NELNET, INC.
Consumer Complaints
There are over 3518 complaints on file for NELNET, INC.. Dated between 2019-12-10 and 2012-03-07.
Complaints Page 22
2019-04-30
Houston, TX
Struggling to repay your loan
Student loan: Federal student loan servicing
Can't get other flexible options for repaying your loan
Complaint: I have made several attempts to get my student loans rehabbed due to financial hardships. I initially obtained debt consolidation for my loans but due to being put on XXXX I defaulted when they would not accept a lower payment than XXXX I asked to get on a plan that would allow at least {$5.00} to rehab until circumstances changed & was unsuccessful. I sent letters & completed a deferment as well 3 times Nelnet/XXXX has not been cooperative at all! I can only pay what I can afford & not to mention being coaxed to attending XXXX XXXX XXXX stating it was more affordable than attending state school. I am requesting to get assistance with rehabbing the loan at this time & I am getting the run around. As a taxpayer this is just not right!
Company Response: Closed with explanation
2019-04-29
OH
Dealing with your lender or servicer
Student loan: Federal student loan servicing
Trouble with how payments are being handled
Complaint: After submitting income based repayment application, nelnet wants to increase my payment, even though my income is the same from last year.
Company Response: Closed with explanation
2019-04-28
Knoxville, TN
Dealing with your lender or servicer
Student loan: Federal student loan servicing
Received bad information about your loan
Complaint: I am writing to ask for help in resolving an issue I've had with Nelnet to rectify a problem with my student loan that was the result of years of bad and misleading advice provided by your customer service agents -- an issue that resulted in well over {$50000.00} in interest added to my account, and one that will continue to cost me tens of thousands of dollars over the next two decades.
I graduated from my doctoral program at XXXX University in XX/XX/XXXX with {$200000.00} in Stafford loans ( in addition to loans from an earlier XXXX XXXX ). My grace period for these loans ended on XX/XX/XXXX.
For the first three and a half years after graduating, when I was just starting out in my career and making only a modest entry-level salary, I did not have the means to meet the daunting monthly payment on my loans. When I expressed that concern to Nelnet customer service agents, time and time again they advised me to seek a forbearance for my loans instead of entering into an income-based repayment program that would have resulted in a payment of nothing or next to nothing.
Even when I inquired about Federal repayment programs, I was repeatedly advised by Nelnet customer service representatives that a forbearance was the easiest and best avenue for me to pursue, despite the fact that an income-based program would have offered a manageable monthly payment and prevented interest from capitalizing. Im only now writing after reading about the various lawsuits against student loan servicers like XXXX -- lawsuits that motivated me to research my own loans and realize the steep price I paid for following Nelnets misleading advice for years.
From my records and recollection, it appears I finally entered the IBR program after consolidating my loans on XX/XX/XXXX after a close friend insisted I look into the option. By the time I did, my {$200000.00} balance had swelled to {$250000.00} -- resulting in an additional {$51000.00} in interest that would not have been capitalized had I entered into the IBR program when my grace period first ended in early XXXX.
But the additional {$51000.00} in capitalized interest is not the only financial penalty I have paid by following Nelnets bad advice. Had my principle been locked at {$200000.00}, I would only be accumulating {$12000.00} per year in interest on my debt. Instead that loan is accruing {$15000.00} per year -- an additional {$3000.00}. Assuming Im not able to pay off my loans sooner, over the course of the 25-year IBR period, thats an additional {$76000.00} that my loan will accumulate in interest due to the inflated principle. And if Im still paying off my loans at the end of the 25-year IBR period and the balance is forgiven, I will have to pay taxes on that additional {$76000.00}.
To add insult to injury, if I had not listened to Nelnets customer service agents and pursued an IBR strategy earlier, I would already be over 8 years into my 25-year IBR repayment period instead of just four -- four additional years during which that {$51000.00} added {$12000.00} more in interest ( {$51000.00} x 6 % each year for 4 years ).
