Date Received: 2019-04-26
Issue: Dealing with your lender or servicer
Subissue: Don't agree with the fees charged
Consumer Complaint: I have been paying my loan since XXXX in the original amount of {$20000.00}. Most of the money I pay goes to the high interest rates which are non-negotiable ( or so it seems that way ). The loan amount was brought down in XXXX of XXXX for {$10000.00} and in XX/XX/XXXX they threw in the capitalized interest of {$1100.00} which brought the total amount to {$11000.00}. The loan was only reduced because I had to dropout of school since I couldn't afford it. Sallie Mae sold the loan to Navient on XX/XX/XXXX for {$9500.00} and I've gotten it down to {$5600.00} since then. What I have paid in the lifetime of this loan so far is {$16000.00} ( Not the exact amount ) which comes out to the lender gaining about {$5000.00} on interest alone. The total amount of what I have paid so far is worth more than what the total original amount was that I was being charged and even the amount when it was sold to Navient. I have tried several attempts every year to call Navient and get a lower interest rate so I could actually make a dent in the loan amount but the answer I always get is that they can't do anything for me because it's a private loan. The only thing they can do is put me into default which will allow me to financially recover for a bit but the interest would continue to accumulate. I've paid more than necessary every single month yet the interest keeps going up and no matter how much I beg to have them work with me, it doesn't change a thing. I went to school when I was XXXX, I'm XXXX now with a family and have debt that is much more important to manage than this private loan yet I can't seem to get anyone at Navient to help me out. The lenders are the same with their unwillingness to work with people even if we're trying to do the right thing and repay them. I've gone from 10 % to 12 % interest in the last year alone and I am starting to pay {$300.00} a month yet I see only a small difference in the principal balance. It's disappointing that people who are trying to get an education in order to have better lives can't seem to do so without carrying the weight with them the rest of their lives.
Company Response:
State: CA
Zip: XXXXX
Submitted Via: Web
Date Sent: 2019-04-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-04-26
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: I learned a few weeks ago some time after my Navient school loans had been transferred to XXXX that Navient reported that in XXXX, XXXX and XX/XX/XXXX that I contacted them and set up payment arrangements which is false. In XXXX, XXXX I was still in school and at that time I was not seeking to make payment arrangements just looking to finish school and I had also had been contacted by the Department of Education regarding the possibility of loan forgiveness due to misleading information from my school. Since XXXX, all of my school loans have been in forbearance due to the loan forgiveness investigation and I have only been waiting to hear how this will end. I have not attempted to set up any payment arrangements prior to after my loans were placed in deferment, forbearance, or under the investigation.
Company Response:
State: MD
Zip: 21208
Submitted Via: Web
Date Sent: 2019-04-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-04-26
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: On XX/XX/XXXX I contacted Navient regarding my 3 private student loans held with their company. My loan has been on interest rate reduction program for the past year and a half. the current reductions rate is 6 % and I pay a payment of {$160.00} every XXXX of the month via payments that are set up by their interest rate reduction program. The payments are split between interest and principal with interest being first. Due to the fixed interest rate each month the amount paid towards interest should decrease and the principal amount should increase. Unfortunately that has not been the case the amounts I pay towards interest and principal vary by large amounts each month. The servicing team could not provide explanation for that. Simply stating they don't have access. Also I have a line on both XX/XX/XXXX and XX/XX/XXXX for a loan sale which added additional interest to my loans and they could not provide answer to that. Another item on XX/XX/XXXX was added on for capitalized interest which should not of occurred. They stated that happens from time to time when full interest isn't paid but each month the full amount of interest accrued should be paid before principal. I was not in forbearance or deferment where I would not of paid interest in full for XXXX. Each time when I try to get clarification from their agents no one has an answer and keeps trying to pass the responsibility to someone else. It is super frustrating dealing with such an incompetent company.
Company Response:
State: MD
Zip: 20904
Submitted Via: Web
Date Sent: 2019-04-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-04-26
Issue: Struggling to repay your loan
Subissue: Problem lowering your monthly payments
Consumer Complaint: On XX/XX/2019 I spoke with a representative before I filed to re-certify my income driven repayment plan with fedloans.gov. I explained to her my situation ... that although I was making more money than the previous year, my financial obligations had also changed. My living situation had drastically changed. I am a single parent with a 4 year old who is starting school in XX/XX/2019, which I have to pay $ XXXX monthly for ( not by choice ) and I also now live on my own paying a $ XXXX monthly mortgage. I was living with my parents before and was not paying rent. I moved out of their house ... now XXXX years old. I could not afford an increase in monthly student loan payments. I was paying about $ XXXX monthly, in student loans at the time. I was seeking some form of financial assistance from the Fedloan.gov student loan representative. She told me there was nothing she could do because I did not have any forebearances left and I made too much money to qualify for a hardship deferment. I in fact had a serious hardship, and was considering defaulting on my loan because of it! This interaction with this representative made me realize why people just give up paying their student loans, and let them go into default. Its bad enough that a loan that started with Navient/SallieMae at {$80000.00} turned into {$190000.00} from just the unfair interest that accrued over a few years ... but when your trying to just keep your payments the same and reasonable so that you can support your family, and you are not given any options ... it makes student loan companies look that much more shameful and abusive. As of XX/XX/2019, Im paying {$620.00} a month towards this horrendous student loan that keeps increasing, although I graduated from college over a decade ago and it has ruined my credit and forced me to consider it not being worth trying to pay anymore, so that I can provide for my daughter and I, without the grotesque hardship it is creating for us.
