Consumer complaint received 2024-06-03 00:00:00
Product: Student loan — Private student loan
Issue: Dealing with your lender or servicer — Received bad information about your loan
Company: Navient Solutions, LLC.
State: MI

Complaint narrative:
Navient has been founded of a number of deceptive and predatory practices, included but not limited to how they have allocated money on private student loans. Those who have not defaulted were not a part of a settlement, yet they were still wronged by Navient, with on time payments and no end in sight. 
Original loan request amount was {$14000.00} for the first student loan in XXXX, ending in XXXX. This loan has been active since then, with a variable interest rate that is set by the lender. The total accrued interest is {$16000.00}, of that {$85.00} is unpaid. While there may show some late payments or fees, this loan was never late to the point that it would show on my credit report. Not all of these late payments were my fault as some were not correctly applied or entered so that I would show a late payment, and a late fee. I have paid more than XXXX % above what my loan was originally requested for, yet the unpaid principal is listed as {$14000.00}, and the current balance is {$14000.00}. How have I paid more than what the original loan amount was listed for, but not have made a dent in the principal? In fact, the {$16000.00}, a {$2700.00} difference from the original loan amount is about XXXX  % higher, and while interest does not always accrue quite like this, how is it that I have only made {$160.00} of principal payments since XXXX when repayment began? This is XXXX years of on time payments, and while I had a rate reduction program, where is the proof that my rate was reduced enough to have made any principal payments? This is just XXXX of XXXX loans. 
Loan from XXXX Original Loan Request {$12000.00} Accrued Interest {$12000.00}, unpaid of that {$76.00} Interest Rate XXXX  % Unpaid Principal {$13000.00}, Current Balance {$13000.00} How is my balance that much higher than the original requested amount, but not in the same way that another loan from XXXX is? That interest rate is lower, but the difference is much larger, which should not be the case. The difference should be smaller, not larger. {$1400.00} is the difference between the current balance and original loan request. This is closer to XXXX XXXX, an entire XXXX  % interest rate lower. Only {$34.00} past original loan amount has been paid in so far in total accrued interest. 

Loan from school year XXXX Original Loan Request {$12000.00} Accrued Interest {$11000.00}, unpaid of that {$72.00} Interest Rate XXXX  % Unpaid Principal {$13000.00}, Current Balance {$13000.00} How is my balance that much higher than the original requested amount? {$1600.00}? Yet I have paid all but {$18.00} of the original balance. 

Loan from school year XXXX Original Loan Request {$13000.00} Accrued Interest {$15000.00}, unpaid of that {$90.00} Interest Rate XXXX % Unpaid Principal {$16000.00}, Current Balance {$16000.00} How is my balance {$3100.00} more than the original request? I have paid more than XXXX % interest, I have paid XXXX  % above the original requested amount.

Company response to consumer: Closed with explanation