Student loan -- Dealing with your lender or servicer -- Complaint #7484834
Complaint Overview
Complaint ID: 7484834
Company: Navient Solutions, LLC.
Product: Student loan
Sub-Product: Private student loan
Issue: Dealing with your lender or servicer
Sub-Issue: Received bad information about your loan
State: Illinois
ZIP Code: 60543
Date Received: 2023-08-31T12:00:00-05:00
Date Sent to Company: 2023-08-31T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American
Consumer Narrative
On XXXX XXXX, I call Navient customer service. I had noticed that 2 variable rate loans ( Parent plus loans ) had recently increased from 4.2 percent ( approximately ) to 8.56.per cent. I asked customer service whether Navient had a legal obligation to inform me of the rate change. One customer service representative replied " Yes '' ; she was unable to locate any notification of the rate change sent to me. Secondly, having had the first telephone conversation disconnected by Navient, I called back the same day and asked what the calculation was to determine the varoiable interest rate. Customer service informed me that they could not/ would not give me calculation used to determine the adjusted rate. The two loans in question go back to XXXX. As of XXXX, the rate on the variable rate loans was approximately 4.2 %. Supposedly, Congress sets the interest rate on these loans ; I asked for documentation of the history of these loans going back to XXXX.
Frequently Asked Questions
What is Complaint #7484834 about?
Complaint #7484834 was filed against Navient Solutions, LLC. regarding Student loan specifically about Dealing with your lender or servicer. It was received by the CFPB on 2023-08-31T12:00:00-05:00.
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.