Subject : Chase Private Student LoansSchools attended : The University XXXX, XXXX, XXXX XXXX XXXX XXXX, XXXX XXXX, XXXX elected to defer my loan principal and interest while in school. I was graduated in XXXX XXXX from XXXX and I have been making the required payments since XXXX/XXXX/XXXX even before the grace period. After capitalization, the principal balance stayed constant at {$16000.00} from XXXX XXXX to XXXX XXXX although I was making payments. Again, the principal balance stayed constant at {$15000.00} from XXXX XXXX to XXXX XXXX although I was making payments. 

I requested explanation from Chase Student Loan Customer Care why the balance is not reduced with every payment like when I use online student loan calculators that are showing more than {$20.00} reduction in principal with each payment. Chase response was that the payments are applied first towards the interest, then fees and other charges if any, and then the principal. No more explanation was given although I asked a response from a supervisor and clearly stated that it seems I will stay making payments forever! 

My cosigner helped me to understand how this is working. It seems that Chase intentionally is sending statements with underestimated payments that would keep me paying interest only without seeing any reduction in the principal. For example, I paid {$200.00} on XXXX. The statement came back with a required payment of {$120.00} by XXXX. This {$120.00} is less than the interest amount I calculated ( 10.75 % x {$15000.00} / 365 days x 31 days = {$140.00} ). 

I think this is malpractice. I believe student loan statements shall be as accurate as possible showing a Good Faith Estimate which seems not the case for Chase Private Student Loans. How I am going to pay off my loan if I follow the statement and pay only what is required! I would be losing hundreds or may be thousands of dollars each year if I follow their statements. 

In addition, Chase sold my loan and is transferring it to XXXX XXXX XXXX ( XXXX ) by the end of this month. 

Would you please look into my complaint and attached documentation? 

Thank you,