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Navient in regards of my student loans

Michael Agruss

Written and Reviewed by Michael Agruss

  • Managing Partner and Personal Injury Lawyer at Mike Agruss Law.
  • Over 20 years of experience in Personal Injury.
  • Over 8000+ consumer rights cases settled.
  • Graduated from the University of Illinois Chicago School of Law: Juris Doctor, 2004.

I have contacted Navient in regards of my student loans and the interest over the years have made the loans substantially unfordable to repay. Due to unemployment and caring for my children while my spouse served the military and Federal government, I have not been able to repay a monthly amount that is equivalent to a home mortgage payment. This payment was under the income based repayment in which I applied for in summer of 2012. Now my loans are at $165,000 I have attempted to make the payments under the income based repayment and was still overwhelmed and had to request deferment. In the meantime I contacted Sallie Mae by email to request an alternative or some kind of loan forgiveness program. Only response I get it to get a deferment or forbearance which continues to increase the amount owed in the end. The interest rates are high at 6.8% on more than half of the loans which is tacking additional thousands of dollars on the loans. Majority of my payment is not going towards the principal but the capitalized interest. I have not been able to make a dent in these loans even though I paid over $3,000 in four months and it did not decrease anything. The amount owed is the same as it was before and after I paid over $3,000 in May- September 2012.

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