Consumer complaint received 2024-06-04 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: VA

Complaint narrative:
Thousands of students were scammed by Sallie Mae/Navient into taking out predatory private loans to attend for-profit schools such as the one I attended, XXXX XXXXXXXX XXXX XXXXXXXX XXXX As a matter of fact, XXXX XXXX XXXX XXXX on the list of School for student loan forgiveness found here ; XXXX XXXX XXXX I am aware that Navient was sued by 39 state AGs regarding their predatory loans to attend these online for-profit schools and that Sallie Mae/Navient were a `` preferred '' lending company in a " deal '' with these schools during the early XXXX XXXX These private loans with a high risk of default were part of a package deal offered to " for-profit schools ''. But loans made to students in states outside of the agreement, or those who were not in default for 7 months or more during a " specific '' time frame, were excluded. I am sure this was a big win for Navient, but what a sham of a settlement deal for the rest of the borrowers scammed into taking loans to at least 150 for-profit schools. After the AG settlement, didn't Navient also get out of the Federal student loan business due to scrutiny from lawmakers and borrower advocates? Didn't Navient have to pay restitution to the Federal student loan borrowers for not informing students of IDR/IBR payments students could have enrolled in, but instead steered toward forbearance? Furthermore, hasn't Navient been sued at least a half dozen times for other predatory loan practices and illegal collection practices? 

I am also aware of a " pilot '' program by which Navient is sending out " applications '' to select students who may have filed Borrower Defense claims against their schools and were approved. This application is a sham. Why do we need to prove anything? Navient knows who we are. Under the FTC " Holder Rule '' Navient is liable for giving predatory loans in connection with online for-profit schools. Time is running out for Navient to do right by students who were scammed into taking out private loans to attend for-profit colleges who have committed misconduct and misrepresented themselves to the public to entice students to enroll. Senator XXXX XXXX has sent a letter to Navient 's CEO asking to discharge these loans NOW! It's time Navient do the right thing and discharge all these predatory private loans made to attend online for profit schools. 

The interest alone is crippling and I fear I will never pay it off, even with doing double the payments after I refinanced THROUGH Navient. They are claiming that I can't apply for the School Misconduct Discharge due to refinancing. I went through Navient instead of possibly getting a better rate and not getting even more screwed over, because I was hoping we would get some relief from such a corrupt company. We have paid over {$80000.00} on a loan that started at around {$54000.00}. My own mother put off retirement to help pay on these loans, sometimes making interest-only payments just to keep our heads above water. I have fully taken these over and it's crippling as I'm paying more to try to do everything I can to get out of debt.

Company response to consumer: Closed with explanation