Complaint / review text:
I have been diligently paying my student loans for the past 8 years since graduating from law school in 2006 with a ton of debt. Recently I discovered part of my Sallie Mae loan was transferred to Navient. The monthly payment that Navient presented to me was an additional $130. I called and spoke with a representative from Navient who informed that once they audited Sallie Mae's records they discovered that I would not be able to pay off my loan within the term without owing a balloon payment.
I never received a disclosure regarding this increase and I have paid the same amount for over 7 years. The Navient representative agreed that I was penalized for what they claim was Sallie Mae's mistake. Am I to believe and accept this additional $1200 year bill? How do I even know if it is accurate? What would prevent Navient from conducting another audit & request additional money. Additionally, I never received a disclosure regarding this audit or newly discovered increase in my monthly payment. Please assist with this matter. If Navient can shakedown customers to a tune of $1200/ year then how will those of us who have loans ever know our true repayment. How many others has this happened to?