Company Response:
State: NY
Zip: 125XX
Submitted Via: Web
Date Sent: 2019-04-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-04-25
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: The private loans have co-signers on the account. Navient continues to give inconsistent information to both myself and the co-signer. They are not being helpful with payment arrangements that are fitting for my budget. In 2018, I was enrolled in a program to become a XXXX and I was working as a XXXX. Late payments and missed payments were still reported. I was XXXX in a XXXX XXXX XXXX as well and did not receive any information regarding forbearance, deferring nor possible forgiveness. These loans were given to us and the terms and conditions were not clearly explained nor understood.
Company Response:
State: IA
Zip: 503XX
Submitted Via: Web
Date Sent: 2019-04-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-04-25
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: I began working on another degree in late XXXX. Something about this enrollment and information received by Navient from the school caused Navient to put my loans into deferment without consulting me first. I contacted Navient and instructed them that I had not requested this change and that I did not want my loans in deferment. I requested that my loans be restored to the same terms as before since I had not requested this deferment. I wanted my payments to remain the same and I wanted my principal to interest ratio to stay the same. They assured me that this would not be an issue. They, however, reduced my payments from {$440.00} to {$370.00} which is essentially extending the length of my loan. My principal to interest ratio also changed. Previously, approximately 28 % of my payment was going towards interest. Now, 40 % of my payment is going to interest. I contacted Navient in XXXX and was told, in writing, that my payments would be restored for the XXXX payment. They were not. I contacted them again once I got my monthly notification for the automatic withdrawal and it did not reflect the change. I was told that it was too close to the date and that I would have to call and request this again after XX/XX/XXXX. I called again and was told that the issue needed to be escalated and that they would get back to me in a few days. It has been a few weeks and I have not heard anything. The XXXX payment came out at the reduced rate and I can see on their website that the XXXX payment is scheduled to do the same. I have reached out to Navient several times regarding this issue and can not seem to get this settled on my own. After several attempts, I do believe this is a deliberate act that needs to be investigated by a higher authority.
Company Response:
State: MD
Zip: 21045
Submitted Via: Web
Date Sent: 2019-04-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-04-25
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: student loan amount of {$700.00} was taken out from my bank account but doesn't show on navient account because navient account shows that i only made a payment of {$240.00}. They couldn't figure out where the money went, including the manager. I had to waste 30mins of holding and figuring out with them over the phone.
Company Response:
State: MN
Zip: 55112
Submitted Via: Web
Date Sent: 2019-04-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-04-25
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: I was told my consumer services that they do not have to offer me deferment while I am in school and I have to start making payments. That is was a kindness that not a requirement for the company to offer deferment. I have emailed the company twice as I can not misses any work hours to make a phone call. Refuse to use my legal name and the name under the loans when I do talk to them.
Company Response:
State: CA
Zip: 90405
Submitted Via: Web
Date Sent: 2019-04-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-04-25
Issue: Attempts to collect debt not owed
Subissue: Debt is not yours
Consumer Complaint: I am receiving automated calls several times a day, caller ID indicates Navient or XXXX XXXX XXXX. If the phone is not answered they leave a message stating this is XXXX XXXX XXXX, if this is Ms XXXX, the law requires us to notify you this is an attempt to collect a debt and information obtained will be used for that purpose. The caller ID is XXXX, XXXX, XXXX repeating several times a day. Since its the same message if I hang up without listing to it, it will call back repeating the same daily fashion. I believe I am due damages I have called asked them to stop, they resume calling the next week. This time it is MS XXXX, last time it was
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: OH
Zip: 431XX
Submitted Via: Web
Date Sent: 2019-05-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-04-25
Issue: Incorrect information on your report
Subissue: Old information reappears or never goes away
Consumer Complaint: I have loans with Navient and XXXX which Ive been trying to solve since last year. I have wanted to come to a resolution with my loans but unfortunately someone has filed a class action lawsuit which wont allow me to touch my loans. I cant even pay on them. They have been on my credit report since 2004. They should not be on my credit report after 7 years. I know students who took loans with me in the same year and had the same status as my loan currently is, yet their loans have been removed from their credit report because of the time passed. Please have these loans removed from my credit report. Thank you
Company Response:
State: IL
Zip: 60645
Submitted Via: Web
Date Sent: 2019-04-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A