Navient Solutions – CFPB Complaint ID 2568999

Date Received: 2017-07-08T00:00:00

Product: Private student loan

Issue: Dealing with your lender or servicer

Consumer Consent Provided to Share Complaint: Consent provided

Consumer Complaint: They capitalized interest 7 times betwe en XX/XX/XXXX and XX/XX/XXXX which resulted in an additional {$4000.00} plus being owed on my private loan. I have qualified for a rate reduction several times since then. When out of the reduced rate program they have increased the interest rate enough to cover the reduced rate plus. My previous rate was 1 %. My current interest rate in 11.75 %. Prior to this my interest rate was 10.75 %. So its not really reduced if they are recouping it after. I initially borrowed {$6000.00}. I owe now XXXX . They are making 100 % interest.

Company: Navient Solutions, LLC.

State/Zip: IN 468XX

Company Response to Complaint: Closed with explanation

Was Company Response Timely: Yes

Did Consumer Dispute Company Response: N/A

Complaint ID: 2568999

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See also  AES/PHEAA - CFPB Complaint ID 3051424