Consumer complaint received 2018-08-27
Company: Navient Solutions, LLC.
State: WV
Product: Student loan
Sub-product: Private student loan
Issue: Getting a loan
Sub-issue: Confusing or misleading advertising

Complaint:
1. ) Navient created obstacles to repayment by providing bad information, all along the way ; since day one. Essentially, I was given no information, given loans with co-signers, and there was no discussion as to how the debt would/could affect me. I was sold the dream that I would find a dream job after graduation and somehow be able to afford these crazy, high amounts of monthly payments ... Even if I made XXXX a year, how is one supposed to financially survive?? Unless graduates live with their parents for the next 20 years, this is unreasonable. I was lied to and told the repayment would be manageable. 

2. ) Navient failed to act when I complained about the high monthly monthly payments in 2017. They literally gave me no options or routes to take in order for me to be able afford monthly payments. Navient purposely withheld SO MUCH information that was neccessary and required ... Is this not illegal? 

3. ) Illegally cheated a struggling borrower out of my rights to lower payments, which caused/is causing possible over payment of student loans. I was NEVER offered the ability to apply for an Income Driven Repayment plan, or any other type of plan. While in school I was told to fore-bear payments and then when I graduated I was told that there was nothing that could be done, since I had already opted for forbearance previously. I was told the monthly payment is what it is and I need to start paying. I had to jump through hoops to get my IDR processed, and even then I was threatened that if I was late, or dint keep my info updated, I would have to pay my balance in full. My parents ( co signers ) and I sat on the phone with Navient for hours to request an IDR. 

4. ) Deceived private student loan borrower, myself, about requirements to release their co-signer from the loan. See below ( # 5 ) for additional information. I have never been given information about releasing my co-signer, I was specifically told by Navient that this could not be done on several occasions. The last occasion being XX/XX/2017. 

5. ) Harmed the credit of myself, the borrower, and my co-signers without being given adequate information. I was told I HAD to have a co-signer, yet I was NEVER told that this would harm their credit, or that I would never be able to remove them as co-signers. This negatively impacted my co-signers clearance and I was never told that this could happen. 

6. ) Never given information regarding XXXX, co-signers, payment options, etc. Isn't the job of my student loan servicer to help me understand my available options with regard to my student loans??? I even tried to enter a loan forgiveness program but it took such a hard hit on my credit and my cosigners credit I had to opt out. Per clearance regulations, credit is a main factor, this put my job at risk! My livelihood could have literally been stripped away from me and my loan servicer would not have batted an eye or offered help! 

7. ) Navient improperly directed me, on more than several occasions, into forbearance when I otherwise might have qualified for income-driven repayment plans, and did not adequately keep me in informed of IDR deadlines to maintain their eligibility under such plans. Who does that? 

8. ) Navient gave me loans, seeing/knowing that I was likely to default due to lack of income.

Company response to consumer: Closed with explanation