Consumer complaint received 2024-05-25
Product: Student loan — Private student loan
Issue: Dealing with your lender or servicer — Received bad information about your loan
Company: Navient Solutions, LLC. (CA)

Thousands of students were scammed by Navient ( formerly XXXX XXXX ) into taking out predatory private loans to attend for profit schools such as the one I attended, XXXX XXXX XXXX XXXX XXXX  - XXXX XXXX. As a matter of fact, XXXX  XXXX XXXX XXXX XXXX  - XXXX XXXX was investigated by the California Attorney General XXXX XXXX. 
Because of the numerous claims of fraud and misconduct perpetrated by these for profit schools, such as XXXX  XXXX XXXX XXXX XXXX  - XXXX XXXX, I was able to file a Borrower Defense claim with the Dept. of Education against XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX and my Federal student loans of over {$100000.00} are going to be discharged and my credit repaired. When I was enrolled into the program, they told us that our tuition rates would be " locked in '' for the duration of the program, yet I remember at least once, they did implement rate hikes in the middle of my program. After my first year, the school convinced me to ask my XXXX to co-sign for the private loans because my federal loans ran out, and my mother had just passed away so I had no immediate family to turn to. My uncle seemed to feel obligated, I believe, in some way to help me. Not being able to pay these sub-prime loans has put a strain on our relationship due to the credit hit the co-signing has caused. I called and asked to get my uncle released as my cosigner after over 10 years, but Navient said I would have to pay the full amount of the monthly payments, which I could not afford. If the school had not convinced me that my education would come to an end if I did not get these private loans ( which have ballooned to nearly {$80000.00} so far ), my life would be in a much better place. The school also knew that their education would not be sufficient to fetch the salary required to repay the loans, nor job prospects they promised, and I believe Navient also knew this as well. When I was unemployed they refused to work with me to pause my payments or offer any kind of recourse, and while I was barely scraping by with my family they wouldn't even refer me to any type of program to assist me, instead they insisted I nearly make my family homeless paying these impossible amounts, stay indebted forever, and cause unspeakable stress and anguish for years. 
My Borrower Defense Claim was also part of the XXXX XXXX XXXX settlement for which I was a Post-class member. 
I am 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 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 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. This application is a sham. Why do we need to prove anything? Navient knows who we are. Under the FTC " Holder Rule '' Navient is liable for giving predatory loans in connection with online 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. XXXX 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 for profit schools.