Navient Solutions, LLC.

2018-11-27

Seattle, WA

Dealing with your lender or servicer

Student loan: Private student loan

Trouble with how payments are being handled
Complaint: I have had two separate but similar issues with Navient that have resulted in them capitalizing interest on my account and it I worry that these issues appear systematic and designed. I am on an IBR plan and have been for the last 8 years. On this plan I have to submit two documents, my taxes and a IBR application, annually to keep my payment plan. In 2016, I submitted both of these documents and was notified shortly after my the expiration of my current loan period that the IBR application I had sent in was the previous years version ( although when I sent it, it was current ). I was informed that my correction was days late and I was left with capitalization. This happened again today. I sent in all my annual paper months ago. When I went to make a payment today I noticed my interested had capitalized yesterday. I called and they informed me that the upload of my document was missing a page. I explained that this error was on their end as my file is complete. I informed them that I could upload the file again today. They replied they the capitalized interest will not be changed. Both of these document issues resulted in approx {$40000.00} of capitalized interest.
Company Response: Closed with explanation

Timely Response

2018-11-27

Madison, WI

Dealing with your lender or servicer

Student loan: Federal student loan servicing

Trouble with how payments are being handled
Complaint: 1 ) Navient provides misleading information to customers about their payments. Every time I made an overpayment, a pop up box would prompt me to indicate how I would like my payment applied. The pop up box was misleading. It said something like " would you like to not have another payment until [ due date approximately two months ahead ] or would you like your payment due on [ next regular due date ]. '' I no longer have an account with them, so I can't exactly recreate the prompt, but it really made it seem like there is a huge advantage to having your payment be due farther in the future. And no advantage to just paying extra and then having your bill come due again right away. The prompt doesn't even include the word principal. And the prompt certainly doesn't indicate that by applying an overpayment to the PRINCIPAL, you will reduce the overall amount of interest that you pay over the course of the loan. This prompt appears to be designed in a self-serving fashion to guide borrowers to continue paying the highest amount of interest, rather than paying down the principal to reduce interest in the future. Other loans I have use a simple radio dial to indicate if you want your overpayment applied to the principal or to cover the next payment. The word principal is always used. This is a balanced and informative choice. Do you want to pay down the principal or do you want to pay ahead on your next regular payment? Every mortgage servicer I have worked with ( several! ) automatically applies overpayments to the principal unless you indicate otherwise. This is standard practice because most people want to pay their loans off faster if possible to avoid paying more interest in the long run. I'm deeply concerned that Navient works with many first-time borrowers who are not experienced with loan payments, and their prompt is worded in a way that is counterintuitive and makes it seem like there is no advantage to paying more now and just having another payment due right away. Of course paying down the principal is a big advantage and all borrowers need to know what principal is, and if they don't know use the word anyway so they will look it up and find out. When I took out a mortgage at age XXXX, I needed to learn about principal. My mortgage lender did not mislead me. They made it clear that if I pay down the principal, my loan will end sooner and I will pay less interest in the long run. A student loan servicer that students are forced to deal with for their federal student loans should be MORE helpful and transparent than a run-of-the-mill mortgage servicer. Not less. I think it's unacceptable that federal student loans are still being processed by Navient considering all the many many many problems they have. 2 ) I also had a lot of trouble getting Navient to disclose how much interest I was being charged each period ( again, something that has been clear as day with every other loan servicer I have ever worked with ). Navient 's interface just shows your balance, what your last payment was, and what the next payment due is. Even after calling their customer service and emailing, it took multiple contacts before anyone could point me to my actual monthly statement which was buried in a nearly impossible to find series of links within links within strangely-labeled links. The process was something like, click on account info, then FAQ, then communications, then summary, then... and eventually somewhere in there the monthly statements can be found. Again, in the interest of transparency, there should be a clearly labeled link called " monthly statements '' or alternatively under documents, the first thing listed should be " monthly statements. '' Burying the monthly statements makes no sense. 3 ) As a final note, when I found a way to refinance my student loans for the exclusive purpose of changing loan servicers, it was difficult to get my loan payoff document. Again, it was buried and required multiple contacts to get my bank the right document. Again, under documents, the last link on the list should be " loan payoff letter '' and it should be easily accessible so that people can escape Navient. It took so long to obtain a loan payoff letter from Navient that my refi application nearly expired before I was able to finalize the new loan. Congress needs to take responsibility for working with a very poor loan servicer and forcing potentially inexperienced borrowers to navigate Navient 's deceptive practices.
Company Response: Closed with explanation

