Navient Student Loan Complaint

Non-federal student loan Dealing with my lender or servicer trouble with how payments are handled

Navient Student loan department,

Non-federal student loan Dealing with my lender or servicer Trouble with how payments are handled Tennessee

Navient is servicing my son 's student loans. He has - : - at 7.5 % variable, - at 2.75 % variable, and a - at 2.25 % variable. We have been sending payments on all -, with specific loan numbers on each payment, and with larger payments on the higher rate loan to try to pay it off earlier. Navient has been posting the payments proportionately by outstanding balance on each loan, rather than the loan number stated on the payment, thereby causing higher interest to be accrued since his loan with the 7.5 % rate is receiving only a portion of total payments rather than the larger amount being sent. This is abusive and should be rectified by reducing the 7.5 % loan accordingly.

Navient customer in Tennessee
Nov 29, 2015

* Source: CFPB Complaint Database

Navient response to complaint:
In progress

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http://www.navient.com/
(302) 283-8000
123 S Justison St Ste 300
Wilmington DE 19801
Navient
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