Navient Solutions, Inc. Student Loan Complaint

Non-federal student loan Dealing with my lender or servicer don't agree with fees charged

Navient Solutions, Inc. Student loan department,

Non-federal student loan Dealing with my lender or servicer Don't agree with fees charged Massachusetts

I took out a student loan in 2007 from - - to pay for college. I recently finished - school and the loan exited the grace period incurring a repayment fee. While the promissory note I signed at age - did include a subsection effectively detailing that the company could tack on any fees they so desired at any point in time, I believe this to be unfair, deceptive and abusive. First, this provision was tucked away in subsection G of a boilerplate contract and was not disclosed in a clear and conspicuous manner. Second, the methodology of calculating this fee was never disclosed. Third, this fee is really a hidden origination charge and should have been disclosed as part of the interest rate disclosures that I am still unsure I ever received. The cumulative effect of these practices has resulted in monetary harm on my part, which I could not reasonably avoid because the fees were never disclosed to me and I had no way of calculating what they were going to be in advance.

Navient Solutions, Inc. customer in Massachusetts
Apr 16, 2016

* Source: CFPB Complaint Database

Navient Solutions, Inc. response to complaint:
Closed with explanation

Created with Highcharts 4.2.3Navient Solutions, Inc.Complaint HistoryComplaints12/20151/20162/20163/20164/20165/20166/20167/201610/201611/201612/20161/2017010203040506070Source: Consumer Financial Protection Bureau
Created with Highcharts 4.2.3Navient Solutions, Inc.Dealing with my lender or servicer91.4%3.5%5.1%Closed with explanationClosed with monetary reliefClosed with non-monetary reliefSource: Consumer Financial Protection Bureau
Created with Highcharts 4.2.3National AverageDealing with my lender or servicer0.7%81.6%6.3%9.6%1.9%0.1%ClosedClosed with explanationClosed with monetary reliefClosed with non-monetary reliefIn progressUntimely responseSource: Consumer Financial Protection Bureau

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