Timely Response

2018-11-27

Rochdale, NY

Incorrect information on your report

Credit reporting, credit repair services, or other personal consumer reports: Credit reporting

Account information incorrect
Complaint: Account number XXXX XXXX XXXX Its mine. My forgiveness loan is with another company. XXXX XXXX XXXX not XXXX. Navient account XXXX shouldnt be in my report anymore. XXXX XXXX XXXX is my provider for my loan forgiveness XXXX account XXXX thats not my account a shouldnt be in my credit report XXXX XXXX account XXXX. I reported the card loss to XXXX XXXX in 2013 along with everything in my wallet. Ive been calling them to make some types of arrangements no response. Please advise!!! I need help with this matter. I am a XXXX XXXX XXXX with XXXX kids. Just wants to fix this matter as quick as possible to move forward. Best XXXX XXXX
Company Response: Closed with explanation

Timely Response

2018-11-27

Perris, CA

Struggling to repay your loan

Student loan: Federal student loan servicing

Can't get other flexible options for repaying your loan
Company Response: Closed with explanation

Timely Response

2018-11-27

VA

Problem with a credit reporting company's investigation into an existing problem

Credit reporting, credit repair services, or other personal consumer reports: Credit reporting

Their investigation did not fix an error on your report
Complaint: On XX/XX/2018 I filed a dispute with mainly XXXX and XXXX XXXX disputing the student loan listed on my credit report. Originally, it was listed as Sallie Mae, then Sallie Mae was changed to Navient. Navient can not prove that I owe this money and I never took out a student loan with Navient. I therefore requested it be removed from my credit report. If they had been able to prove it, they would have taken me to court, which they havent. They have listed these loans as in default and are negatively affecting my credit rating. Im asking that mainly XXXX be investigated for fraudulently listing this on my credit report despite it all being heresay. Thank you
Company Response: Closed with explanation

Timely Response

2018-11-26

Pflugerville, TX

Incorrect information on your report

Student loan: Federal student loan servicing

Account status incorrect
Company Response: Closed with explanation

Timely Response

2018-11-26

Ridley Park, PA

Dealing with your lender or servicer

Student loan: Federal student loan servicing

Received bad information about your loan
Company Response: Closed with explanation

Timely Response

2018-11-26

Ridley Park, PA

Dealing with your lender or servicer

Student loan: Federal student loan servicing

Trouble with how payments are being handled
Company Response: Closed with explanation

Timely Response

2018-11-26

Library, PA

Problem with a credit reporting company's investigation into an existing problem

Credit reporting, credit repair services, or other personal consumer reports: Credit reporting

Their investigation did not fix an error on your report
Company Response: Closed with explanation

Timely Response

2018-11-26

Lutherville, MD

Dealing with your lender or servicer

Student loan: Private student loan

Keep getting calls about your loan
Company Response: Closed with explanation

Timely Response

2018-11-26

Douglasville, GA

Dealing with your lender or servicer

Student loan: Federal student loan servicing

Don't agree with the fees charged
Complaint: On XX/XX/XXXX I was approved for the Income Base Repayment plan. Which I don't have to pay anything until The renewal which is next year, XX/XX/XXXX. I submit this paper work on XX/XX/XXXX, and was approved on XX/XX/XXXX but they still access a late for to me for XXXX. I shouldn't have a late fee because I submit my paper work before XX/XX/XXXX which would have been late at that time.
Company Response: Closed with explanation

Timely Response

2018-11-26

Houston, TX

Dealing with your lender or servicer

Student loan: Private student loan

Trouble with how payments are being handled
Complaint: I am paying my student loan on a biweekly basis. I would like my account to reflex that the account is not charged off.
Company Response: Closed with explanation

