Date Received: 2017-05-27T00:00:00
Product: Private student loan
Issue: Dealing with your lender or servicer
Consumer Consent Provided to Share Complaint: Consent provided
Consumer Complaint: I started to pay more toward my variable interest rate private loan and for the last 3 payments, my interest rate has been increased. It ‘s as though they see that I ‘m starting to pay more and are each subsequent payment increasing the rate to discourage me from paying the loan off sooner. I make XXXX payment on the loan balance of XXXX . The original loan wa established in 2011 at XXXX with the rate then of 13.75. T he Interest has gone fro m 13.75 to 14.175 in the last 3 months. I ‘m not paying that much toward principal, but I ‘d like to to pay the loan off sooner if I can. Is it legal for Navient to raise my interest rate to discourage me from paying more toward my loan balance?
Company: Navient Solutions, LLC.
State/Zip: DC 200XX
Company Response to Complaint: Closed with explanation
Was Company Response Timely: Yes
Did Consumer Dispute Company Response: N/A
Complaint ID: 2495799
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