Student loan -- Dealing with your lender or servicer -- Complaint #5158058
Complaint Overview
Complaint ID: 5158058
Company: Navient Solutions, LLC.
Product: Student loan
Sub-Product: Federal student loan servicing
Issue: Dealing with your lender or servicer
Sub-Issue: Received bad information about your loan
State: New York
ZIP Code: 103XX
Date Received: 2022-01-27T12:00:00-05:00
Date Sent to Company: 2022-01-27T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
My husband and I hold a spousal consolidation Federal Family Education Loan ( FFEL ) - a program that was terminated in the early XXXX - which prevents my burden from becoming eligible for public service loan forgiveness, despite that I have been teaching in a qualifying public university for 19 years and have never missed a student loan payment since I started to repay my debt in XXXX. The original loan was for +/- {$85000.00} and to date, we have paid a total of +/- {$130000.00} in principal and interest. Apparently, although FFELs are federally guaranteed loans, they can be backed by banks or private lenders ( ours is backed by the State of New York ) and, currently, do not meet the US Department of Educations qualifying criteria for the PSLF program. Of course, the vast majority of students who took out FFEL loans did so long before the PSLF program was created in XXXX and, therefore, could not anticipate the criteria that would be used to determine which loans would qualify for a program that did not yet exist. For this reason, those borrowers under the FFEL program who meet the current criteria in place for PSLF should be grandfathered into the forgiveness program. They are federal loans as well as indicated in the very name of the program under which they have been issued. I should note that at the time of consolidation in XXXX, my husband and I were never told about these differences between FFEL and direct loans. Furthermore, the US Department of Education has severed millions of us from any kind of relief in the future. Borrowers with spousal consolidation FFEL loans can not reconsolidate into a new one a direct loan that is considered eligible under PSLF even if it means restarting the clock and making timely payments for an additional 10 years. There is no mechanism in place under which this can be done. In short, loan conversion is not possible and no relief is available to some of the longest-paying borrowers in the student loan system.
Frequently Asked Questions
What is Complaint #5158058 about?
Complaint #5158058 was filed against Navient Solutions, LLC. regarding Student loan specifically about Dealing with your lender or servicer. It was received by the CFPB on 2022-01-27T12:00:00-05:00.
How did Navient Solutions, LLC. respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Student loan) and describe your issue in detail.
Can I see other complaints against Navient Solutions, LLC.?
Yes, visit the Navient Solutions, LLC. company profile at readthecomplaint.com/company/navient-solutions-llc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.