Consumer complaint received 2024-06-05
Product: Student loan — Private student loan
Issue: Getting a loan — High pressure sales tactics or recruiting
Company: Navient Solutions, LLC. (VA)

In XXXX when I enrolled in XXXX XXXX XXXX  at XXXX, the school encouraged me to reach out to Navient ( formerly Sallie Mae ) for student loans when I did not have the financial ability to cover the tuition. The determination to continue enrollment was based solely on the ability to obtain the student loans from Navient. Without the loans, I did not have the financial capacity to pay the full tuition. Navient encouraged me to apply for a private student loan called a XXXX XXXX. These were predatory loans that Navient and XXXX XXXX XXXX  worked together to encourage me to take. XXXX XXXX XXXX never mentioned there were other options for loans, they directly encouraged me to contact Navient. They also told me they were the easiest to get approved at. The school told me that I would graduate with a degree that would provide me the opportunity to make good money and pay the loans back. They promised that I would graduate, be able to get a higher paying job. This is not the case. I had to leave Hawaii to find a position that paid a low salary but enough to cover living expenses. I was barely able to make any payments to my student loans. Navient never encouraged me to continue to take federal loans with lower rates, they just encouraged me to borrow more and more private loans. 
Once I had secured the loans, the school began requiring me to take additional courses, repeat courses they had originally accepted, claiming they didnt meet their standards, repeat courses that were identical to classes I had already taken, yet they deemed not equivalent. The classes were identical. This delayed my graduation and ensured that I would pay more to the school for classes I had already completed at the school I transferred from.

Sallie Mae knew I was not credit worthy. I did not have a co-signer or a job that paid more than {$20000.00} a year and they still lent me {$36000.00} dollars worth of loans that would compound annually at a rate that was unachievable for a low income person. Navient approved me without much effort. At that time XXXX XXXX XXXX, working at a job that paid minimum wage, I had no credit. Navient quickly approved me for an 11.5 % student loan, sent me a check for {$7500.00} to start the other {$7500.00} would come at another time. Navient never explained that I would be limited to this interest rate even if I was to graduate, obtain a good paying job, and increase my credit score. This was misleading to me. I thought as I was able to obtain higher credit score, my rate could be reduced. This was not the case, nor was this disclosed to me. Navient continued to issue more credit to me despite my inability to make payments, or any foreseeable future employment that would allow me to cover these loans. In XXXX they distributed {$15000.00}, in XXXX they distributed {$8400.00}, in XXXX they distributed {$12000.00} for a total of {$36000.00}. 
They also charged me capitalized interest in XXXX of {$7000.00}, in XXXX capitalized interest of {$2500.00}, in XXXX capitalized interest of {$140.00}, in XXXX Capitalized interest of {$4500.00}, in XXXX capitalized interest of {$480.00}, in XXXX capitalized interst of {$1300.00} for a total of {$16000.00}. 
Upon graduation, when I was able to start repaying the loans, Navient would not reduce the payment amount to something affordable. I struggled for years to pay this. The only option that Navient would offer me was to defer/forebearance with a fee, while the interst still compounded. Navient never introduced me to any payment plans, anything income related, they just encouraged me to file for forebearance. The entire time in repayment, I wasnt really aware of the overall affects of all of these decisions until I needed a security clearance and the security officer encouraged me to consolidate with another company. It was then that Navient offered to transfer me to NaviRefi, their internal refinance company. Navient was then having me pay interest only payments, which ballooned my balance. This was years after struggling to make payment. In XXXX Navient transferred my loan balance of {$42000.00} to XXXX XXXX. This meant that even after years of making payments, I still owed more than I initially took. Navient also made me agree to pay additional time on my student loans, which increased the maximum amount I would have to pay. This was my only option to reduce the interst rate despite having an XXXX credit score for years. Navient also continued to process all payments to my lower interest lower balance loans and left my XXXX Signature Student with a high balance high interest rate. This ensured they would secure the highest interest rate compounded. I have paid over $ XXXX in payments and I still owe $ XXXX. Navient never applied the payments I made to the loans with highest interest rates. This kept my loan balances high on those which had the highest interest rates. 
Navient forced me into the refinance of my private loans after YEARS of charging high interest rates and multiple requests for a lower rate based on current credit score. Navient reused. When I went to find another servicer, Navient conveniently pushed me towards their refinance program. When I asked for the application for forgiveness, Navient then tells me that those loans are not eligible. This is a blatant attempt to keep me from holding them accuntable for their deceptive loan servicing, and their continued mistreatment of borrowers. 
In XXXX this year, NaviRefi transferred my loan without telling me to XXXX XXXX XXXX. 
Navient has, for decades, aggressively collected payments on loans that it knows are eligible for cancellationXXXX40 These predatory loans were given to students at subprime rates, while Navient XXXX with colleges that lied to borrowers about course credits, career prospects, and programs. Under the XXXX XXXX and due to Navient and Sallie Maes misconduct, Navient is liable for these predatory loans and should discharge them immediately. 
Due to all of Navients predatory deceptive measures, I put off major life things such as having children, buying at house, etc. Im now XXXX and in a position to have a child, and being forced to undergo XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Its going to cost me {$40000.00} which It wouldnt have if I had been financially able to when I was younger. These are decisions I had to make because Navient refused to work with me or provide me with lower payments, lower interest rates, or any assistance other than forbearance that added time and financial obligations. 
I am submitting several attachments that include other examples of Navients predatory lending lawsuits that show that Navient has a history of defrauding students/borrowers. 
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