Consumer complaint received 2017-02-28
Product: Student loan — Federal student loan servicing
Issue: Dealing with my lender or servicer — Trouble with how payments are handled
Company: Navient Solutions, LLC. (NC)

I borrowed money through XXXX to help our XXXX children attend college. The XXXX Loans were in addition to the small loans our children took out. Initially these loans were serviced through XXXX which later became Navient. My guarantor was XXXX. On XX/XX/XXXX my total disbursement was {$55000.00}. Due to other financial responsibilities I applied for and of course was given multiple forbearances. I was unable to make consistent payments on my consolidated loan until XX/XX/XXXX. From XX/XX/XXXX until XX/XX/XXXX I was charged a total of {$15000.00} capitalized interest and a total of {$880.00} in late fees. 
On XX/XX/XXXX I contacted Navient and they provided a copy of my payment history. My outstanding principle at that time was {$62000.00}. At that time I attempted to speak to a Navient representative but they appeared to not have a financial back ground and they were unable to answer my questions. I was told that there were no supervisors or loan specialists that I could speak with. From the information they provided to me I was not able to " decipher '' exactly how the payment history is recorded with the way they added capitalized interest to the principle column but then subtracted it in the interest column. At no point do they give you a " running '' balance due. Frustrated with the never declining balance despite payments of {$17000.00} from XX/XX/XXXX to XX/XX/XXXX I contacted the Federal Student Loan Ombudsman Program in XX/XX/XXXX for assistance with understanding this loan process. They were helpful and did initiate a case number. Their answer to me was that my loan would be paid off when I die or in the tragic event XXXX of my children dies. Since I initially contacted the Ombudsman 's I have PAID Navient an additional {$3400.00} ( 9 months ). They say my unpaid principal balance as of XX/XX/XXXX was {$60000.00}. If my calculations are half way correct I paid XXXX off my principle. XXXX % of my payments have gone to interest ( {$5.00} a day ). My payments are {$380.00} a month ( {$4600.00} a year ), my interest rate is 4 %. Interestingly for the past several years my Form XXXX always states I have paid {$4600.00} in interest. If that is the case it is costing me {$12.00} a day in interest. ( It appears they are falsifying their XXXX forms, probably in an effort to keep participants from complaining, even though if you itemize your taxes you can not claim more than {$2500.00} in interest. In XX/XX/XXXX Navient reported that my loan will be paid in full on XX/XX/XXXX and I will have paid {$90000.00}, at the total cost of {$35000.00} for borrowing {$55000.00}. I will also be XXXX. 
The only '' good '' ( I am being facetious ) part of this story is that XXXX my children graduated from XXXX college programs, XXXX makes slightly above minimum wage and is happy as a XXXX. Now retired and receiving Social Security I wake up every day knowing I am accruing {$5.00} a day interest on a loan I will never payoff despite trying. This gives new meaning to the phrase " till death do you part. ''