Student loan -- Getting a loan -- Complaint #8862530

Complaint Overview

Complaint ID: 8862530

Company: Navient Solutions, LLC.

Product: Student loan

Sub-Product: Private student loan

Issue: Getting a loan

Sub-Issue: High pressure sales tactics or recruiting

State: New Hampshire

ZIP Code: 030XX

Date Received: 2024-04-25T12:00:00-05:00

Date Sent to Company: 2024-04-26T12:00:00-05:00

Company Response: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A

Submitted Via: Web

Consumer Narrative

Thousands of students were scammed by Navient into taking out predatory private loans to attend for profit online schools such as the one I attended, ( insert your school here ). As a matter of fact, the art institutes including my school the XXXX XXXX XXXX XXXXXXXX XXXX was investigated by the federal government for falsifying accreditation, misleading and recruiting students and much more. Because of the numerous claims of fraud and misconduct perpetrated by these online for profit schools, such as the XXXX XXXX XXXX XXXXXXXX XXXX, I was able to file a Borrower Defense claim with the Dept. of Education against the art institutes, and my Fed. loans of over {$70000.00} were discharged and my credit repaired. My Borrower Defense Claim was also part of the XXXX XXXX. XXXX settlement for which I was a full class member. I am aware that Navient was sued by 39 state AGs regarding their predatory loans to attend these online for-profit schools and that Sallie Mae/Navient were a " preferred '' lending company in a " deal '' with these schools during the early 2000 's. These private loans with a high risk of default were part of a package deal offered to " for profit online schools ''. But loans made to students in states outside of the agreement, or those who were not in default for 7 months or more during a " specific '' time frame, were excluded. I am sure this was a big win for Navient, but what a sham of a settlement deal for the rest of borrowers scammed into taking loans to at least 150 for profit online schools. After the AG settlement, didn't Navient also get out of the Federal student loan business due to scrutiny from lawmakers and borrower advocates? Didn't Navient have to pay restitution to the Federal student loan borrowers for not informing students of IDR/IBR payments students could have enrolled in, but instead steered toward forbearance? Furthermore, hasn't Navient been sued at least a half dozen times for other predatory loan practices and illegal collection practices? I am also aware of a " pilot '' program by which Navient is sending out " applications '' to select students who may have filed Borrower Defense claims against their schools and were approved. This application is a sham. Why do we need to prove anything? Navient knows who we are. Under the FTC " Holder Rule '' Navient is liable for giving predatory loans in connection with online for-profit schools. Time is running out for Navient to do right by students who were scammed into taking out private loans to attend online for profit colleges who have committed misconduct and misrepresented themselves to the public to entice students to enroll. XXXX XXXX XXXX has sent a letter to Navient 's CEO asking to discharge these loans NOW! It's time Navient do the right thing and discharge all these predatory private loans made to attend online for profit schools NOW!

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This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.

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