CFPB Complaint

Navient Solutions – CFPB Complaint

Consumer Complaint Submission

Date Received: 2018-10-22T00:00:00.000

Product: Private student loan

Issue: Dealing with your lender or servicer

Consumer Consent Provided to Share Complaint: Consent provided

Consumer Complaint: I was encouraged by Sallie Mae to defer payments after school after I graduated in 2005. I started making payments approximately a year later as I was instructed to do so. In that time my loan went from approximately {$80000.00} to {$100000.00}. I am never notified of the interest rate changes before they change. I have paid almost {$75000.00} to the Sallie Mae and now Navient ( Sallie Mae sold my loan to Navient ) and my balance is over {$75000.00}. It just does not add up. I am going to refinance my loan with XXXX to a fixed rate b/c payoff date with this loan seems to change. I am so distraught over this and I have never missed a payment. When I call Navient I do not get clear answers and I end up waiting on hold for 20-30 minutes sometimes.

Company: Navient Solutions, LLC.

State/Zip: CA 921XX

Company Response to Complaint: Closed with explanation

Was Company Response Timely: Yes

Did Consumer Dispute Company Response: N/A

Complaint ID: 3053546

The above data is from the Consumer Financial Protection Bureau. Keep in mind that every company will get a complaint from time-to-time, even the great ones. But there are a few key data points that will give you an idea about how well the company values their customers and handles consumer issues.

Look at the item Company Response to Complaint: and Did Consumer Dispute Company Response: to get a better idea of how this was resolved. And the field Consumer Complaint: can give you some context of the issue.

In particular what you are looking for was that the company response was timely and that the consumer did not dispute it. The posting of complaints has proven to be a valuable resource for both companies and consumers.




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