While these amounts may seem small compared to my overall balance, the increased balance represents money that I will not be able to put toward my XXXXyear-old XXXX college fund, and a hefty additional tax I will have to pay when the balance is forgiven. Those additional four years mean that I may be repaying my loans until Im XXXX instead of XXXX, cutting into my ability to support myself in retirement.
As a result I have sent a similar letter as this to Nelnet asking them to investigate this matter and un-capitalize the {$51000.00} in interest that accumulated during those four years that their customer service representatives steered me away from IBR and towards forbearance. I also asked them to reduce my overall interest by {$12000.00} -- the amount that the excess principle cost me in the years since I entered IBR. Additionally, I asked that four years be credited to my repayment period. I would happily furnish tax returns and make a lump-sum payment equal to the IBR amount I would have paid from XXXX, when my salary was modest and payments would have been minimal.
You may ask why I didnt push back more or educate myself more on these programs back in XXXX, when my grace period ended and I first had to begin repaying my loans. Like many graduates, I was occupied with board exams, finding a job, and relocating to a new town for work. In addition to all that stress, I was also going through what was undoubtedly the worst year of my life. My final year in graduate school, my wife and I divorced. She remarried shortly after and moved with our infant son, the joy and brightest light in my life, 600 miles away from the city where Id found work and where we were supposed to raise him together. Forced to choose between moving closer to them, where Id be unemployed ( I was unable to find work in their town ) or staying where I was so that I could fulfill my financial obligations as a father, I chose the latter. For 2 years, 4 months Id drive 20 hours round-trip to see my son once a month while working and saving enough money to move closer to them and open a practice of my own. When I was finally able to move to their state in XXXX, I had to start building a practice from scratch, from the ground up. Im proud that Ive been able to make monthly payments on my student loans for years now, even if the near- {$600.00} payment isnt even covering interest. By reducing my principle to what it should be -- $ {$200000.00} -- the idea of increasing my monthly payment to a point where Im covering the monthly interest and starting to dig into the principle actually seems like a possibility instead of a pipe dream.
I am very grateful for the Federal student loan programs like IBR and student loan servicers like Nelnet who make them possible ; without them my student loan debt would simply be untenable. I want to repay my student loans like a responsible citizen and have been making payments steadily as my income has increased over the past four years. I am, however, hamstrung by early errors and bad advice furnished by Nelnet customer service agents and ask that this injustice be rectified.
Sincerely, XXXX XXXX XXXX
Company Response: Closed with explanation
2019-04-27
Austin, TX
Dealing with your lender or servicer
Student loan: Federal student loan servicing
Received bad information about your loan
Company Response: Closed with explanation
2019-04-27
NJ
Dealing with your lender or servicer
Student loan: Federal student loan servicing
Received bad information about your loan
Complaint: Nelnet and XXXX services both were properly notified that I was XXXX and have be on SSI for about five years, and still put my loans in default and took my taxes.
Company Response: Closed with explanation
2019-04-27
AZ
Dealing with your lender or servicer
Student loan: Federal student loan servicing
Trouble with how payments are being handled
Complaint: I been contacted from XXXX to help lower my loan monthly payments, XXXX XXXX an XXXX XXXX asked me to submit my financial documents like tax return, social security numbers, household income verification, I did submit all the requested document on XX/XX/XXXX, since then I was making monthly payment for {$100.00} every XXXX of each month. this year I asked my loan lender to send me the form XXXX for tax purpose, they told me I never made any payment for XXXX and XXXX.
I need to get back my money and pay it back to the loan lender.
I have all the emails, bank statements shows my monthly payments.
