Consumer complaint received 2018-05-15
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:
I consolidated a number of Parent Plus Loans in XX/XX/XXXX. The original principal was {$120000.00} as of XX/XX/XXXX. The interest rate was fixed at 6.125 % for 30 years. The estimated monthly payment for all but the last payment was $ XXXX.Because I enrolled in automatic EFT payment, on XX/XX/2006 I was given a reduction of 0.250 % interest on the loan. Thus, as of my first consolidated loan payment on XX/XX/XXXX, my interest rate was reduced to 5.875 % resulting in a reduced monthly payment for the 30 year life of the loan of {$740.00}. Because I paid that amount on time for 36 consecutive months, I received an additional 1 % interest reduction on XX/XX/XXXX. I believe my monthly payment, however, has remained the same. During this entire period, Navient was not servicing the loan and I could go online and get a loan payment history which indicated how much of each monthly payment was interest, principal and additional principal payment. 
I have been attempting to acquire similar information from Navient without success. Today I spoke to a customer service representative and then a supervisor and their responses were unsatisfactory. 
I questioned the information on the " Loan Details '' page of their web site and suggested it incorrectly listed XX/XX/XXXX as the last date of payment on the loan. I told both of them that I couldn't understand how that would be the case if the interest rate has gone down and the payments have remained unchanged. I suggested that if that was the case, I would have been making " extra '' principal payments each month which would further reduce the amount of principal subject to the 4.875 % interest rate and thus the payoff date should be sooner than XX/XX/XXXX. At one point the sales representative said " let me take out my calculator and see if I can figure this out for you. I shouldn't have to call customer service and have them run numbers on the fly. I should be able to go on line and securely review all my transactions with them. 
I asked the supervisor if the web site had a section akin to that which the Federal Government provides and financial institutions all provide on the loans they make which breaks down the principal, interest and added principal payments made each month for the life of the loan. He said such information was not available from Navient but that they would be glad to send me a letter which reiterates what I am already able to see on the Loan Details page on their website. UNACCEPTABLE!!!!! 
I then asked whether I could download a payment history onto my computer to do my own analysis and was told I couldn't. While Navient has no obligation to provide access to the financial planning software XXXX, they are listed as a participating entity. Yet, it doesn't appear they will let me download my own file to check what they are doing with the money I pay hem each month so I can be satisfied it is being handled appropriately. 
All of this has transpired during a period in which I had an earlier complaint about Navient. In addition, they sent me an unsolicited invitation to " refinance '' my loan with them. Why would I ever consider such a move when I am unable to get the most basic information from them about payments they have already received and when the real loan final payment date is? 
I do not feel at all " protected '' as a consumer by Navient 's business practices, I did not choose to do business with them but was assigned to them by the Federal Government when they decided to parcel out the Direct Loans I had taken out to finance my children 's education. Is it the position of the CFPB that it is appropriate for Navient to withhold from me the information I am requesting which banks all over the country and the Federal Government routinely provide? If, so, I would appreciate hearing the basis for such a belief because I find Navient to be exceedingly unfriendly to consumers. 
I would greatly appreciate any information that the CFPB and Navient are able to provide to me. Thank you for your prompt attention to these matters.

Company response to consumer: Closed with explanation