Consumer complaint received 2015-04-16
Product: Student loan — Non-federal student loan
Issue: Can't repay my loan — Can't decrease my monthly payments
Company: Navient Solutions, LLC. (OH)

I attended XXXX XXXX XXXX in XXXX, Ohio. My parent is the cosigner on my private loan, we were under the impression that without signing for the loans that I could not attend college, they were suppose to give us all of our options to pay for schooling ; but it turned out there were a few federal options and then the rest was Private. Nothing was clearly explained as to the lending and repayment options other than repayment begins after 6 months of graduation. Upon graduating, I found my own job in which I began my repayment and stayed in good standing, I was laid off and asked for financial hardship for repayment, but they charged me ( in which money I did not have ) to put loans into forbearance, and it continued to grow interest. once I found more employment, still not utilizing my degree, I began repayment again, yet they were farely high and I could barely afford to live. I then relocated and began working in my field for the next 4 years before being laid off again, due to Govt contracts and funding ending. I keep on time payments, and conversed often about my financial hardships, but by this time I no longer could defer or pay for forbearance, I exhausted all options and the only thing was to continue schooling in which deferred my loans once more, but once finished I went back to a low monthly payment, until further economic/financial hardship begun, once being laid off again and now being a single parent. My payments jumped up to {$1000.00} a month and I can not afford that. I explained to XXXX now Navient my issues and they seemed to not care, as I spoke with a scripted outsourced XXXX Representative. Frustration has now arised being my co signer is a retired, XXXX yr old widow, whom has taken my child and I back in because I can not afford to survive without any help let alone repay these large repayments back. My cosigner also is in financial hardship due to lack of income from Social Security and XXXX so there is really no options between the both of us. XXXX stated they will not consolidate, so the various amounts of separate private loans and interest rates are eating me alive, every time I seem to make a payment, it 's as if the total does not budge nor change for repayment. I can not find good paying jobs in my field with my degree, hints went back to school to pursue other endeavors, and now working a low paying job to maintain my family and attempt to make payments. XXXX did not tell me that my financial hardship repayment agreement had a time limit on it and as of a month ago my payments reverted from $ XXXX/month now to over $ XXXX/month more that my monthly gross. I now am considered to be late in repayment options now adversely effecting my credit and my cosigners. I am fresh out of options, I have spoken to other lenders for consolidation and they denied me due to credit as well as the rep of the school that I attended, stating that they are loan sharks and they repayment will be hard, they do not want to be involved with that. I can barely pay the amounts I use to pay let alone survive day to day from my income. I took a XXXX % pay cute once I was laid off, there is growth and potential with my company, but until I gain that I need desperate help to minimize my student loan debt. I fear attending anymore schooling and I also tell graduates to not even get involved with loans or even schooling for that matter, due to my horrific experience.