Company Response: Closed with explanation
2019-04-26
Perris, CA
Incorrect information on your report
Student loan: Private student loan
Information belongs to someone else
Company Response: Closed with explanation
2019-04-26
NJ
Struggling to repay your loan
Student loan: Private student loan
Can't get other flexible options for repaying your loan
Complaint: I refinanced my private student loan from Firstmark services to XXXX. XXXX XXXX then sold the loan back to Firstmark services. My current monthly payment is over {$600.00} a month. I can not pay this amount and contacted Firstmark. I was tld that I am not eligible for any help at this time. I am now behind on my payments by several months after losing my job in XX/XX/2018. Firstmark continues to call me demanding payment however they are not willing to offer any affordable solutions. I am also accruing late fees that are astronomical as well as ridiculous high interest. My initial loan was under {$40000.00} and now is over $ XXXX.Is it any wonder there is a student loan crisis in this country. I was told that even if I make a small payment each month my loan will still default.
Company Response: Closed with explanation
2019-04-26
Spring Hill, FL
Incorrect information on your report
Student loan: Federal student loan servicing
Account status incorrect
Complaint: During late XXXX, I had to leave my home in Florida and help assist my mother with my XXXX father in New York. During that time, Nelnet failed to notify me that my loan repayment plan at the time was about to expire ( I had an income-driven repayment plan at the time, with no payments due to unemployment ). They claim they tried to contact me, but also admit that the mail was being returned to them. I can only guess they had the incorrect address on file. Regardless, due to the mail being returned, they are well aware I did not receive any notifications. Prior to that, I was making no payments due to being unemployed, and I was still unemployed while helping to care for my father before he passed away.
Since they failed to notify me that I needed to refile, they defaulted into some kind of payments being due, even though I couldn't pay and was never even informed of this. So, from XXXX of XXXX to XXXX. of XXXX, I accrued five derogatory marks on 9 different loans I have with them for a total of 45 derogatory marks. This was all because I simply didn't refile paperwork for the loans because they never notified me that I needed to! While I was taking care of my XXXX father, this organization began placing derogatory marks on my credit scores for loans that I was financially unable to pay and was never warned that payments were going to be due! I couldn't pay because I had NO information on where to pay, how to pay, etc.!
As soon as I finally saw it on my credit score and looked into it, I immediately refiled for an income-driven repayment plan, which again made it so that I didn't need to make payments once more. However, by that time, those 45 derogatory marks had already occurred.
I explained the matter to the staff at Nelnet, but they blatantly lied to me by claiming there was " nothing they could do about it. '' They don't want to take the time to report it to the bureaus, which would take probably 10 minutes of one of their employee 's time, if that. They have attempted to justify their derogatory marks on my credit reports by hiding behind policies. However, I have seen no copies of any policies of theirs that I signed, never saw any evidence of a timeline that shows when my last class was in college to the point where they started expecting me to pay. Ethically, this should be a no-brainer due to the fact they are well aware they could not contact me and as such I received no forewarning they were going to maliciously attack my credit. Nelnet is using policy to justify unethical actions here by refusing to adjust the derogatory marks.
I filed a complaint with the XXXX as well, but they are hiding behind the same excuse regarding policies with them as well, but without one single document with my signature on it that supports any of their claims. And regardless how much they try to justify their adherence to policy, considering the circumstances here, I feel an adjustment is well more than justifiable.
Thanks to these derogatory marks on my credit, it is hindering my ability to provide for my family, as my field of work ( banking ) relies heavily on credit scores when it comes to employment. Considering I was not ever given any notifications payments were going to begin if I didn't refile, these derogatory marks need to be corrected to reflect the fact that I should not have owed any payments at that time, as I provided them evidence back then that I had no income. I even provided them with the death certificate of my father to show my circumstances at the time, but they STILL did nothing!