Timely Response

2018-11-26

Liberty Township, OH

Problem with a credit reporting company's investigation into an existing problem

Credit reporting, credit repair services, or other personal consumer reports: Credit reporting

Their investigation did not fix an error on your report
Company Response: Closed with explanation

Timely Response

2018-11-26

Brookside, NJ

Dealing with your lender or servicer

Student loan: Federal student loan servicing

Don't agree with the fees charged
Company Response: Closed with explanation

Timely Response

2018-11-26

El Paso, TX

Dealing with your lender or servicer

Student loan: Federal student loan servicing

Received bad information about your loan
Complaint: Navient happened. Approx XXXX, a Navient employee convinced me to consolidate all of my law school loans ( all $ XXXX ) into the XXXX XXXX XXXX loan, telling me I would automatically be entered into the PSLF if I did. I later found out this was a lie, because my loans would be with XXXX XXXX if I had. And my loan balance has increased to $ XXXX. XX/XX/XXXX, I re-certified both my student loans with Navient : XXXX XXXX ( due on the XXXX of each month ) and XXXX ( due on the XXXX of each month ). My payments for XXXX XXXX drastically increased from XXXX {$390.00} to over {$500.00}. XXXX remained the same at {$81.00}. I kept getting e-mails to re-certify my XXXX loans or my payments would go up to {$300.00} beginning in XXXX, putting my total balance owed to Navient - and not counting my bar loan - to over $ 900/mo which greatly exceeds 15 % of my monthly discretionary income. I logged into the appropriate site and found that I re-certified in XX/XX/XXXXXXXX. No re-certification is necessary. Instead, what appeared to have happened was that Navient ignored that I re-certified for the second loan and erroneously sent the recertification notices and improperly charged me for my law school loans. On the afternoon of Friday, XX/XX/XXXX, I called Navient and spoke with XXXX XXXX. I told him the issues and that I can not afford the $ 900+/mo payment. He immediately gave platitudes and I told him to knock it off. I don't want platitudes. His solution was forbearance. I told him this was not a viable option. Then he suggested I roll my XXXX loan balance ( 2.5 % ) into my law school balance ( 6.0 % ) and that would get me a lower rate. I told him XXXX no. That benefits his company, not me. Why would I roll a lower interest rate loan into a higher one? He simply offered to research the issue, but recognized the issue as I described above : Navient failed to properly account for the re-certification. On top of all this, just before calling, I enrolled from IBR to PAYE.
Company Response: Closed with explanation

Timely Response

2018-11-26

HI

Dealing with your lender or servicer

Student loan: Private student loan

Trouble with how payments are being handled
Complaint: I signed a interest only payment for my private loans. I have steadily paged off my loans for 5 to 6 years and my balance has not dropped. I signed a interest only at 12.5 percent and now after 6 months it is up to 14.5 percent. My credit score is higher than it was when I signed the Interest only payments. But they have refused to offer me any other solution to lowering my parents which is XXXX not including my 6 other federal loans. They have only offered me interest only payments and they will not help lower my payments. Federal loans I have gone into income driven payments which has helped tremendously. I have save 200 dollars this way. A month between 5 other loans. I have had bad advice from this company. Early 2000s they had told me to stop paying my payments for 2 months andthe and they will have to offer me a reduced payment plan. Did that and nothing happened. I have been out of school for 11 years and 14 from my.other school. I have yet to make a dent in the loan. I took out a private federal lone of XXXX and now it is up to over 30k. O have ran out of forbearance for my private loans and struggling to may other payments since this is my main loan confer to pay off. When in school my interest rate was set at 19 % my interest did drop to 6 but then jumped up again once I was making headway to paying off the loan. I am exhausting my funds and I am paying close to 800 dollars a month in student loans and I make close to 40k a year. I need some type of relief.
Company Response: Closed with explanation

