Navient Solutions – CFPB Complaint ID 2469866

Date Received: 2017-04-28T00:00:00

Product: Federal student loan servicing

Issue: Dealing with your lender or servicer

Consumer Consent Provided to Share Complaint: Consent provided

Consumer Complaint: I took out loans to get a XXXX from XXXX XXXX University – at the time, I did not know that the interest rates being charged were insanely high ( between 6 % and 8 % ). The original amount of my loans were about {$90000.00}. As a newly graduated XXXX XXXX , I was only making about {$55000.00} per year and living in XXXX XXXX XXXX – I could not afford to make payments, so needed to go into forbearance. Because of capitalized interest, I now owe {$140000.00}. I am currently making payments of about {$900.00} ( this is a huge monthly burden ), and I am not making a dent in the balance – this is all going toward interest. I have pulled are report of the payments I have made, and over the years that I have been in repayment, I have paid close to {$250000.00}, but my balance remains the same. I feel that I will never be able to pay off these loans – at the rate I am going, the balance will remain the same for my entire life, and I am struggling to afford these payments.

Company: Navient Solutions, LLC.

State/Zip: NY 112XX

Company Response to Complaint: Closed with explanation

Was Company Response Timely: Yes

Did Consumer Dispute Company Response: N/A

Complaint ID: 2469866

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