Company Response: Closed with explanation
2019-04-25
Woodland Hills, CA
Incorrect information on your report
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Account information incorrect
Company Response: Closed with explanation
2019-04-25
District Heights, MD
Dealing with your lender or servicer
Student loan: Federal student loan servicing
Need information about your loan balance or loan terms
Company Response: Closed with explanation
2019-04-25
IL
Dealing with your lender or servicer
Student loan: Federal student loan servicing
Need information about your loan balance or loan terms
Complaint: Hi I am in desperate need and would greatly appreciate your help. I called both XXXX as well as Nelnet requesting the original Promissory Note signed for the loans in question and was told that neither servicer had them in their possession. I called the Department of Education and I was told that I was not in their system. I logged onto XXXX and saw that they were reporting all of the student loans as closed. Then logged on a couple of weeks later and the loans were back active. I submitted a dispute to all three credit bureaus stating that they did not have the promissory note and I received a response from Nelnet saying that I had previously signed a forbearance ( hardship ) .Obviously, I signed the hardship forbearance because I could not afford to make the payments. I received a call from XXXX today and I was told that they will send me something in the mail soon ( possibly a promissory note ). I am not saying that I don't owe a student loan, I'm saying that I have no idea which loan is legitimately mine. I am confident that all of the loans that both XXXX and Nelnet say are owed by me are not mine. I have been dealing with illnesses most of my life but deemed XXXX in XX/XX/1998 by Social Security. I've tried working twice but found myself continuing to battle my illness which keeps me unable to work. I'm just asking for fairness and clarity. I was a victim of identity theft with XXXX XXXX, someone was stealing what little money I had. I filed a police report last year. Hopefully, whoever it is will be caught. Meanwhile, I am begging for your assistance. Please help me to secure the original promissory notes for all of the loans that have been assessed to my account. Thank You!!!!
Company Response: Closed with explanation
2019-04-25
Bronx, NY
Incorrect information on your report
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Account information incorrect
Complaint: Nelnet updating a closed account. Nelnet
just changed the balance on an account that has been closed since XX/XX/2003.
This account has past the statue of limitation and needs to be deleted.
How can I be 120 days late when the account never had a 30 day late.
How can the account have a XXXX balance and a High balance of XXXX This is a clear violation of my rights. Please see attachment.
Company Response: Closed with explanation
2019-04-25
Oxford, GA
Problem when making payments
Credit card or prepaid card: General-purpose credit card or charge card
You never received your bill or did not know a payment was due
Complaint: I was shocked when I reviewed my credit report and found 90 days late payment on the dates XX/XX/2017. I am not sure how this happened, I believe that I had made my payments to you when I received my statements. My only thought is that my monthly statement did not get to me.
Company Response: Closed with explanation
2019-04-25
Woodland, WA
Written notification about debt
Debt collection: Federal student loan debt
Didn't receive notice of right to dispute
Complaint: the attorney general has this and is submitting it to the nelnet party to try to resolve they suggested you may be interested, the owning company nelnet took XXXX out of my social security check, i knew nothing about it, al lof a sudden i could not pay rent. i get XXXXsocial security iamXXXX years old, XXXX of that is for rent. so after rent is paid i have XXXXleft for the entire month since that took place i dont even have that now.everything has to go to pay rent to make up for the XXXX loss. i want that money returned so i can give it to landlord. this happened on XX/XX/2019 it concerns a student loan fromXX/XX/XXXX, a company called XXXX XXXX XXXX called me a year or so ago and worked it out so loan would be forgiven o rso they told me however nelnet still has that loan on there books about XXXX i went to school at XXXX college in XXXX wa to try and learn XXXX XXXX so i could get a good job, however i could not pass XXXX so i was not allowed to continue. so i only went 1 semester.i learned later that due to my age and some XXXX factors i would not get hired had i completed the course.i think XXXX college should have refused me in the beginning, as they knew my situation. i still would like to pursue that education as that is a hot topic in the coming years, buti guess i cant. XXXX XXXX
Company Response: Closed with explanation
2019-04-25
Five Points, NC
Incorrect information on your report
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Information belongs to someone else
Company Response: Closed with explanation
2019-04-24
Jupiter, FL
Dealing with your lender or servicer
Student loan: Federal student loan servicing
Trouble with how payments are being handled
Complaint: My Original loan was for the amount of {$12000.00} on XXXX of XXXX Started making payments in this loan on XXXX XXXX. for {$140.00} Today in XX/XX/XXXX Fifteen Years later still making monthly payments that does not bring this account to XXXX balance.
IRS credit to Nelnet through College assist {$3100.00} on XX/XX/XXXX, XXXX I do not see this amount credited.
