Navient Solutions – CFPB Complaint ID 3054600

Date Received: 2018-10-23T00:00:00.000

Product: Federal student loan servicing

Issue: Dealing with your lender or servicer

Consumer Consent Provided to Share Complaint: Consent provided

Consumer Complaint: I started teaching at a public school in XX/XX/XXXX. My student loans were consolidated in XX/XX/XXXX with XXXX. I was told then ( in XX/XX/XXXX ) that my best course of action was to consolidate to a Smart Loan. Then, XXXX changed ( or my loan was bought out by ) Navient. I asked Navient if I was qualified through my Smart consolidation for the Public Service Loan Forgiveness Program. They said they thought so, and that I just needed to continue working at the XXXX where I ( still currently ) am working, and I needed to make 120 payments. In XX/XX/XXXX ( when I had made 120 payments ) I started ( what I thought ) was the process of applying for the Public Service Loan Forgiveness program. It took me six months ( and two months of deferment in which my loan was still collecting interest while I was told to complete a DIRECT consolidation ) for me to find out that my loan was NEVER going to qualify for the Public Service Loan Forgiveness Plan because A. It needed to be Directly Consolidated to begin with, B. I would have had to file my taxes individually once I had gotten married. On XX/XX/XXXX I spoke with a representative from the current loan company I’ve been shuffled to ( XXXX XXXX XXXX ) and they STIILL told me I would qualify for the Public Service Loan Forgiveness Plan after another 120 ( ten more years worth of payments ) ; which is ALSO NOT TRUE and I blindly would have accumulated nearly {$40000.00} in interest for another 120 payments if a financial planner hadn’t caught this and told me I won’t qualify now or in 10 years. I started with {$46000.00} of Subsidized and Unsubsidized Federal Student Loans and still have {$37000.00}. to go. I wish I had all of this information before I started XXXX.

See also  WELLS FARGO & COMPANY - CFPB Complaint ID 2787887

Company: Navient Solutions, LLC.

State/Zip: RI

Company Response to Complaint: Closed with explanation

Was Company Response Timely: Yes

Did Consumer Dispute Company Response: N/A

Complaint ID: 3054600

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