Consumer complaint received 2019-11-13
Company: Navient Solutions, LLC.
State: TN
Product: Student loan
Sub-product: Private student loan
Issue: Dealing with your lender or servicer
Sub-issue: Trouble with how payments are being handled

Complaint:
Hello - My name is XXXX and I have reviewed my student loans with Navient and how my payments was being applied when I started making payments. I've graduated from the University of XXXX   about 10 years ago. As I was doing my research and analysis, for over 3-5 years, my payments were applied to interest and fees rather than the principal. There are instances where payments were applied to interest and very little to principal and vice versa. I've called Navient several times couple of years regarding how my payments are being apply and the customer representative failed to assist. I have paid for my student loans for over 10 years and it should be paid off by year 10. However, as I was doing my analysis, my principal isn't going down because the system are applying most of my payments towards interest and fees and then very little goes towards principal or even XXXX. I called Navient couple of years ago and just gave up. As a customer with navient student loans, if there is a compliance issue around payment systems and failed controls within their payment operations are not adequately effective, an issue should be raised if they were aware or had a good compliance program and should take actions by remediating the issue accordingly. However, I am one of Navient 's customer to be effected by their ineffective payment systems that is set up through system logics and metrics to gain more money on their interest by applying my payments I've made for over 10 years towards interest rather than principal. 

As a customer, I would like to be refunded if my student loans were supposed to be paid off years ago, but was not because of a failed payment system and ineffective controls around the payment system, I would like to know why am I still having to make payments and how will this be corrected on my behalf? In addition, only with the support of CFPB, I would also like to file a lawsuit because it's something like this that a billion dollar company takes advantage of an average consumer to gain revenue and incentives for themselves and executives. Without CFPB support, I will not file a lawsuit. I honestly do not want to file a lawsuit, however, as a young XXXX XXXX  female, I would like to have a voice and be able to put my foot down to companies like this to let them know that it is not ok to harm consumers to gain revenues and incentives for the executives and the company as a whole. It's just not fair. I also work hard for my money as an XXXX XXXX female. The reason wny I had to get a student loan is because my parents came to america in the 1970s as immigrants to gain freedom in America with no money. They ended up with a job in hard labor where they are extremely proud of and the first {$0.00} my mom made, she went to the flea market to buy herself a shirt because she did not have any. After 30+ years in hard labor, she is still at the same company today getting paid $ XXXX/hr. They worked hard to provide for me but was not able to help me as much through college but they tried. This is where they pushed me to get student loans because they wanted me to finish college because they did not want me to have a lifestyle to work in hard labor. They did not want to see me struggle in life working in hard labor like they did. So this is where they pushed me to get student loans so that I can get a college education. 

Thank you, XXXX

Company response to consumer: Closed with explanation