Statements they send me are very confusing for they do not show transparency and clarity or simplicity .... I consolidate in one single loan amount and they send me today XXXX sheets that do not reflect my balance on the monthly bases.
I believe I have paid this loan 3 times over, and I need a statement of paid off, and clear this high loans from the credit bureau. I need to collect a credit on my favor for over payment ...
Company Response: Closed with explanation
2019-04-23
AR
Dealing with your lender or servicer
Student loan: Federal student loan servicing
Received bad information about your loan
Complaint: Nelnet loans tried to say that I took out loans by completeness the fafsa when I took out Pell Grant. I was threaten to be prosecuted and garnished of my XXXX income regardless if I make more payment.
Company Response: Closed with explanation
2019-04-22
Federal Way, WA
Dealing with your lender or servicer
Student loan: Federal student loan servicing
Trouble with how payments are being handled
Complaint: I noticed the amount of interest accumulating on my loans has not been adding up the past several months. I called my loan service provider, Nelnet, for the first time on XX/XX/19 at XXXX and talked to XXXX . He investigated and found a mistake in my Loan Group B, Number 8. One of the loans in this group should not have been placed in this group and so none of my payments have gone to this loan over the past 5 years. Therefore, this loan was accumulating interest non-stop. He stated the mistake would be fixed in 3-5 business days. My main concern was that I would be responsible for paying for all of the interest. Nothing changed for several days so I called again XX/XX/19 at XXXX and talked to XXXX . She agreed that she could see the process was started to remedy the situation but that it was not complete. I got an email XX/XX/19 that my one-time special payment instruction was approved, indicating future payments will now by going to this loan, however all of the interest was still present. I feel I should not be responsible for paying for all of this interest when it was a mistake from my loan service provider.
Company Response: Closed with explanation
2019-04-21
Centerville, CA
Dealing with your lender or servicer
Student loan: Federal student loan servicing
Received bad information about your loan
Company Response: Closed with explanation
2019-04-21
FL
Problem when making payments
Credit card or prepaid card: General-purpose credit card or charge card
You never received your bill or did not know a payment was due
Complaint: I was shocked when I reviewed my credit report and found 180 days late payment on the dates XX/XX/XXXX to XX/XX/XXXX. I am not sure how this happened, I believe that I had made my payments to you when I received my statements. My only thought is that my monthly statement did not get to me.
Company Response: Closed with explanation
2019-04-20
Manhattan, NY
Dealing with your lender or servicer
Student loan: Federal student loan servicing
Received bad information about your loan
Company Response: Company can't verify or dispute the facts in the complaint Closed with explanation
2019-04-20
KY
Dealing with your lender or servicer
Student loan: Federal student loan servicing
Received bad information about your loan
Complaint: I have been a full time enrolled student at XXXX University since XX/XX/2019. I applied for the grant and loans and was approved on XX/XX/XXXX. I was told I would recieve 2 seperate checks one in the amount of XXXX and another in the amount of XXXX within 10-12 weeksre from the date of being approved. However XX/XX/XXXX my 12 weeks will be up and I havent recieved anything yet. I keep contacting my sfa, and my ssa and everyone i can at the school but they tell me they are waiting on the department of education to release the funds to them then as soon as the get it I would recieve the rest in the above amounts for living expenses. I decided to contact the department of education financial aid and was told as you can see in the chat below that the funds was sent to XXXX XXXX college the next buisness day after they recieved it. According to the college they have not recieved anything yet. I just want straight answers and I am not getting them. I have talked with other students and most of them recieved theirs already within like 6 weeks and only 3 others besides myself havent recieved anything yet. Please help!!
Company Response: Closed with explanation
2019-04-19
San Jose, CA
Dealing with your lender or servicer
Student loan: Federal student loan servicing
Received bad information about your loan
Company Response: Closed with explanation
2019-04-19
Mount Chase, ME
Incorrect information on your report
Student loan: Federal student loan servicing
Account information incorrect
Company Response: Closed with explanation