Navient Solutions – CFPB Complaint ID 2682453

Date Received: 2017-09-23T00:00:00

Product: Federal student loan servicing

Issue: Dealing with your lender or servicer

Consumer Consent Provided to Share Complaint: Consent provided

Consumer Complaint: I am on auto pay and I would like to have more taken out each month so I can get ahead on my loan automatically. Navient does not support this – per their help file ” Your recurring Auto Pay amount ca n’t exceed your monthly payment due at this time, ” I feel that is is misleading. Currently to make an extra payment I have to remember to manually do this each month. The only way I could increase my auto payment amount is to change my loan term to a shorter term which is not what I want to do. If I went that route and I ca n’t make the revised much larger payment – I am in default and will owe fees. ( I did go that route about 5 years ago for a {$100.00} increase before I understood this would change my loan term. ) This feels intentionally like a way from stopping me from paying my loans early and should be stopped. I also find the details very confusing and for uneducated consumers it really might set them up to fail- they think wow I am doing great paying more each month – only to realize there is no going back to smaller payment terms without going into some sort of alternative payment option, forbearance or hardship.

Company: Navient Solutions, LLC.

State/Zip: CA 940XX

Company Response to Complaint: Closed with explanation

Was Company Response Timely: Yes

Did Consumer Dispute Company Response: N/A

Complaint ID: 2682453

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