Timely Response

2018-11-26

Colo Spgs, CO

Dealing with your lender or servicer

Student loan: Private student loan

Don't agree with the fees charged
Complaint: As of XX/XX/XXXX, the total balance due for my student loan, then held by XXXX, was {$6700.00}. A check was sent to pay the full balance of the 2 loans held by them. They sold to XXXX, then was sold to XXXX and finally to Navient, Loan When logging into my account today at Navient, their records show that they didn't even show the payment sent to XXXX in XX/XX/XXXX, as being applied in XX/XX/XXXX. I can no longer log into my XXXX account, to even try to go back to my documents that are supposed to be secure online. I was told that all of my loans had been consolidated when XXXX took them over. I only have screenshots of my account. I do have my last paper statement from XXXX XX/XX/XXXX, before my loan was sold, and it clearly shows there was one loan with a loan type of CON ( consolidated ), with a balance of {$10000.00} at an interest rate of XXXX. I want to know how paying a loan off in full in XX/XX/XXXX, led to an additional balance of $ XXXX. I emailed them to explain that the loan has already been paid in full. After repeated emails and calls telling me they would not correspond via email, I finally called Navient today. After arguing with the agent " XXXX '' from Navient, and not getting anywhere, I paid the balance in full online. This is just one more example of how Americans are being abused by these loan service companies, with no one to represent us.
Company Response: Closed with explanation

Timely Response

2018-11-26

Dealing with your lender or servicer

Student loan: Federal student loan servicing

Don't agree with the fees charged
Company Response: Closed with explanation

Timely Response

2018-11-26

Wichita, KS

Dealing with your lender or servicer

Student loan: Federal student loan servicing

Received bad information about your loan
Complaint: The school promised employment assistance after graduation, which was not true. The school stated that 80 % of all graduating students were offered jobs right out of graduation and that was simply not the case. There were approximately 22 students in my class structure alone and only two of us went on to positions that directly involved our certifications. One of them had an inside connection with the XXXX XXXX XXXX and the other went onto to complete a Nurse 's degree with another institution. During our internships there was one student who was offered a position with a facility, however failed the drug test. XXXX knowing this, sent him back out to another company, only to have the situation repeated. This is one example of how XXXX provided a poor name or reputation of all graduates to the community which in turn offered poor is any job prospects to their graduates. I dedicated almost two years of my life, working forty plus hours a week at a job and then almost another 25 hours to my education. An education that I was proud to accomplish and believed would provide a better future for my children and myself. Being a working single parent of XXXX children, one of them XXXX XXXX, was a daunting experience at times. One that would require a lot assistance from family and friends, so adding an additional 25 hours to the mix was not always an easy task, however nothing worthwhile ever comes easy, right? I always believed in the end I was doing something good for my family, something they could be proud of, something that would enhance our lives, not make it more difficult. Not one of the promises or assurances were true, other than at the end of program I would receive a certificate. However, my certificate is not worth anything more than the paper it was printed on. When prospective employers would hear the words XXXX XXXX, their interest would cease and they would thank us for our time and send us on our way. If this wasnt bad enough in XX/XX/XXXX, we are notified through our local news that the XXXX XXXX XXXX XXXX has permanently shut down the schools in XXXX and XXXX XXXX. So in XXXX of XXXX I start looking for information on my loan programs. While researching my loans, I was referred to XXXX XXXX, who promises that if I am accepted, they will process all the paperwork and work with my current loan providers, through an Obama approved program, to have my loans forgiven, since the school didnt follow through on their promises and also closed their doors. I needed only to pay their processing fees for the paperwork of approximately {$800.00}. I then looked for reviews and tried to do my due diligence in research of the company and of its promises and found nothing negative. Actually there were several very positive responses, so I paid the fees and waited to see if I was approved. About a week later I received notification that I was approved and I would be required to pay XXXX dollars until the loans were fully discharged. That this process can take a few years to complete, but that is just due to the extensive number of clients that are going through the same process and it takes some time. But not worry, that until the loans are fully discharged my payment would remain at XXXX or at the most it might increase to {$50.00} a month. Now I start weighting out the options. Continue to pay the {$75.00} a month I was already paying, until the loans were paid off, approximately {$22000.00}, loans that I never felt were right to charge for in the first place ; or pay {$50.00}, at most a month for a couple of years, approximately {$1200.00} total, and have the loans forgiven? Then in XX/XX/XXXX, 4 short months after I completed the paperwork, I was notified that XXXX XXXX is under Federal Investigation and there is a lawsuit pending. To top it off I start receiving letters in the mail from a company called Navient that is stating I now owe them the {$22000.00}, and my monthly payments are around {$200.00}. When I called them, they stated that XXXX XXXX sold them my loans and all they did was consolidate them for me. This was not what I understood what I was paying for and defiantly not what I was told, and they basically said sorry, what credit card would you like to make that past due payment on? This whole process has been a complete nightmare, as you can see, from the start and I just want to the nightmare to end and wake up.
Company Response: Closed with explanation

