Consumer complaint received 2025-05-17 00:00:00
Product: Student loan — Private student loan
Issue: Issue with income share agreement — Payment issues
Company: Navient Solutions, LLC.
State: NV

Complaint narrative:
Around XXXX  I decided to try to get a degree in XXXX XXXX I was already working in the XXXX  and I thought I would legitimize my career by going to school for it. I initially enrolled in the XXXX XXXX XXXX  with The XXXX XXXX XXXX XXXX XXXX ( now closed ) and after 3.5 years and a bunch of frustration with the program, I decided to transfer to The XXXX XXXXXXXX XXXX XXXX XXXXXXXX ( also closed ). My goal was to transfer to a place where the job market and job placement would be higher paying, and also hopefully have better teachers and a student body that took the curriculum more seriously. This was not the case unfortunately and upon arriving at that campus I was forced into a situation where I would eventually have to drop out. They informed me that a bunch of my credits didnt transfer, despite being the same school/company, and that my federal student loans were running out so I would have to pay out of pocket in order to get enough credits to even graduate. They told me that I would need to do 25 % of my education on their campus to graduate from their campus, something they didnt tell me until I arrived in XXXX. Unfortunately I had already completed 80 % of my education at the XXXX XXXX campus. I believe this was just a ploy to milk me for more money, and this is when I started to see XXXX and their for-profit art schools as the giant scam they are. In the end it didnt matter if I graduated  or not, because shortly after that they lost their accreditation and their job placement was a complete joke. 

I didnt hear about the class action lawsuit until after the fact. But apparently their fraudulent and predatory loan practices finally caught up to them and they were fined something like XXXX XXXX dollars and had to close down a lot of campuses. I eventually caught wind that a few students I went to school with were able to get their loans forgiven/ discharged. So I tried to go that route, my mom ( co-signer on my loans ) got an ad on XXXX  for some attorney who was supposed to help us. They instructed us to stop paying Navient their monthly payment and instead pay the attorney a similar amount. Eventually I realized we were being scammed, Navient was still hounding us daily and not paying them was starting to affect my moms credit. This all happened around XXXX. 

Since then we have been paying Navient monthly up until the time the pandemic broke out. We originally had an agreement with Navient that if we paid a certain amount on time every month after a year they would release my mom as a co-signer. They never kept up their end of the bargain. The entire time Navient had us setup on one of their programs where the payments we were making were only going toward the interest and never touching the principal. After years and years of paying them around XXXX $ a month, I still owe them more money than I initially borrowed. Ive since heard they were also in a class action lawsuit as well. 

Despite the fact that the amount of money Ive given Navient over the years equates to around the original loan amount of XXXX ( just my private loans ) they are still hounding us constantly, harassment and extortion are the best words I have to describe the situation. In total I owe over XXXX for a sub-par education, no degree, and no clue what Im going to do to get out of this. 

In XXXX XXXX 39 state attorneys general reached a {$1.00} XXXX settlement with Navient. This included {$1.00} XXXX in private student loan debt cancellation and {$95.00} XXXX in restitution for federal loan borrowers. The settlement addressed allegations that Navient steered borrowers into costly forbearances and issued subprime private loans to students attending for-profit schools with low graduation rates, such as the XXXX XXXX. 

In XX/XX/XXXX, the Consumer Financial Protection Bureau ( CFPB ) settled with Navient for {$120.00} XXXX. The settlement permanently banned Navient from servicing federal student loans and required the company to pay {$100.00} XXXX in redress to harmed borrowers and a {$20.00} XXXX penalty. The CFPB alleged that Navient misled borrowers about income-driven repayment plans, mishandled payments, and misrepresented requirements for cosigner release on private loans.

Company response to consumer: Closed with explanation