Consumer complaint received 2020-08-15
Company: Navient Solutions, LLC.
State: IN
Product: Student loan
Sub-product: Federal student loan servicing
Issue: Dealing with your lender or servicer
Sub-issue: Don't agree with the fees charged

Complaint:
In XXXX of XXXX, I stopped making payments on my student loan because of the COVID19 Pandemic. It was my understanding that under the CARES Act, Navient would not charge me with any Interest. I stopped paying Navient after my XX/XX/2020 payment was processed. At that point, I was CURRENT on my Student Loan. 

Between XXXX, XXXX  and XX/XX/2020, Navient did not MAIL ME as single letter. I've asked them dozens of times to use the USPS and not my email or phone, etc.. My profile currently says " Not signed up to receive emails ''. AGAIN, I DID NOT HEAR FROM NAVIENT FOR MONTHS, I ASSUMED I WAS COVERED BY THE CARES ACT AND THEY DID NOT SEND ME ANYTHING TELLING ME THAT I WAS NOT COVERED BY THE CARES ACT!!! NOT ONE PIECE OF MAIL!!!!!! 

I submitted a payment of {$150.00} on XX/XX/2020 and Navient applied it 100 % of the payment to Interest! Then on XX/XX/2020, they added an additional {$230.00} to my PRINCIPAL as Capitalized Interest. 

Navient told me on a phone call that my Student Loan is a FFELP Loan that is currently owned & serviced by Navient. After  researching my options online, I requested that the ownership of my loan be transferred over to the Department Of Education. Once the " ownership '' of my loan is transferred to the Department Of Education, Navient will still service my FFELP Loan, but I will be eligible for Interest FORGIVENESS under the CARES ACT. 

THIS IS A SCAM!!! NAVIENT SHOULD BE " COMPELLED '' TO EXPLAIN TO EACH CUSTOMERS WHOSE FFELP THEY " OWN '', THAT THE LOAN CAN EASILY BE TRANSFERRED TO THE DEPARTMENT OF EDUCATION!!! 

100 % OF MY PAYMENT WENT TO CAPITALIZED INTEREST DURING THIS GLOBAL PANDEMIC!!! MY TOTAL LOAN BALANCE ACTUALLY INCREASED BY {$230.00} AFTER I MADE A {$150.00} PAYMENT. 

MY COMPLAINT : When I stopped paying Navient on XX/XX/2020, they did not send me a single letter! Also, Navient should be COMPELLED TO TELL CUSTOMERS THAT THEY CAN BENEFIT BY HUNDREDS OF DOLLARS BY SWITCHING THE " OWNERSHIP '' OF THEIR LOAN TO THE DEPARTMENT OF EDUCATION! 

NAVIENT IS MAKING BILLIONS OF DOLLARS OFF THE BACKS OF HARD WORKING AMERICANS LIKE ME!!! INSTEAD OF BENEFITING FROM THE CARES ACT, CUSTOMERS LIKE ME ARE PAYING THOUSANDS OF DOLLARS TO NAVIENT FOR NO ADDITIONAL BENEFIT ... .. 

NAVIENT DOES NOT PROVIDE ANY ADDITIONAL " SERVICES '' TO CUSTOMERS LIKE ME. FOR ACCOUNTS THAT NAVIENT " OWNS '', THEY SHOULD BE FORCED TO PROVIDE SOME ADDITIONAL SERVICE OR OFFER SOME BENEFIT THAT JUSTIFIES THE {$380.00} THAT THEY JUST CHEATED ME OUT OF!!! 

THE CLOCK IS TICKING, NAVIENT TELLS ME IT CAN TAKE " 100 DAYS TO CHANGE THE OWNERSHIP OF MY ACCOUNT '' WHAT A SCAM!!!! 

If you have an FFELP ( Federal Family Education Loan Program ), call Navient and ask that the " OWNERSHIP '' of your account be changed to " Lender : U.S. Department of Education ''. Go to the website they provide and make the EASY CHANGES!! Wait 100 Days and NAVIENT CAN NO LONGER STEAL FROM YOU!!!!!!!!

Company response to consumer: Closed with explanation