Consumer complaint received 2017-09-20
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. (MO)

In XX/XX/XXXX, at XXXX years of age, I embarked upon my journey to become a XXXX and help my community. As the first in my family to attend college, this was a really big deal. Unfortunately, based on my age and my parents lack of experience with higher education, we trusted my university 's financial aid. We were encouraged to use XXXX XXXX to take out loans to cover costs of my XXXX training. I did not have family or friends to cosign after my first loan - yet XXXX XXXX engaged in unethical lending practices by pushing to approve high interest, high sum loans to a XXXX without a cosigner. I had to start working through college and drop out of my XXXX  training. 

Now, at XXXX years of age, as a resident XXXX ( grateful to the state for subsidizing affordable post-baccheloreate XXXX training ), only now can I appreciate the truly disgusting, predatory practices of XXXX XXXX. Their practices are even more out of hand now as I am trying to repay my debt. I have called multiple times, as detailed below, and every time was told they are unable to offer affordable repayment plans until I default. I worked very hard for my excellent credit score and genuinely want to repay my debt despite feeling so taken advantage of by their lending practices when I was a XXXX. Let me clarify - XXXX XXXX was willing to lend an XXXX year old, first to college in her family, who dropped out of XXXX  training, loans at ridiculously high interest rates, in the sums of tens of thousands of dollars. 

I will now outline my attempts at repaying my loans. After graduation ( XX/XX/XXXX ), after rejection from post-graduate programs, I took a job as a XXXX XXXX in an under served community. Around XX/XX/XXXX, my loans went into repayment, and I had to move in with family. Unfortunately, XXXX XXXX, XXXX XXXX, XXXX and XXXX barely totaled enough for me to afford > $ 1000 month payments. I called for my options - only three were given. 1 ) pay " interest only '' at around {$900.00} a month 2 ) pay {$150.00} every three months for forbearance 3 ) default. I opted to pay {$150.00} every three months until I was able to figure out an alternative. I ended up going back to school for post-baccheloreate XXXX studies at state university in XX/XX/XXXX. 

At some point during this time XXXX XXXX turned into Navient. My loans remained deferred while I was in school, as expected. I am grateful this company was at least held ethically accountable for in-school forbearance. 

Now that I have graduated and taken my first position as a XXXX XXXX in training, still with a meager income, Navient is playing the same unethical game. I have called three times between XX/XX/XXXX-XX/XX/XXXX requesting repayment options. Same story as before ; options were unchanged : interest only payments, $ XXXX/3 months forbearance ( for only twice more and then it is no longer an option ), or default and they can consider repayment plans. I again opted for the forbearance in the hopes I could refinance or find another option before tanking my hard earned credit. 

So, despite they fact I am been trying to give Navient my money in a reasonable affordable way, and despite the fact I will essentially being paying them for the rest of my life on a XXXX XXXX  's income, they refuse to allow a payment plan until they default me and report to credit. I now face going into severe debt after XX/XX/XXXX when I no longer qualify to continue the $ XXXX/3 month forbearance option. 

I consider myself an upstanding citizen who wants to contribute positively to my community and served the under served populations in need of healthcare. I would like to afford my rent, groceries, hopefully have a modest wedding and invest in a car or home one day. If my student loan payments will not allow that, then I will take responsibility - and adjust my spending priorities as needed. It is still emotionally painful, exhausting and mentally draining to feel so abused by Navient. I feel violated by their predatory lending practices and even more disturbed by their complete lack of regard for my credit and need for repayment options. I am now in the position where I can afford monthly payment towards at least one of the loans, but unfortunately the others will default. 

I appreciate your time and consideration in this matter. I understand private higher education debt is a large scale, serious national problem right now. I am having no problem repaying my federal debt and will be working loan-for-service in under served communities to repay XXXX XXXX debt. Obviously, the US Government is held to a higher, ethical standard from this regard. I am very grateful. My heart aches as I reflect on the fact I had no clue about private vs. public loan differences at XXXX years of age. I have daily stress and lose sleep at night over my private loans - and I hope my own children ( assuming I can afford to have them in the future ) will never experience this. 

Although my current political work is focused on healthcare for children ; I am also working to become more involved in the politics around higher education loans. Hopefully, there will be an end in sight. 

Sincerely, XXXX