Consumer complaint received 2024-05-02
Product: Student loan — Private student loan
Issue: Dealing with your lender or servicer — Received bad information about your loan
Company: Navient Solutions, LLC. (TX)

Navient violated consumer protection laws by engaging in unfair and deceptive servicing and collection practices as Sallie Mae. My loans originated with Sallie Mae and were eventually transferred to Navient. Navient originated predatory subprime private student loans for XXXX XXXX XXXX. The now defunct, XXXX XXXX XXXX had low graduation rates and knew I had low credit scores and lacked sufficient income to repay the loans. Navient made the risky subprime loans anyway. XXXX XXXX XXXX claimed it would be easy to transfer credits to other schools, and I would experience a valuable academic experience. I went into debt to attend XXXX XXXX XXXX, believing that its programs would lead to a promising career with a high salary, but these promises were outright lies. Recruiters preyed on my vulnerable situation, saying whatever was necessary to sell XXXX XXXX XXXX. As a result, I am saddled me with a lifetime of devastating debt. When I could not pay my student loans, Navient steered me into costly long-term forbearances, to bring my account out of default and maxed out my forbearance which forced me into repayment which any chance to take future forbearances or deferments for the remaining life of the loans. Navient did not counseling me about the benefits of more affordable income-driven repayment plans. The interest that accrued because of XXXX forbearance steering practices added to my loan balances, pushing me further in debt. 

The Original Private Loan Principal amount was {$6000.00}. Over the life of this loan, I have paid over {$28000.00}. As of XX/XX/XXXX, the Current Principal {$7500.00} with a current Variable Interest Rate of 18.50 %. In XXXX, I was granted federal loan cancellation of XXXX federal student loans by the Department of Education loans by filing Borrower Defense to Loan Repayment Applications alleging school misconduct. The Department of Education discharged my federal loans because of the pervasive and widespread nature of ITTs school conduct. 

There was private loan debt relief for private subprime student loans ( made to borrowers with low credit scores ) through Navients predecessor, Sallie Mae, between XXXX and XXXX, for borrowers that attended for-profit school XXXX XXXX XXXX XXXX as it had been subject to state or federal law enforcement actions but I was not included in that relief. There was also private loan debt relief for private subprime student loans relief for Navient borrowers that filed bankruptcy and did not recertify their debt. I filed Navient private loan debt in a Tennessee XXXX XXXX bankruptcy court and did not recertify this debt. However, I was not included in that relief. I filed a couple of school closure discharge forms with Navient but they were denied with a reason given. 

I contacted Navient requesting an application for school misconduct discharge but was told if I qualify, they will mail out a form in the future. I am aware they are currently sending out school misconduct applications to other borrowers, I have not received one. I should be given a fair chance to file a school misconduct application for these XXXX XXXX XXXX private loans and given relief as there is plenty of known data and settlement relief info about XXXX XXXX XXXXXXXX XXXX misconduct.