Consumer complaint received 2017-04-27
Product: Student loan — Federal student loan servicing
Issue: Struggling to repay your loan — Problem lowering your monthly payments
Company: Navient Solutions, LLC. (NM)

XXXX   XXXX ,  XXXX  through today : I 'm going to start this CFPB Complaint from page #  1/the  beginning for me in DOE/ED,  XXXX   XXXX  now called navient.     I was approved of receiving SS benefits in late  XXXX  sometime after being denied & never appealed. A short time after that I started receiving calls from some alleged collection agencies about my student loans ( I do not know how they were able to obtain a new cell phone # ). Next I started getting US Treasur y Off-set of  15 % of my SS benefits to pay for my student loans ( I guess that was from the DOE/ED ). I applied with the  XXXX  Treasury for the DOE/ED not to get the 15 % since I was homeless. The US Treasury denied the DOE/ED from being able to take out the 15 % & yet the DOE/ED within its  agency & its  Default Resolution Group ( DRG ) still demanded payment to get my student loans out of default. I made the payments with the SS Benefits guess my loans went through Rehabilitation ( whatever that is ) sometime from  XXXX   XXXX  to  XXXX   XXXX . Where I was contacted by  XXXX   XXXX  via  XXXX  Mail they had my student loans demanded me to pay the whole sum total at  XXXX  time, I could not, they demanded I pay at least half of the student loans combined, I could not ( to the best of my remembrance at this time ). I was then told my next option was in my non-understanding the Graduated Repayment Plan ( GRP ) of which I knew nothing about. He told me I could go to  XXXX  & in all the confusion as I have been told by both  XXXX   XXXX  &  DOE/Ed om budsman office I verbally consented to the GRP-NO DOE/ED documents signed for GRP. In the GRP I made the payments & in questioning a lot of things in sallie mae-navient, My questions still remain unanswered.     I 've filed several complaints in the above with  XXXX   XXXX , several " contractors '' within DOE/ED ( FSA, Office of Civil Rights ( OCR ) , OIG, DRG, & O mbudsman Offices ), & what I thought would be foremost in this complaint process unresolved I went to the the DOE/ED-Office of Inspector 's General ( OIG ). Should there actually be an investigation into that I will never know unless I file FOIA & even that will not reveal an investigation into DOE/ED & its contractors.     I 've spent A LOT of my SS Benefits accomodating a  U.S. federal agency when the U. S. Treasury denied the Treasury Off-set of my SS Benefits & in my ignorance spent over four ( 4 ) years of making   payments when I did not need to. Those same 4 years sallie mae-navient misguided, misinformed, mismanagemen t (  employee ), mislead, ... .me in ALL of it. In seeking further assistance with sallie mae-navient about my doing the payment assessments via the website with a zero payment ; they took no further action to further assist me in changing my payments or changing my payment options. I began to feel as though I had to make the payments or else. I was informed of what the debt would  do to my Credit & for me I had already gone through that-it could not be destroyed any worse than it was. It also became a " personal issue '' for some employed within the DOE/ED, US Treasury, &   XXXX     XXXX -navient like I owe them the debt & they demanded payment or they would destroy my credit amongst other things.      I 've been receiving the SS Benefits & homeless while seeking employment. With that it did not seem to matter to  XXXX   XXXX -navient or the DOE/ED employees about my living on the streets while collecting SS Benefits-they ( extracted payment ) wanted the money as though I owed them. Regardless of being on the streets with no food, shelter, clothes like its acceptable for them to deprive me of the Basics in living at all. This came from the verbal threats of " you owe the debt '', " you agreed to make payment  '', 'you consent ed to GRP '', " you signed the prommissory note '', " we forced/manipulated you  XXXX   XXXX  make payment while receiving SS Benefits '', " we do n't care what th e US Treasury denied us abo ut Off-set ; you still owe the debt '', etc without informing me of other options.     In a credit application I recently made after my Income Based Repayment ( IBR ) -Income Contigent Repayment ( ICR ) was done, complete , & ac cepted with navient.     