{"id":11465,"date":"2019-04-10T19:46:24","date_gmt":"2019-04-11T00:46:24","guid":{"rendered":"https:\/\/www.fitbux.com\/articles\/?p=11465"},"modified":"2022-04-07T12:27:26","modified_gmt":"2022-04-07T17:27:26","slug":"navient-strikes-again","status":"publish","type":"post","link":"https:\/\/www.fitbux.com\/articles\/navient-strikes-again\/","title":{"rendered":"Navient Strikes Again"},"content":{"rendered":"

FitBUX Stories\u00a0is a collection of articles written by Members and Non-Members of\u00a0FitBUX<\/a>. The purpose of the stories are to provide positive encouragement to others who have found themselves owing a lot in student loans. Some stories are \u201cStudent Loan Horror Stories<\/a>\u201d so we can learn from each other. \u00a0This is one of those horror stories.\u00a0<\/strong><\/p>\n

This story highlights two very important lessons at the end so be sure to read them.<\/strong><\/p>\n

If you\u2019d like to contribute your story, simply send us an email at\u00a0info@fitbux.com<\/a>. We would love to hear YOUR story!<\/strong><\/p>\n

Navient Strikes Again<\/h2>\n

Many of you have read the story of FitBUX Member Taylor F. and how Navient cost him thousands of dollars<\/a>.<\/p>\n

This is a similar story but it doesn\u2019t discuss Navient applying payments incorrectly. Instead, this is a story of how Navient<\/a> destroyed a new graduate\u2019s credit and potentially cost them thousands of dollars in the long run.<\/p>\n

The Background<\/h2>\n

Kelsey has spent the last 7 years working hard to complete her undergrad and graduate studies. Like many of you, she spent many nights studying instead of enjoying a night out with friends. Priorities and dedication.<\/p>\n

Kelsey was fortunate, she was able to complete her undergraduate studies without student loans. However, she borrowed approximately $100,000 for her graduate studies.\u00a0 The Federal government had assigned Navient to service her loans.<\/p>\n

Kelsey was prudent and proactive.\u00a0 She had read FitBUX’s Student Loan Refinance Guide<\/a> and decided to schedule a time with her FitBUX Coach<\/a> to develop her student loan repayment plan three months before her grace period ended<\/a>.<\/p>\n

Her FitBUX Appointment<\/h2>\n

As part of her student loan plan, Kelsey decided to refinance her student loans. Based on her situation, her FitBUX Coach wanted her to check the rates she could get with two of FitBUX\u2019s student loan refinance partners: Splash Financial<\/a> and Laurel Road<\/a>.<\/p>\n

Having a clearly-defined strategy and next step, Kelsey still needed to complete her licensing exams before she could begin working.\u00a0 Therefore, she would submit her refinance applications in 2 months.<\/p>\n

\"FitBUX's<\/a><\/p>\n

Two Months Later<\/h2>\n

Two months passed and as part of FitBUX\u2019s free student loan refinance service<\/a>, Kelsey\u2019s FitBUX Coach emailed her a reminder to apply with the aforementioned student loan refinance companies.<\/p>\n

The email back shocked her FitBUX Coach. She was somehow denied!<\/p>\n

Based on her FitBUX profile, she should have never been denied.\u00a0 The first thought of her Coach is that her credit score was not what she had stated on the call, but this wasn\u2019t the case.\u00a0 It had to be something else.<\/p>\n

Kelsey had already signed up for FitBUX\u2019s Student Loan Pay Off Tracking Solution<\/a>. \u00a0Therefore, her Coach had great visibility into Kelsey\u2019s student loan repayment progress. He saw that she wasn\u2019t supposed to start payment until the following month.<\/p>\n

However, Kelsey stated that when she logged into her Navient account, she saw a message that she was late and was in default!!!! Something was majorly wrong.<\/strong><\/p>\n

Her FitBUX Coach immediately scheduled a time with her so they could do a screen share.<\/p>\n

Navient\u2019s Mistake<\/h2>\n

While doing the screen share, Kelsey\u2019s FitBUX Coach saw that all her Grad Plus loans were indeed marked as being in default. Navient had recorded her repayment start date as being the same day as when the loans were disbursed, almost 3 years earlier! In short, instead of having in-school deferment, Navient had been requiring payment.<\/p>\n

The result, Navient had been reporting to the credit companies for almost 3 years that Kelsey was late on payments.\u00a0 This destroyed her credit score.\u00a0 Therefore, she couldn\u2019t refinance her student loans.\u00a0 She also would have to pay more on other loans such as car loans. Or worse yet, she would probably be denied for those as well.<\/p>\n

Since Kelsey had already signed up for FitBUX\u2019s Pay Off Solution<\/a>, her FitBUX Coach did a conference call with her and Navient to sort out the mess Navient had created.<\/p>\n

The conclusion is still pending as Navient looks into what happened\u2026.Watch for part 2 when Kelsey gets closure on this with FitBUX\u2019s help.<\/p>\n

Two Lessons<\/h2>\n

Mistakes at Navient are not uncommon. If you check the news, you will see that they why they have many pending lawsuits based on similar scenarios.<\/p>\n

This story provides us three important lessons:<\/p>\n