Consumer complaint received 2024-09-16
Product: Student loan — Private student loan
Issue: Dealing with your lender or servicer — Trouble with how payments are being handled
Company: Navient Solutions, LLC. (VA)

I have been paying on this loan for what seems like forever and I decided to perform research to see what the issue is and why my balance doesnt seem to be reducing. I began repaying this loan on XX/XX/XXXX and then took several iterations of forbearance periods due to school enrollments. 

Recently, I noticed that sometimes more than half of my payment is used to pay interest, which is REDICULOUS! After searching for payment allocations for Navients private student loans, I stumbled upon the Navient AG Multi-State Settlement of XXXX. To my surprise, I actually believe my loan was eligible for debt cancellation and I never received any notification or the actual cancellation!

Heres the criteria for the private student loan debt cancellation and restitution and my loan details are in parenthesis : The private loan debt relief will primarily go to borrowers who took out private subprime student loans ( made to borrowers with low credit scores ) through Navients predecessor, Sallie Mae, between XXXX and XXXX, and then had more than seven consecutive months of delinquent payments prior to XX/XX/XXXX. 

( this is me ; loan disbursement says XXXX in the system but I see disbursements from XXXX and there have been XXXX consecutive late payments- XX/XX/XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXX/XX/XXXX ) The debt relief also includes certain other, non-subprime private student loans made by Sallie Mae Bank and certain other lenders between XXXX and XXXX for borrowers to attend specific for-profit schools that have been subject to state or federal law enforcement actions. A list of these for-profit schools is shown in the table below. 
o In many cases, large numbers of federal borrowers who attended these schools have sought cancellation of their federal student loans by filing Borrower Defense to Loan Repayment Applications alleging school misconduct. 

( My school was on this list XXXX XXXX XXXXXXXX ; my Borrower Defense to Loan Repayment Application was approved for my federal loans and they were discharged ) Generally, to be eligible for private loan debt relief, the borrower must have fallen behind on payments by more than seven months at some point before XX/XX/XXXX ( again, my XXXX consecutive late payments were assessed on XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX. ) Generally, only loans that were within a statute of limitations period or still credit-reporting as of XX/XX/XXXX are within the scope of the debt relief ( XXXX STILL paying on this loan and it is still reporting ) To qualify for the Navient settlement, your mailing address on file with Navient as XXXX XX/XX/XXXX, must have been in XXXX of these states : Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia XXXX Florida, Georgia, Hawaii, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nebraska, Nevada, New Jersey XXXX New Mexico XXXX New York XXXX North Carolina XXXX Ohio, Oregon, Pennsylvania, Rhode Island XXXX South Carolina XXXX Tennessee, Vermont, Virginia, West Virginia XXXX Washington, and Wisconsin. 

( I live in XXXX  and I have my whole life ) Now, Im not sure if I was inadvertently left out of the private loan discharge and restitution group, but I believe my case warrants a further look into what has been going on with my account. I have called multiple times over the last few years and I am tiredtired of the run around, the lack of sufficient documentation being sent after I request it and the lack of knowledge around what has happened with my account. 

I recently submitted the application for private student loan forgiveness for school misconduct on XX/XX/XXXX ; it was denied but I wasnt given a reason. Navient simply stated that they dont give reasons for denials but I can reapply using their archaic process. 

Long story short : I have paid a total of {$9900.00} on what seems to be a {$3100.00} loan that STILL has a {$2500.00} balance on it and isnt scheduled to be paid off until XX/XX/XXXX ( and I make more than the minimum payment as well ). This would almost be laughable if it were happening in a movie or some TV show but this is my life and I have been ( and Im still being ) robbed. Im sure there are LOAN SHARKS that would service my account better than Navient.