Timely Response

2018-11-25

Ansley, LA

Dealing with your lender or servicer

Student loan: Federal student loan servicing

Received bad information about your loan
Company Response: Closed with explanation

Timely Response

2018-11-25

Lk Buena Vis, FL

Struggling to repay your loan

Student loan: Private student loan

Problem lowering your monthly payments
Complaint: Issue 1 : Navient reported account negative and have a forbearance dated on XX/XX/2018. Correct credit report. Issue 2 : I asked for lower payments and still haven't got it reduce per representative. Issue 3 : This account was list in my bankruptcy discharge paper work and they said it would be off my credit. The cosigner is responsible.
Company Response: Closed with non-monetary relief

Timely Response

2018-11-25

MS

Struggling to repay your loan

Student loan: Federal student loan servicing

Can't temporarily delay making payments
Complaint: I believe the amount that the student loans company states that I owe are incorrect.
Company Response: Closed with explanation

Timely Response

2018-11-25

Anaheim, CA

Struggling to repay your loan

Student loan: Federal student loan servicing

Can't get other flexible options for repaying your loan
Complaint: When I exited XXXX school in XXXX I was prepared to enroll in the income based repayment and I knew what I needed to do. It was early XXXX between XXXX and XXXX this took place if I'm remembering correctly, I knew I needed to provide a income statement or a letter stating I was not working as proof of no income. Multiple time Navient told me they did not know what I was talking about and this persisted for months. I had multiple phone calls, but it was not until approximately 3 months in a Navient Employee actually walked me through where on the website I needed to submit the letter stating I had no income. This little fact cost me almost {$30000.00} in capitalized interest. When I'm a XXXX student who had almost {$200000.00} in debt adding an additional {$30000.00} was just demoralizing. I can honestly say I haven't challenged this previously mostly out of embarrassment. This has happened to fellow classmates of mine and companies like Navient are banking on the fact we won't fight it.
Company Response: Closed with explanation

Timely Response

2018-11-25

Santa Monica, CA

Dealing with your lender or servicer

Student loan: Federal student loan servicing

Trouble with how payments are being handled
Company Response: Closed with explanation

Timely Response

2018-11-25

VA

Dealing with your lender or servicer

Student loan: Federal student loan servicing

Received bad information about your loan
Complaint: On XX/XX/2018 I contacted Navient to explain that my current IDR loan repayment plan was based on incorrect assumptions about my income pulled from my joint tax return from the previous year. I was told to redo my application and submit documentation of my actual situation. I was told that my account would be placed in forbearance for 3 months while this was processed while this was processed. On XX/XX/XXXX, I completed my income-driven repayment plan application and submitted it with supporting documentation directly to Navient. On XX/XX/XXXX, I received an email from Navient stating that my interest had been capitalized and my new repayment amount at the end of forebearance would be greater than my previous amount. My complaint is that I was not given the option to continue to pay a specific amount to cover interest and not have it capitalize and accrue - which according to the email now equates to an additional almost {$1000.00} just for this forbearance period. It would seem like the best practice would be to ask the borrower if they would like to pay the interest and not have it accrue and capitalize and add to the principal by such astronomical amounts, just because their formula did not accurately pick up my current income situation.Forbearance sounds like a helpful term, but in this case it only helped the loan servicer, not the borrower.
Company Response: Closed with explanation

Timely Response