans. I now owe over $ 100k in student loans after all the interest stacked up. I dont think Ill ever be able to pay this off. My main complaint is that they dont provide support and when you go to make a payment on the due date, they charge you a late fee and then make you also pay for the next months balance. Im furious! How is my payment late if Im paying it on the due date? Thats preposterous! I absolutely refuse to pay for next months payment on top of this months payment. Im barely making ends meat and they have the nerve to try to force me to pay both this month and next months payment? They dont even give me the option to only make the payment for this month. This is wrong.
Company Response:
State: FL
Zip: 33021
Submitted Via: Web
Date Sent: 2019-10-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-10-20
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: Back in the late XXXX 's early XXXX 's I took out loans in the amount of roughly {$13000.00}, then in the late XXXX 's I was contacted by the agency to inform me that I was in danger of defaulting. I was told what I owed at the time and the figures didn't sound right. I was sceptical because I recall that I had only borrowed a little over {$13000.00}, I expressed my concerns because I had been a victim of identity theft. I was told to just do the consolidation to keep from going into default and sort it out later. I haven't been able to sort anything out, since then thousands of dollars have been added to my balance, I have made numerous calls to find out why my balance was increasing but instead of giving an answer I have been bounced from one place to the other. I was told that it must be interest. Then all of a sudden I am told that {$43.00} of compounded interest had been added to my account. Now my balance is over XXXX dollars. For years I have been trying to resolve this all the while not being able to qualify for loans that I've needed, I have had to go to numerous payday lenders and poor credit lenders because I'm told my debt to income ratio is too high. This has caused a severe amount of stress to me, I have also started a small business but do not qualify for any lending products. This is affecting my credit very negatively.
Company Response:
State: CO
Zip: 809XX
Submitted Via: Web
Date Sent: 2019-11-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-10-19
Issue: Dealing with your lender or servicer
Subissue: Don't agree with the fees charged
Consumer Complaint: Sallie Mae has lied about they way my payments were allocated. I was told that forbearance is what I needed instead of a income driven plan. Several of my income driven plans were denied and sallie Mae gave me false information in reference to payment plans. Numerous payment were made and never applied to my loan. I have made several calls in reference to payment history and was told the information was not available. I am currently on a loan forgiveness program going back to XX/XX/2007, I believe I have made the 120 payments. Sallie Mae has sold my loans to navient and then to XXXX XXXX, I believe the interest and fees were falsely added to my loans. Thank you
Company Response:
State: MO
Zip: 640XX
Submitted Via: Web
Date Sent: 2019-10-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A