Consumer complaint received 2018-05-05
Company: Navient Solutions, LLC.
State: IN
Product: Student loan
Sub-product: Private student loan
Issue: Dealing with your lender or servicer
Sub-issue: Problem with customer service

Complaint:
I have been on a income driven repayment plan for a few years now and every year I call, give them information and every year they tell me, from my information it doesnt sound like you can afford even those payments, how will you stay current with the payments if we place you on the income driven repayment plan? Every year I make all payments on time. 

This year I called to get a good idea of what my payments would be, so I could get approved for a home loan. I was informed every time I enroll in the income driven plan, my payments go up by 5 %. So every year I have to assure them I can make a payment they see I cant afford and every year they are going to charge me more. On top of that, they are now only allowing 6 months of income driven repayment enrollment which means every 6 months no matter my money situation I will have to pay more and more. Being a single mom of XXXX  with no child support is stressful enough. 

This year when I informed them I was buying a home, they instantly decided I no longer needed to be on an income driven repayment plan. The rep I spoke to stated if youre buying a home clearly you have the money to make a XXXX payment. I tried to tell her, the home purchase was a smart move as, rent for 2 bedrooms is anywhere near 800 to 1,500 in this area. My rent now is XXXX and the house payment would be XXXX. She said then you can afford the XXXX. I said yeah but I wont be able to feed my kids. I eventually just requested a manager, who listened and let me get back on the income driven  repayment plan. My payments went up, yet again and again, she said you cant afford this payment either from our calculations, can you tell us how you plan on making them? 

I entered into this private loan under false pretenses with XXXX College, the Rep XXXX, couldnt get me a student loan and advised to get a private loan, dont worry about the interest, as soon as we can get you on a federal loan, Ill resubmit and give these funds back to the private Sallie Mae lender. She never did as she stated and now Im stuck with this loan, which will continue to increase every 6 months, if they still offer this plan again in 6 months. I cant get help and Im at the mercy of Navient or jump on board with a group that offers help but could also be a scam. 

One such offer broke down my student loan payments, which I will submit below. I have paid more on this loan then they disbursed. Ive been paying on this loan for nearly 10 years and I still owe over 23,000.00! They only disbursed XXXX! How is this even legal!? By the time Im done with income repayment plan, I will have paid over 50,000. Because they allow the interest rates to fluctuate. Im beyond frustrated and cant get help because its private school loan. Im glad XXXX went down as I never did find good steady work with XXXX  and they never did really help with job placements or resumes. Then Navient stepped in just to solidify XXXX over the hopeful student trying to better their life. I also found out, getting a good solid paying job in massage therapy where you can actually pay your bills. I honestly believe schools like XXXX and Navient are in on it together and both benefit greatly by XXXX over young adults and getting them into mountains of debt.

Company response to consumer: Closed with explanation