Consumer complaint received 2017-03-17
Product: Student loan — Non-federal student loan
Issue: Can't repay my loan — Can't decrease my monthly payments
Company: Navient Solutions, LLC. (NJ)

I had graduated from XXXX University with my XXXX in 2013. My father had co-signed for my loans, to which once I graduated, the payments started piling up. We have tried to find answers as to why the payments were astronomically high and why they have not reflected an accurate amount, except we have not received any answers. My interest rates are unreasonably high, everywhere from 3 1/2 % to 9 % ( with the higher amounts having higher interest rates ). My father has been making the payments for my sister and I since we are not able to afford them. I have loans through Navient and XXXX XXXX - the XXXX XXXX one which I have still deferred since I can not afford to pay or ask my father to contribute on top of what he already does. We both have excellent credit and extensive experience in the financial industry, but for some reason, we can not get approved to refinance these loans no matter how hard we try. When we ask for answers as to why they are not able to refinance them, we receive run-around answers with no solution, forcing us with absolutely no option except to pay with what we are told. This entire process has made me feel guilty about attending a higher education since the financial burden has taken a toll on my father mentally and physically since we have no options available, no financial relief, no help, no answers and forced to work as much as we can to pay bills. I worked at XXXX XXXX for several months, commuting 1+ hour each way and even trying to pick up small jobs on the weekends to help pay for the loans and other bills. Even though I was working at a great company, I STILL was not making enough money to survive. Out of my salary and trying to pay my father back the monthly payment, I was left with only ~ {$400.00}. My student loan payments through Navient are now XXXX {$910.00} and my XXXX XXXX without deferring are around XXXX {$380.00}. We had a 9 % interest rate loan for around {$35000.00} as well for one loan through Navient, which was recently refinanced. We were told that would be the only one they 're willing to refinance by an outside institution. My father handled the process on that so I am not 100 % sure who he refinanced it with. Living in NJ and with the burden of these loans which were put on our shoulders beyond expectation, we are forced to pay what we are told. I understand everyone has to make money, but what I find truly unfair is that I went to school to earn an education and live the American Dream. I know for the next 10 or so years, I will not be able to afford a house, a wedding, a ring for my girlfriend, or achieve goals any American hopes to afford one day, due to student loans. I want to go back to school to earn my MBA more than anything, however what holds me back are the student loans, the unfair advantage these financial institutions have and the cost of an education. Please help us so we can live our lives normally and I can repay my father. Please! 

Takeaways : - Attended XXXX University - XXXX - Upon graduating, loans and payments did not reflect my tenure or initial expectations to what we were told/agreed to - Tried to refinance with excellent credit 2+ times and were denied with reasons unknown - Interest rates are astronomically high - Unfair advantage for financial institutions - Will be working for years to only pay for my 4 year degree - Will not be able to earn my MBA or attend another college due to the cost of going to school