Consumer complaint received 2018-06-17
Product: Student loan — Private student loan
Issue: Struggling to repay your loan — Problem lowering your monthly payments
Company: Navient Solutions, LLC. (CO)

I graduated from high school in XXXX in XX/XX/XXXX. Neither my family nor I hadthe financial means for me to pursue my education, so my aunt promised to help. I was accepted at XXXX XXXX University which is a private college in XXXX XXXX, XXXX.Over the period of time that I matriculated at XXXX XXXX University my financial needs were met by a series of loans. XXXX XXXX University assisted with myobtained financial aid through Navient, ultimately with my aunt agreeing to be a co-signer on the loans. 

We were under the impression that Navient would work with us once I graduated with an amortization plan that I could afford and would ultimately help me to pay my loans off in a timely matter. Unfortunately when I graduated I found this not to be the case. My monthly payments were based on my income and my Aunts income and as I was paying the loans off alone, it was difficult for me to reach an agreement with Navient in which I could afford. In order for me to have the cheapest payment they would accept, which was still above my means at the time, it was a payment they would only put towards the interest and not the principle of my loans. 

I needed the money to obtain my education but little did I know at the time of signing that it would actually be anenslavement, as I have paid over {$56000.00} since my graduation in XX/XX/XXXX and the loan principal is now even higher than when I graduated. Navient has not been cooperative in helping me get my aunt off the indebtedness as a co-signer despite their promises and I can not get the indebtedness restructured so that I will eventually get the loan paid off. 

In an attempt to do so I reached out to Navient to have my aunt removed as the co-signer on the indebtedness. We were informed by Navient that if I made my monthly payments by auto draft, for one year, we could have her removed as co-signer. And in turn would be able to lower my monthly payments, to something I can afford based on my income alone, due to the fact that I am paying the loans off on my own. These payments would also then be able to go towards the principle of my loans instead of just interest. 

Unfortunately on month 12 of the year period I noticed my payment was not auto drafted. As soon as I noticed I called in and made the payment. At this time I was informed that the person I worked with previously had put me on reoccurring payments which only last 11 months. Even though I had called and still made my 12th month payment they said it did not count because it needed to be on auto draft for a year. I appealed this decision, seeing as I had made my payments with no problems for 12 months and it was Navients error that had the payments come out of my bank account incorrectly. Unfortunately Navient did not accept my appeal and I have been attempting to take my aunt off as my co-signer and lower my monthly payment ever since. 

Here are the specifics of my loans : On the following dates I obtained student loans from Navient in the amounts of XX/XX/XXXX {$39000.00} ( loan # 1 ), XX/XX/XXXX {$28000.00} ( loan # 2 ), and XX/XX/XXXX {$25000.00} ( loan # 3 ). I graduated from XXXX XXXX University on XX/XX/XXXX and I have made payments on the loans for the total amounts of {$13000.00} ( loan # 1 ), {$17000.00} ( loan # 2 ), and {$25000.00} ( loan # 3 ). The outstanding balance for loan # 1 now is {$37000.00}, for loan # 2 now is {$32000.00}, and for loan # 3 now is $ XXXX.Which means that since graduation I have paid a total amount of {$56000.00} for the three loans and yet my three loans have gone from me owing {$93000.00} at graduation to me now owing {$100000.00}. Despite my total payments of {$56000.00} since graduation my student loans have actually gone up {$9100.00}. 


The above numbers prove that I continuously make my payments. In fact on loan # 3 I have paid more than enough to pay off my original balance and yet somehow owe more than what the original amount was for. I have made two requests of Navient for the loans to be placed in my name alone. My aunt has recently sought to incur additional financial obligations and her contingent obligation on these loans has been detrimental to her purposes. 

As I have fully complied with their requirements, butthe firm has not released my aunt from my obligations, I am asking for your assistance. 

I also have asked Navient for a new amortization statement under which I would eventually pay off the loans as all prior payments were mostly credited to " interest '' alone and not much on principle. Apparently the customer service department of Navient isn't bound by its promises and we are powerless to resolve the problem without damaging our credit, so we ask for your help. 

Please contact me if you need further information.