Navient Solutions, Inc. Student Loan Complaint

Non-federal student loan Can't repay my loan can't decrease my monthly payments

Navient Solutions, Inc. Student loan department,

Non-federal student loan Can't repay my loan Can't decrease my monthly payments Pennsylvania

Dear Cfpb, I would first like to thank you for taking the time to read my complaint. I currently have a student with Navient which I have paid on time for almost 6 years. The interest rate is terrible and my balance is not going anywhere this is a crime they charge 13.24 % for a student loan! I called them and they said they can not do anything to lower it because I make too much money. I tried refinancing this with - other lenders and the denied me that I do not make enough. I feel there is no way out of this. I do not mind paying the loan but when all I am doing is paying mostly interest I get upset. The main issue is when I took the loan out back in 2003 the rate was around 7 % how and why this jumped to 13.24 they can not explain. Is there anything that can be done here? Regards, - - -

Navient Solutions, Inc. customer in Pennsylvania
Jun 09, 2016

* Source: CFPB Complaint Database

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

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