Consumer complaint received 2024-05-29
Product: Student loan — Private student loan
Issue: Struggling to repay your loan — Can't get other flexible options for repaying your loan
Company: Navient Solutions, LLC. (TN)

Thousands of students were scammed by Navient into taking out predatory private loans to attend for profit online schools such as the one I attended, XXXX XXXX XXXX XXXX  XXXX. As a matter of fact, XXXX XXXX XXXX have shuttered all their doors and have been found guilty of illegal recruiting practices, consumer fraud, and many other violations. ( https : //www.justice.gov/XXXX ) My degree, which sunk me into over XXXX XXXX and XXXX XXXX dollars in student loan debt, is essentially worthless and has caused complete havoc and hardship in my life since I started chipping away at them over XXXX  years ago with all of my payments just going towards interest. I will die with these loans if something is not done. 

Because of the numerous claims of fraud and misconduct perpetrated by XXXX XXXX XXXX my federal student loans were forgiven by Dept. of Education under the Biden administration. A total of {$60000.00} was discharged and my credit was repaired. ( https : //www.ed.gov/XXXX ) I am also aware that Navient was sued by XXXX state AGs regarding their predatory loans to attend these for-profit schools and that Sallie Mae/Navient were a `` preferred '' lending company in a " deal '' with these schools during the early 2000 's. These private loans with a high risk of default were part of a package deal offered to " for profit schools ''. But loans made to students in states outside of the agreement, or those who were not in default for 7 months or more during a " specific '' time frame, were excluded. I am sure this was a big win for Navient, but what a sham of a settlement deal for the rest of the borrowers scammed into taking loans to at least XXXX for-profit schools. After the AG settlement, didn't Navient also get out of the Federal student loan business due to scrutiny from lawmakers and borrower advocates? Didn't Navient have to pay restitution to the Federal student loan borrowers for not informing students of IDR/IBR payments students could have enrolled in, but instead steered toward forbearance? Furthermore, hasn't Navient been sued at least a half dozen times for other predatory loan practices and illegal collection practices?

I am also aware of a " pilot '' program by which Navient is sending out " applications '' to select students who may have filed Borrower Defense claims against their schools and were approved. I believe I completely qualify for this application and am confused as to why I have yet to be included. Though I dont understand at this point why I need to prove anything and that Navient knows who we are, I believe I am owed an opportunity to unburden myself with these loans from a scam school. Under the FTC " Holder Rule '' Navient is liable for giving predatory loans in connection with for-profit schools. Time is running out for Navient to do right by students who were scammed into taking out private loans to attend for-profit colleges who have committed misconduct and misrepresented themselves to the public to entice students to enroll. Senator XXXX XXXX has sent a letter to Navient 's CEO asking to discharge these loans NOW! It's time Navient do the right thing and discharge all these predatory private loans made to attend online for profit schools.