Consumer complaint received 2022-02-17
Company: Navient Solutions, LLC.
State: KS
Product: Student loan
Sub-product: Private student loan
Issue: Dealing with your lender or servicer
Sub-issue: Received bad information about your loan

Complaint:
Several years ago in about XXXX - XXXX I had applied for a student loan thru XXXX XXXX ( Navient ). Thinking I was getting a good student loan to complete school and make a good life for myself. After I completed the loan application I was contacted by XXXX XXXX and told that I only qualified for a loan they labeled " Career Training Loan ''. I thought I was getting a good Federal student loan with a good interest rate. When the loan documentation arrived to me it showed that I had a Private loan with a very high and adjustable interest rate. I was very unhappy so I called to speak with a manager at XXXX XXXX. I was livid when I learned that they gave me a private loan with such a large interest rate. When asked why they gave me such a horrible loan the Manager told me " well you signed the box! '' I was forced to try to move forward coping with the fact that I was completely deceived on my loan. Over the course of Several years while repaying the loan I often dealt with horrific acts of what I call unethical service. Several times I sent a monthly payment in to XXXX XXXX and then later received notice that my payment never arrived and I was charged late fees. In more that one instance I even showed XXXX XXXX my bank statement where they had deducted the money from my account and I even had the check at the bank they had processed. They didn't even acknowledge either of these documents as proof. They made me write them a letter of dispute until the issue could be solved. In my opinion this is the worse company on the planet. They do nothing but lie, cheat and deceive people who are just trying to get money to go to school and make a life for themselves. I am not an expert at reading loan documents but they took full advantage of that and gave me nothing but a loan that made them a killing and kept me in unnecessary debt much longer than should have been allowed. This entire experience had deceit written all over it from day one. XXXX XXXX should be dissolved and banned from ever practicing business in the XXXX. I am hoping this helps prosecuting all involved in such unethical practice. Those of us who wasted our time and money on such deceitful loans deserve to be compensated for our over payments and ridiculous interest rates. Another problem I often had for several years was that fact that I could never understand why I didn't receive any Tax info from XXXX XXXX during tax season. I was always told by XXXX XXXX that they weren't required to send me tax info for tax purposed because my loans didn't qualify for any tax deduction. At one point I even got the IRS involved and wrote a letter to the IRS to get their authorization to investigate the situation with XXXX XXXX. That's when I learned thru the IRS that " private loans '' were the reason I didn't receive any tax information on my loans from XXXX XXXX. Just one more example of the crooked way they do business. Every year I would have to print off my own payment schedule with XXXX XXXX and submit it thru my accountant at XXXX time. This was the only way I could prove what School loan interest I paid. Because of this inconvenience, every year I could not even efile my returns. I had to file a paper return every year until my loans were eventually paid off.

Company response to consumer: Closed with explanation