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

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, The XXXX XXXX of XXXX. 
The XXXX XXXX and their Parent company, XXXX were investigated by the attorneys general of several states and have been found to have acted in a fraudulent manner. I have been paying on these loans for years & the barely make any progress due to the extremely high interest rate that continues to change. Currently some of the loans are at a 15 % rate which is insane for a student/education loan. 
Because of the numerous claims of fraud and misconduct perpetrated by The XXXX XXXX, the Biden administration has just announced a blanket discharge for anyone enrolled at The Art Institutes from XX/XX/XXXX to XX/XX/XXXX. 
My Federal loans in the amount of {$98000.00} were discharged and my credit repaired.

I am aware that Navient was sued by 39 state AGs regarding their predatory loans to attend these online for-profit schools and that Sallie Mae/Navient were a " preferred '' lending company in a " deal '' with these schools during the early XXXX 's. 
These private loans with a high risk of default were part of a package deal offered to " for profit online 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 borrowers scammed into taking loans to at least 150 for profit online 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. As of today XX/XX/XXXX I have not been sent or selected for the pilot program. In my honest opinion these loans were obtained in the same exact manner that the federal loans were obtained - it seems fair that they would be treated in the same manner based on the findings of fraud, etc. 
Its my understanding that under the FTC " Holder Rule '' Navient is liable for giving predatory loans in connection with online for-profit schools. 
It seems its time for Navient to do right by students who were scammed into taking out private loans to attend online for profit colleges who have committed misconduct and misrepresented themselves to the public to entice students to enroll. I have been paying on these loans for years now - Navient has collected plenty of my money by now. 
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 NOW!