Consumer complaint received 2025-09-30 00:00:00
Product: Student loan — Private student loan
Issue: Struggling to repay your loan — Problem lowering your monthly payments
Company: Navient Solutions, LLC.
State: PA

Complaint narrative:
Company Involved : Navient Corporation Loan Details : Type : Private Student Loan Original Loan Amount : {$10000.00} Year of Origination : 2008 Current Loan Balance : {$16000.00} ( estimated as of most recent statement ) Summary of Complaint : I am filing this complaint to formally raise concerns about Navients handling of my private student loan, which I believe constitutes predatory lending practices. Despite making payments for over a decade, my loan balance has inexplicably increased by more than 50 %, resulting in a current balance of {$16000.00}, far exceeding the original amount of {$10000.00} borrowed in 2008. Over the past 10+ years, I have repeatedly requested an explanation for why my loan balance has not decreased despite regular payments. I have also sought alternative payment options that could better fit my financial circumstances. Unfortunately, my requests have been met with inadequate responses, and I have not received a clear breakdown or a satisfactory explanation for the inflated balance. This situation has raised several serious concerns : Lack of Transparency : I have not been provided with a clear, itemized statement showing how my payments have been applied to the principal and interest over time. It is unclear how such a significant increase in balance has occurred. Predatory Lending Practices : It appears that Navients structure of interest accrual and fees is designed to prevent borrowers from reducing their principal balance. Instead, it creates a cycle of debt that prolongs repayment and increases the overall financial burden on borrowers. Failure to Offer Appropriate Payment Options : When I reached out to Navient to discuss repayment options, I was not presented with reasonable alternatives that would help me reduce the loan balance or work toward paying off the debt in a feasible timeframe. This lack of assistance has contributed to the ballooning of my loan balance over the years. Questionable Application of Payments : Despite years of making payments, the principal amount of my loan has not decreased. Instead, I am now faced with an inflated balance that seems disproportionate to the payments I have made. I am hesitant to continue to make payments that will not contribute to a balance decrease and ultimately a timely and affordable pay-off. Resolution Sought : I am seeking the CFPBs assistance to address the following : A detailed and transparent breakdown of my loan history, including all payments made, interest accrued, and any fees charged since 2008. An investigation into Navients practices to determine if my experience is indicative of broader predatory lending practices. A recalculation of my loan balance to accurately reflect the payments made and to reduce the balance to a fair and just amount. The provision of reasonable payment options that will allow me to pay off the remaining balance without further unfair interest accrual or fees. This experience has been frustrating, disheartening, and financially damaging. I believe Navients practices have been deceptive and unfair, resulting in a loan balance that has only grown despite years of diligent payments. I am requesting the CFPBs intervention to ensure that Navient is held accountable and that my loan is recalculated to a balance that accurately reflects my payment history. Thank you for your attention to this matter. I am available to provide any additional documentation or information required to support this complaint. Sincerely, XXXX XXXX

Company response to consumer: Closed with explanation