Consumer complaint received 2020-04-01
Company: Navient Solutions, LLC.
State: NY
Product: Student loan
Sub-product: Federal student loan servicing
Issue: Dealing with your lender or servicer
Sub-issue: Trouble with how payments are being handled

Complaint:
Navient has begun ignoring the payment instructions I sent them yet again. The instructions were dated XX/XX/XXXX and were received by Navient on XX/XX/XXXX. This is the SAME PROBLEM I reported in my previous two CFPB complaints about Navient. Navient has repeatedly told me and the CFPB that they WOULD follow my instructions, but continually fail to do so. 

As one recent example, my payment of {$210.00} applied to my loans by Navient on XX/XX/XXXX was allocated as follows : {$19.00} to Loan XXXX, {$100.00} to Loan XXXX and {$91.00} to Loan XXXX. The amount due on these loans were : {$19.00} for Loan XXXX, {$20.00} for Loan XXXX and {$18.00} for Loan XXXX ( total : {$58.00} ). According to my payment instructions, Navient should have applied my payment as follows : {$19.00} to Loan XXXX, {$20.00} to Loan XXXX and {$170.00} to Loan XXXX. All of the {$150.00} extra principal from my payment should have been applied to Loan XXXX, the loan with the HIGHEST interest rate and LOWEST balance. 

I have attached Navient 's loan information sheet as of XX/XX/XXXX that shows their miss-application of funds ( {$100.00} to Loan XXXX and {$91.00} to Loan XXXX ) for this example. 

I've included the relevant payment instructions below that were also included in my previous CFPB complaints against Navient : -- -- -- I am writing to provide you with updated instructions on how to apply payments when I send an amount greater than the minimum amount due each month. Please apply my payments as follows : 1. After applying the minimum amount due for each loan, any additional amount should be applied to the principal balance of the loan that is accruing interest at the highest interest rate. 2. If there are multiple loans with the same highest interest rate, please apply the additional amount to the loan with the lowest outstanding principal balance. 3. If any additional amount paid above the minimum amount due ends up paying off an individual loan, please then apply any remaining part of my payment to the principal balance of the loan with the next highest interest rate and lowest outstanding balance. 4. Do not put any loans into paid ahead status or advance my payment due date. Retain these instructions. Please apply these instructions to all future overpayments. -- -- -- As I stated I would do in my last CFPB complaint, I am now requesting that Navient pay me monetary compensation for the wasted time I have had to spend dealing with Navient 's refusal to follow my instructions. I'm requesting that Navient compensate me for 5 hours of time at $ XXXX/hr ( {$120.00} total ) for my time spent documenting and submitting these 3 CFPB complaints. This doesn't even include the time I spent trying to resolve this directly with Navient before moving on to the CFPB. This is a ridiculous waste of my time and I demand to be compensated. Navient can apply the money to the Principal balance of the loan with the HIGHEST interest rate and LOWEST balance.

Company response to consumer: Closed with explanation