Consumer complaint received 2017-12-25
Product: Student loan — Private student loan
Issue: Dealing with your lender or servicer — Trouble with how payments are being handled
Company: Navient Solutions, LLC. (MD)

XX/XX/XXXX : My private loan account with XXXX XXXX XXXX XXXX was funded on XX/XX/XXXX for {$98000.00}. The loan is being serviced by Navient. I went to the Navient website on XX/XX/XXXX and applied for auto pay. This entitles me to a 0.25 % reduction in the interest rate on the loan. The rate reduction is an important reason that I applied for this loan. 

On XX/XX/XXXX I wrote to Navient via their website ( see copy attached ) asking when the auto pay would be activated and the amount of each auto payment that will be deducted from my bank account. On XX/XX/XXXX Navient responded to my message ( see copy attached ) saying that my loan is not currently enrolled in auto pay and directing me to their website to enroll. The process they described for enrolling was the same one I had used to enroll on XX/XX/XXXX after  which I printed the confirmation of my enrollment from their site ( see attached ). This confirmation indicates that " Confirmation of your enrollment has been emailed to XXXX '' but I did not receive such confirmation. 

On XX/XX/XXXX I wrote to Navient via their website again ( see attached ) asking them 8 questions about the account, 4 of which related to auto pay for the account. One of those questions was whether they would adjust my interest rate retroactively based on the date of my enrollment in auto pay. Navient responded on XX/XX/XXXX and among other things reiterated that the loan was not enrolled in auto pay. They also stated that my interest rate would not be retroactively reduced based on the date my loan was first enrolled in auto pay. 

On XX/XX/XXXX I wrote to Navient via certified letter through the US Postal Service ( see attached ). I asked why the account is not enrolled in auto pay given their online confirmation of enrollment on XX/XX/XXXX. I also asked when would the account be enrolled. I received a response from Navient dated XX/XX/XXXX ( see attached ) in which they stated that they " were n't able to process '' my application for auto pay because " A complete, signed Auto Pay application is required ; please complete the application and return it to us ''. This was the first intimation I had that a signed form was needed. I filled out the form, signed and faxed it to Navient earlier tonight. I wanted to use the first of the thee options they list in their letter for returning the form, namely " Online ''. However, that option does not appear to be available on their website, hence, I faxed the document. At this point I will not be surprised if they do n't receive it. 

At this point I want Navient to reduce my interest rate retroactively so that it is effective no more than 3-4 weeks after I enrolled in auto pay, i.e., effective between XX/XX/XXXX and XX/XX/XXXX. The facts are that I did enroll in auto pay using the means they provided. If a signed form was needed they should have told me before or at the time I enrolled and provided me with the form. Also, they picked the time frame within which enrollment would be activated. I did n't. 

I would appreciate CFPB 's assistance with prompting Navient to do the right thing in this case. 

Best regards,