Consumer complaint received 2024-06-28
Product: Student loan — Private student loan
Issue: Dealing with your lender or servicer — Trouble with how payments are being handled
Company: Navient Solutions, LLC. (NJ)

I am writing to file a formal complaint against Navient concerning the handling of my private student loans obtained to finance my education at a for-profit predatory school involved in the XXXX XXXX XXXX lawsuit. My details are as follows : I enrolled in XXXX XXXX XXXX ( XXXX XXXX XXXX ) and transferred to XXXX XXXX XXXX XXXXXXXX XXXX XXXXXXXX and financed my education through private student loans serviced by Navient. Since completing my education, I have encountered numerous issues and concerns related to the loans and Navient 's practices, which I believe warrant investigation and action by your office. 

Specifically, my complaints against Navient include : 1. **Predatory Lending Practices** : The school misled students about the quality of education, career prospects upon graduation, and the true cost of attendance. The loans were granted without proper assessment of my ability to repay, and the interest rates were exorbitant. 

2. **Misleading Information** : Throughout my interactions with Navient, I have experienced instances of misleading or incomplete information regarding repayment options, interest rates, and eligibility for loan forgiveness programs.

3. **Servicing Issues** : Difficulty in accessing accurate loan information, frequent errors in billing statements, and challenges in receiving timely and accurate responses to inquiries or requests for assistance. 

4. **Lack of Support** : Despite attempting to work with Navient to explore repayment options or seek relief, I have encountered obstacles and a lack of proactive support in managing my student loan debt.

5. **Impact on Financial Well-being** : The financial burden imposed by these loans has had a significant and detrimental impact on my financial stability and overall well-being. 

Given the significant issues outlined above and the ongoing legal concerns related to the XXXX XXXX XXXX lawsuit involving similar predatory practices, I am requesting that the Consumer Financial Protection Bureau thoroughly investigate Navient 's handling of private student loans associated with for-profit predatory schools. I also request that appropriate actions be taken to protect consumers like myself who have been adversely affected by these practices. 

I started my started my college education at XXXX XXXX XXXX XXXX XXXX XXXX XXXX ), a predatory for-profit school in XX/XX/XXXX. I then transferred to XXXX XXXX XXXX XXXX XXXX XXXXXXXX, another predatory for-profit school, in XX/XX/XXXX. Both of these schools are on the list of schools in the XXXX XXXX XXXX lawsuit. 

This is an explanation of all loans financed/owned by Navient ( Sallie Mae ) that I received to completed my college journey : XXXX XXXX XXXX XXXX XXXX Signature Student - XX/XX/XXXX - {$13000.00} XXXX XXXX - Subsidized - XX/XX/XXXX - {$2600.00} XXXX Signature Student - XX/XX/XXXX - {$15000.00} XXXX XXXX XXXX Subsidized - XX/XX/XXXX - {$2300.00} Total : XXXX Student = {$29000.00} / XXXX  Subsidized = {$4900.00} Transferred to XXXX XXXXXXXX XXXX XXXX XXXX Technology XX/XX/XXXX : XXXX XXXX XXXX XXXX XXXX XX/XX/XXXX XXXX {$1300.00} XXXX XXXX - Subsidized - XX/XX/XXXX - {$3500.00} XXXXXXXX XXXX XXXX XXXX XXXXXX/XX/XXXX - {$5300.00} Navient ( Sallie Mae ) consolidated all XXXX - Subsidized loans into the loan below : XXXX XXXX - XX/XX/XXXX - {$7900.00} Navient ( Sallie Mae ) also consolidated all my private Signature Student loans from XXXX XXXX XXXX with XXXX XXXXXXXX XXXX XXXX XXXX XXXX to get the below loan : XXXX XXXX XXXX - XX/XX/XXXX XXXX {$34000.00} Once I started paying on all my loans after the grace period ended after my graduation from XXXX XXXXXXXX XXXX XXXX XXXX XXXX these are the amounts paid : XXXX Career Training XXXX XX/XX/XXXX XXXX {$5300.00} - paid {$8200.00} ( fully paid off on XX/XX/XXXX ) XXXX Consolidation - XX/XX/XXXX - {$7900.00} - paid {$9000.00} ( XX/XX/XXXX through XX/XX/XXXX ) still owed - {$4900.00} XXXX Private Consolidation - XX/XX/XXXX - {$34000.00} - paid {$27000.00} ( XX/XX/XXXX through XX/XX/XXXX ) still owed - {$19000.00} I paid a total of {$44000.00} on all loans serviced and owned by Navient ( Sallie Mae ) from XXXX through XXXX. I still owed Navient a total of {$24000.00} On XX/XX/XXXX Navient ( Sallie Mae ) convinced me to refinance that {$24000.00} amount through Navient using their own company called NaviXXXX so that I could lower my interest rate. I agreed to this as a lower interest rate sounded good to me. Since XX/XX/XXXX, I have given an additional total payment amount of {$14000.00} as of today. I still owe Navient {$15000.00}. 

The total amount of all loans financed and owned by Navient for schooling was {$47000.00} and have paid from XXXX, to the current day, a total of {$59000.00} and still owe Navient {$15000.00} for a grand total of {$74000.00} when my last payment is due in XXXX. 


I have attached every loan from Navient ( Sallie Mae ) and the payment history for each one of those loans.