Consumer complaint received 2018-05-02
Product: Student loan — Private student loan
Issue: Struggling to repay your loan — Can't get other flexible options for repaying your loan
Company: Navient Solutions, LLC. (IL)

I have been swallowing my pride for far too long, but now my back is against the wall and I feel as though I have no where left to turn. The reason I need help is because of my student loans. I know what you're going to say -- '' everyone has student loans! '' and although that's true, I've buried myself in a larger hole than most. A predatory lender and my school are both to blame for preying on a my nativity. Lets rewind to XX/XX/XXXX. I just graduated from XXXX XXXX high school with a graduating class off XXXX. I grew up in a small town with big dreams of becoming a XXXX. I lived for making sick XXXX XXXX  of my friends and my XXXX  collection was extremly impressive for a XXXX year old. I would spend hours XXXX  and XXXX XXXX  that I was proud of. I knew the only way to progress was to further my education in college. I decided to attend XXXX XXXX XXXX XXXX in XXXX. During my first visit, I was in awe. It was a potential playground for my imagination and skills to grow ( plus the school was partially owned by XXXX XXXX XXXX, so it seemed too good to be true! ). I knew it would be expensive, but I figured it was a good investment for my future. And When I finally landed that dream job that XXXX promised to help me find, my student loans would be no problem. I ended up borrowing a {$50000.00} private student loan from Navient ( you ) for a 2 year education, because that's that only loan options XXXX accepted. It seems like a lot but it was all for a school that promised me the world. During my years and XXXX, I slept of the floor in my friend 's apartment. I ate XXXX XXXX XXXX day old bread with free mustard and ramen noodles every day. It all seemed worth it when I graduated with excellent grades. I felt a sense of accomplishment for being the first in my family to complete a degree. When it was time to venture out into the real world, the potential jobs XXXX promised to help me find were nothing more than entry level minimum wage jobs. I was offered a minimum wage job to be a XXXX XXXX in a costume at their park. I knew that was not going to help me progress in my chosen field let alone pay the bills. I ended up landing a internship on my own accord at a XXXX XXXX. When my student loans started rolling in, they didn't seem so terrible initially. The first payment was {$200.00} for the month, then the next {$250.00}. They kept getting progressively higher until they reached {$2500.00} a month. My internship was ending and I scrambled to figure out what to do next. I found the first job I could at a XXXX XXXX  until I could figure out my next move. I called Navient to figure out what the heck was going on and why my payments kept going up. The interest on this loan was INSANE. I didnt know how loans worked when I initally signed my life away. I had no idea that all student loans were not created equal. I pleaded with them for payment options. Could I extend the amount of time to pay back my loan? Are there any income driven payment plans? What about federal student loan forgiveness programs? All of those questions were quickly shot down with a no. Although Navient ( you ) did tell me I could magically freeze my account with a forbearance by joining the military. They did fail to mention it would still accrue interest during the time is was frozen. With little options and time running out, I signed my life away to the military that same week to make my problems temporarily go away. That has been my life for the past 5 years. I made a huge, life altering decision because I was bullied into doing so. I knew I couldn't run forever and this is starting to finally catch up to me. I knew little about the loans I was borrowing. Because they are PRIVATE student loans, they don't qualify for federal forgiveness programs. And because they are private STUDENT loans, I can't get out of paying for them even if I declare bankruptcy. So I'm stuck between a rock and a hard place. To rub more salt into the wound, I can not continue my education because all the credits acquired at XXXX are utterly useless. They we're an unaccredited school during the time I went. Absolutely no institution of higher education will recognize the credits I supposedly earned. To make matters worse they are now accredited and accept FAFSA. At the time I went, I was assured that accreditation did not matter because how how " prestigious '' there school is. What a load of XXXX. I feel ashamed I let Navient and XXXX take advantage of my younger self. As a kid I was always told college was the way to go so I just assumed I was doing everything right. The worst of it all is that I no longer have the passion and drive I once did for the craft I truly loved. I have made many calls, spoken to lawyers, and I'm finally at wits end. over the past 5 years my loan has jumped from {$50000.00} to nearly {$80000.00}. Starting this XX/XX/XXXX, I will have to pay {$1000.00} a month for the next 15 years making it close to {$150000.00} owed. Thats over 1/3 of my paycheck every month. There is a law that prohibits lenders from charging XXXX XXXX military more than 6 % on any loan, so if I leave the military sooner than 15 years, that could make that {$150000.00} closer to {$200000.00}. I simply can not afford it. If I default on my loans, they can take everything from me. My house, my car, and my credit. This jeopardizes me and my family and I am beyond grateful to any of my friends and family who can help me in any way they can. Although I joined the military out of desperation, I do love my country and I have had a rough yet fulfilling 5 years. I have endured gruling deployments, and sacrificed time with my loved ones. I have grown so much as an adult. I pay my bills, set budgets and don't splurge on things I don't need. I wish so badly that I could go back in time and tell my bright-eyed younger self to not trust the school that once promised me so much. We live and we learn, but some actions have greater consequences than others and this is something that could really demolish my future. I was told that Navient may '' offer me additional help when my forbearance is over. I need to know what that help entails.