Consumer complaint received 2017-05-23
Product: Student loan — Private student loan
Issue: Struggling to repay your loan — Problem lowering your monthly payments
Company: Navient Solutions, LLC. (FL)

I have been struggling with private student loans that were initially given to me by XXXX XXXX between XX/XX/XXXX and XX/XX/XXXX, and now are being serviced by Navient, with what would be almost {$2000.00} a month for a minimum payment. I am still in good standing as I have n't defaulted from my private student loans as I want to honor my agreement, but I have been treated very unfairly. I have always been an XXXX and was sold into the dream of making a living as being an XXXX. I was initially given the first loan for a private XXXX college, when I was XXXX years of age, with no credit ( not bad credit ) but no credit really established. I was sold on the romantic dream of being a successful XXXX, and that going to college was the best way to do so. XXXX XXXX was the only one that  I found that was willing to give me loans for most of my college costs, which by the time I graduated in XX/XX/XXXX, I had {$90000.00} or more of student loan debt accumulated. I am thankful for the opportunity to attend such a nice school, but I know very well now I never could have afforded it. Since then, my private student loan total has compounded to over {$150000.00} in debt. The interest ranges from 6.5 % on one loan, from 10.5 %, and 15 % on the largest loan which is now over {$55000.00}. There was a point a few years ago, shortly before XXXX XXXX transferred my loans to Navient, that I let my loan payments go because at the time the minimum amount was {$1300.00} + per month, and I was working a {$13.00} an hour job. I could n't save money for the future, I could n't afford healthcare, and could n't really do anything extracurricular as I had no discretionary income. Then they offered me what they called 'rate reduction plan ' a month before I would have defaulted, whereas it brought my loan interest down to 1 % temporarily so I could try to get a better paying job. They never offered this option to me before, as I was always in communication with them that I could n't afford my payments. I was always in good standing other than those few months where I just could n't do it any longer. That only lasted so long, until that program stopped, and my payments were almost over approx. {$1500.00} per month. I am newly married, and recently enrolled back into a community college, which is much more affordable, and my wife and I have been working very hard to pay out of pocket as I am hesitant to ever take out loans ever again. I am going back to college in the hopes of making a better profession as a XXXX XXXX and try to be able to pay my loans monthly and also make a living. In the meantime, my loans are in deferment, but my private loans are growing exponentially due to the unfair interest rates, and Navient does not want to offer me any reasonable reduction. I have tried everything from constant communication, to random companies, and up until now I just saw that there was a large lawsuit against Navient and saw an article of another young woman that seems to be in a similar situation as myself. I believe I fall into that category of being wronged, and that Navient could and should give me a reduction in interest, as well as lower the total amount that has almost doubled since graduating. I believe I should pay back what I foolishly agreed to, and a company is entitled to earn some interest off of it, but what they are doing to me is suffocating. The main reason why my wife and I have n't started a family is that I refuse to raise children in poverty, because student loans have literally enslaved us.