Consumer complaint received 2017-03-22
Product: Student loan — Federal student loan servicing
Issue: Dealing with my lender or servicer — Trouble with how payments are handled
Company: Navient Solutions, LLC. (IL)

I started my loan consolidation with XXXX XXXX in XXXX with a loan balance of {$74000.00}. At this time, I had just finished XXXX school and was hired as a full-time XXXX. I was on a reasonable and affordable payment plan of {$220.00} and paid that amount until XXXX XXXX when my amount decreased to {$210.00}. In XXXX XXXX, I contacted XXXX XXXX to see if there was a way for me to get a lower payment because I had just gone through a divorce and was filing bankruptcy. They told me that my best option was to file for forbearance, which I did. I was in forbearance for financial hardship off and on from XXXX XXXX to XXXX XXXX. During this time XXXX XXXX XXXX to XXXX XXXX XXXX, I made ten payments totaling {$3300.00}. In XXXX XXXX, I resumed my payments under an Income-Driven Repayment Plan ( IDRP ), suggested by Navient ( who had just taken over XXXX XXXX ). This process was long and tedious, but eventually I was approved. Navient did not tell me at the time that I would have to reapply every year. My new payments were {$140.00} and were very manageable for a single mother. I continued to pay these payments from XXXX XXXX - XXXX XXXX. I received a notice in XXXX XXXX that my IDRP was about to expire and I was going to need to reapply. Again, I was not aware this was going to be part of the process. I was encouraged to apply for a temporary forbearance while I waited to be approved for the IDRP to be approved as my payments were going to be around {$800.00} and I informed them we simply could not afford this. I also told them I did n't want to go in forbearance again because of the interest. They were very pushy and seemed annoyed that I still wanted to apply for the IDRP and not just file for forbearance. We ended up paying the first regular payment and I was approved for the IDRP. However, I was informed that since I had remarried in XXXX XXXX and was in a higher tax bracket that my new payment was going to be {$780.00}! Basically, I would save {$20.00} with the plan. It was simply ridiculous. I later came to learn that with the IDRP that there is no " end game '' per say on payments. They informed me that these payments could last for 25-30 years and at that point if there is still a balance the Federal Government may at that point decide to forgive the loan ( again ridiculous ). Navient again tried to talk me into a forbearance, which I refused. I told them I wanted a plan that gave me a reasonable monthly payment amount, was paying off some of my principal, and gave me an end payment date because none of these other plans had done that. Finally, after days of going back and forth and getting the " run around, '' we came to an agreement that did n't end in forbearance. Navient never seemed to want to work with me to help me have a smaller payment. They just seemed to want to do what was " easier '' for them and ultimately made them more money. It was infuriating to say the least. I have paid out {$21000.00} on a loan starting at {$74000.00} as of XXXX/XXXX/XXXX and as of XXXX/XXXX/XXXX my loan balance was {$79000.00} which is {$5400.00} more than when I started making payments ten years ago. It 's frustrating. If nothing else, I would like that amount {$21000.00} taken off my principal, if not more. This entire process has been a nightmare from the start. Navient XXXX XXXX XXXX XXXX is not in the business of helping the consumer. They are in the business of helping themselves. Too many people have been financially abused, taken advantage of, and ruined by this system. Please put an end to this legalized loan sharking. I would appreciate an immediate response to this complaint and I would like action to be taken against Navient. I believe they are involved in illegal loan practicing and should be put out of business.