Consumer complaint received 2017-06-27
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. (CO)

I attended XXXX XXXXXXXX XXXX XXXXXXXX from XX/XX/XXXX to XX/XX/XXXX. It was portrayed as a dream school for the aspiring XXXX. I was even told by an enrollment counselor that if I did not enroll the month he wanted me to, I would never be accepted again. I enrolled and was told that I would not have to pay as much tuition since I had most of my general ed credits completed. This was a fabrication. After going through financial aid, I was informed that XXXX does not charge any money for their general ed courses ; they are considered free. My tuition would not be lowered. It would in fact, go up every year by around {$400.00} every two months. Half way through my studies, my loans were totaling just over {$50000.00}. My Mom and I were shocked and discussed transferring out to the state university, XXXX. After looking into this option I was informed that none of my credits at XXXX would transfer anywhere, only the full degree. I had no choice but to finish my degree or waste {$50000.00}. This idea that the degree would transfer would also turn out to be a lie. XXXX lied about their accreditation telling me that if I wanted to get my XXXX 's in the future, I would have no issues and their degree would transfer anywhere. Upon applying to schools for my XXXX 's, no schools would accept my degree because it was nationally accredited and not regionally. This was very misleading and as a first time college grad in my family, we were none the wiser. I finally found one private school that would accept my degree but I would again, have to pay more for tuition because it was another private institution. Before enrolling at XXXX I was also promised that their job placement was 95 % and I would be guaranteed a job that would make paying back my loans " very doable. '' Upon graduating XXXX my Mother, who 's annual salary was {$36000.00}, and I had been approved for {$100000.00} in loans. XXXX placed me in three different contract jobs that each paid {$300.00}. Once these were completed and I made just under {$1000.00}, XXXX ' job placement told me that they considered me 100 % placed and they had no further obligations to me. Just after enrolling, financial aid told me that I needed a cosigner to get approved for the signature loans but once graduated I would be able to consolidate and take my Mother 's name off of the loans. This was also untrue. Upon XXXX I could not get approved to take my Mother 's name off of the loans. Her name is still on the loans and we are preparing to file bankruptcy on them. I have been unable to make a living with my degree in XXXX and owe {$120000.00} on these loans. I now have an additional {$80000.00} for a degree in a field that I am confident I will be able to make a living at and am applying for jobs now. The loans totaling {$120000.00} were the results of predatory loan practices and have strained my relationship with my Mother and my spouse. The loan company, Navient, who holds these loans has never allowed me any flexible repayment options nor income based repayments. They once authorized my interest rate to be lowered so I could make {$300.00} payments on a {$15000.00} annual income. This was only after they demanded that I put my {$500.00} payments on a credit card. Since I can not get approved for a credit card this was not an option and felt ridiculous to have to be put in even more debt to pay debt. I feel that I have no other options but to bankrupt these fraudulent loans ...