Consumer complaint received 2019-06-13
Product: Student loan — Private student loan
Issue: Dealing with your lender or servicer — Trouble with how payments are being handled
Company: Navient Solutions, LLC. (OR)

I, like millions of other students are impacted negatively by Navient 's reckless and predatory policies. I have always paid my loans on time since I began repaying in XX/XX/2015. Now they are sending me emails stating that I can re-up for the income based repayment plan, but when I call them they state that they send that out to everyone and that I have " used up '' my time. I do not make enough money to pay the amount they are asking for, I hold 3 jobs and am taking on more side jobs just to pay rent, and eat. I explain my situation to them, and all they tell me is " Well we suggest you pay your loans because otherwise we will have to get collections on you. '' They have no feeling or idea how this impacts my life. They have a huge lack of repayment options, and when I tell them I make no more than I did 6 months ago, they say I have no options other than forbearance, which to me is NOT an option. Increasing my already HIGH and ridiculous interest rates is something I am not willing to do. Is this the future I face? Holding debt until my XXXX 's or beyond? I will not leave my debt to my spouse, I refuse to marry or have children as this will have a huge impact on their lives if I die with debt. 

The interest rates escalate exponentially every 6 months, and there is no end in sight to how high they may go. I am only bringing in est. {$2500.00} after taxes from my main job, and am required to pay almost {$900.00} to Navient, plus an additional {$170.00} for XXXX. My rent is {$1300.00} plus utilities, plus food. I am barely putting money away to save. I tell them what I spend my money on, and they tell me that I am negative balance, and how can that be? They don't believe my struggle, they think I am lying about how much I am suffering financially. " How can you pay my loans? '' I tell them that I hold other positions and they are variable as they are freelance but I do whatever I can do pay my loans, proofread, graphic design, sell clothes, odd jobs for family or friends. After I explain this to them, they just ask for my mother 's bank information to run her numbers. Well they have already RUINED her credit based on egregious errors they have made in the past when dealing with my sister 's student loans. Even after having her contact them with her info, apparently I have no other options for repayment other than just pay in full or forbearance, which again is not an option and just a ploy for them to get you off the phone. 

What can be done? This is out of control and they need to be put in check. Their employees do not help anyone, and I am so amazed that this evil company can have employees that can sleep at night knowing that they are ruining lives, making people homeless, and putting people in debt until retirement age and beyond. I know because of Navient I will never reach my full potential and obtain my XXXX because even thinking about taking on more loans, or even putting those loans in forbearance while I continue my education adds great stress to my life and makes me angry and sad to think about it. Private loans seem to have NO regulation, and I do not understand why. Navient keeps people down, keeps people in debt, while they rake in the money, and hire people with no souls who clearly do not care about their fellow people or making American truly successful and great.