Date Received: 2018-10-25T00:00:00.000
Product: Federal student loan servicing
Issue: Dealing with your lender or servicer
Consumer Consent Provided to Share Complaint: Consent provided
Consumer Complaint: I work as an RN for a non-profit and was under the impression that I would qualify for public service loan forgiveness. I went through the appropriate steps of consolidating my loans ( per Navient, formerly Sallie Mae ) and was guided towards a specific repayment option. It is now 6 years later and I am just finding out that the repayment option that I was guided to is INCORRECT and INELIGIBLE for the program, and that I essentially have 20 more years of repayment under my current option, NOT the 4 years I thought. I am now in the process of changing my repayment option but have to restart with 10 years of payments.
I was guided by Navient ( Sallie Mae ) officials to Consolidate under Direct Loans, and then use Graduated Repayment, which per them, was an acceptable method of repayment for PSLF. I have been hearing about this problem in the media, so I did a little research to find that I also have been a victim of this misinformation.
I believe I started repayment after consolidation around XXXX/XX/XX/2012, with $ XXXX consolidated under Direct Loans. I have not missed a payment and very responsible with my finances. This whole situation is sickening. I would have chosen a different payment method from Day 1 if I knew I wasn’t eligible for Public Service Loan Forgiveness. I have been seeing a lot on the news about lawsuits against Navient for this exact reason, but it being held up by XXXX and XXXX. I do not know what I am supposed to do at this point.
I know that there is Temporary Expanded Public Service Loan Forgiveness that is supposed to address this issue, but you can only apply to that if you have made 10 years of payments. I am only 6 years in to my payments, but what am I supposed to do moving forward? If I don’t qualify for PSLF I want to chose a different payment method that accrues less interest, but I also don’t want to switch my payment method and get penalized for it.
Company: Navient Solutions, LLC.
Company Response to Complaint: Closed with explanation
Was Company Response Timely: Yes
Did Consumer Dispute Company Response: N/A
Complaint ID: 3056713
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