I wrote to Navient

Please see the letter I wrote to Navient, this fully explains the problem. To Whom It May Concern, I am writing to discuss your company’s inability to properly allocate my payments over the last 5 months, resulting in $1206.45 of my hard-earned money being applied to the wrong, lower interest loans. Hopefully your office keeps some records of phone conversations and you can review the difficulties I’ve had in fixing these payments. I asked the last phone representative to send me an email confirming our conversation and his understanding of my request, and he stated this was not possible and I would get some correspondence in the following 14 days. I have never received any correspondence. It appears that I will need to keep my own records. To summarize the problems, 5 months ago, beginning with my 8/28/12 payment, I increased my automatic debit payment from the required $451.91 per month to $835 per month. This was not a required increase, but rather my choice as I wanted to pay the loans off over the next 15 years. I asked that the extra $383.09 be applied directly to the principal of my highest interest loan (loan 1-12 at an interest rate of 6.38%). I was assured this was possible and this change would be represented with the August payment. In November, I reviewed my payments and noticed that that August, September, and October payments were allocated incorrectly. Rather than allocating all the excess payment ($383.09) to my highest interest loan, only $175.76 was allocated to that loan, and only 141.80 of that was allocated to the principal. The rest of the payment was divided amongst my 4 lower interest loans (interest ranges from 2.62-4.5%). I noticed the issue and called your company once again. The first representative I spoke with didn’t seem to understand the issue and then later told me it was not possible to allocate an increased automatic debit payment to one specific loan. I then asked to speak with a manager, who in direct contradiction to the first representative, stated it was possible and that it would be fixed retroactively and proactively. However, come 11/28/12, the payment was still allocated incorrectly. I made another phone call in early December and the representative I spoke with then told me a request to fix the problem had never been issued after the phone conversation I had in November. He stated he would have to refer this problem to a senior level manager and that he could not fix the problem over the course of our conversation, but he was 100% sure the December payment would be allocated correctly and the prior payments would be corrected retroactively. Come 12/28/12, the payment is still allocated incorrectly. At this point, $1206.45 has been allocated incorrectly. This represents 19% of the total value of my highest interest loan which is now $6343.56 at 6.38%. While this may seem like a small amount of money to you, this is of significant value to me. More costly has been my complete loss of faith in your customer service and your ability to manage the almost $100,000 I owe in student loans. It is especially concerning that it is only of benefit to you to continue to allocate my payments improperly, because in the long run you make more money. That is why at this point, after 5 months of attempting to fix this issue, I am issuing formal complaints to the Better Business Bureau and Federal Trade Commission. If you cannot resolve this in a satisfactory manner, I will have no choice but to decrease my automatic debit payment back to $451.91 and make extra payments one by one, every month, for the next 15 years. Please help correct this issue as I am only trying to faithfully pay what I owe in the most economical and reasonable manner I know.