My credit is now reported that I am either making monthly payments of {$200.00} payments or I am currently on the way in the near future of making monthly payments of {$200.00}, while at this time as explained to me from the creditor still shows  XXXX  ( {$000.00} ) payments at this time : BUT the alleged {$200.00} payment increased my debt to income ratio. When I spoke to .. . .. i n  XXXX   XXXX  she stated they ( navient ) have up to 90 days to report to the credit bureau 's NOT FOR ME THEY DID IT IN AN INSTANT-its like navient does not care who they hurt, destroy, damage, delete, annihilate, ... in their contracted business with the DOE/ED.     The credit reports I pulled for myself prior to changing my student loan payments ; navient was reporting a monthly debt of {$150.00}  ( a  bit short of actual payment du e ) & repo rting my monthly payment of {$150.00 } ( a d ollar short of my actual payment made. ) When my IBR-ICR was complete dated  XXXX   XXXX ,  XXXX  I obtained the interest for that da y ( Fr iday  XXXX  ) & found for loan  XXXX  accrued daily interest at {$1.00} & for Loan  XXXX  accrued daily interest of {$2.00}. Over that weekend loan  XXXX  navient added {$.00} cents to the daily accrued interest. On Thursday  XXXX  the daily accrued interest changed for loan  XXXX  dropped to {$1.00} of which a penny is added to that at least  XXXX  times per week. On loan  XXXX  the daily accrued interest went up to {$2.00} daily accrued interest which a penny is added to that loan  XXXX  times per week. I 'm still paying interest on the pennies navient adds to my student loans & that penny is still collecting daily accrued interest. I 'm paying daily compounded interest on the pennies navient adds to my daily accrued interest.       Daily interest amount = ( Current Principal Balance x Interest Rate )  XXXX  Some student loan issuing agencies will make mention of something called the Interest Rate Factor. IRF is simply your interest rate divided by  XXXX . If IRF is used in their calculation, rest assured that they are calculating interest the same they just use a different equation to reach the same number. Here is the equation using the Interest Rate Factor : Monthly interest amount = ( Number of days since last payment ) x ( Principal Balance Outstanding ) x ( Interest Rate Factor ) Loan  XXXX  (  XXXX  * ( 5.25 % ) ) /  XXXX  =  XXXX   XXXX   XXXX ,  XXXX  to  XXXX   XXXX ,  XXXX  is 19 days at {$1.00} interest equals {$29.00} navient showed interest at {$29.00}. The math on this is {$00.00} cents over the accrued daily interest equation.     Loan  XXXX  (  XXXX  * ( 5.25 % ) ) /  XXXX  =  XXXX  same dates & time line is 19 days at {$2.00} interest equals {$51.00} navient showed {$51.00}. ( The numbers in this  XXXX  NOT add up!!! ) Over the weekend of Saturday  XXXX   XXXX  to Tuesday  XXXX   XXXX   XXXX   XXXX  is already  XXXX  cents over plus another penny now  XXXX  cents over the daily accrued interest formula.     Over the weekend of Saturday  XXXX   XXXX  to Tuesday  XXXX   XXXX  Loan  XXXX  accrued  XXXX  cents of interest. Now the account is  XXXX  cents over the daily accrued interest formula. By Friday  XXXX   XXXX  the account is now  XXXX  cents over the alleged &  XXXX  daily accrued interest.     A penny,  XXXX  (  XXXX  ) cent is still being added to my accrued interest on a  3-4  day average of which has been reported already to navient, DOE/ED, &  DOE/ED OIG of w hich nothing has changed or stopped that. Therefore I am still accruing navient 's penny which is accruing daily compounded interest of which I pay for. I 'm basically paying navinet interest on the penny it adds to my loan  ( s  ). I have reported this to DOE/Ed-Offic e of Inspector 's General ( OIG ) of w hich there has not been any response should there actually be an investigation! Guess there is no investigation since navient is still doing the same thing.       Should  XXXX   XXXX -navient be applying the daily interest equation as allegedly indicated : WHY ARE THEY ADDING MORE PENNIES TO MY STUDENT LOANS?     In the mess of this with my Student Loans &   XXXX   XXXX  -navient  XXXX  I did call CFPB & was verbally told they only do " private student loans ''. A few years later CFPB is suing navient from Student loaners/borrowers complaints.