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 64
2018-03-31
Everett, WA
Dealing with your lender or servicer
Student loan: Federal student loan servicing
Trouble with how payments are being handled
Complaint: I graduated XXXX school in XX/XX/XXXXand finished residency in XX/XX/XXXX. My student loans came due before I finished so I had to consolidate because otherwise our monthly cash flow would be unsustainable. The original amount was ~ {$110000.00} and the interest rate was ~6 % which was the weighted average of the interest rates of all the individual loans I initially signed. I signed up for auto pay and received a slightly lower interest rate ( 5.75 % ) and a {$4000.00} onetime bonus. At that time, the holder of the loans was XXXX XXXX ( I believe ) who then sold it to XXXX who held them for about 12 years. The consolidated payment was $ XXXX/month but I began paying {$770.00} in an effort to reduce the principal. More recently, XXXX sold the loans to Nelnet and my first monthly statement from them showed my minimum monthly payment was {$770.00}. This alarmed me because I wanted to insure that the extra $ XXXX/month was credited to the principal to keep paying it down. I called Nelnet about the change and was reassured that the actual monthly payment due was still {$660.00} and that my extra payment was going to the principal. Just today however, I contacted a lender about refinancing one of my houses and during the information gathering, he told me ( while looking online at my credit score, loans and other financial obligations ) that the Nelnet loans ( I was unaware that there were actually 2 loans since I have only been making 1 payment the entire time ) had an interest rate of 7.4 %!! None of my individual, original loans had an interest rate this high! I've been making steady payments for over 15 years and have never missed a payment. I realize that amortization loans have high upfront interest payments but my outstanding balance of {$74000.00} still seems like an enormous amount given the fact that I've been making $ 101/month extra principal payments for over 5 years. I'm so upset and feel like I've been cheated by XXXX or Nelnet and didn't know where else to turn. The lender with whom I was speaking told me about CFPB so I'm reaching out to see if I can get clarity on this issue. I want to believe in organizational integrity and the general honor of mankind so I hope this is just a misunderstanding on my part. My fear is that my payment of {$770.00} was adopted by Nelnet as the minimum amount and that the interest rate was altered to extrapolate that over the term. Any clarity on these matters would be so welcome and would really bring peace to my heart.
Company Response: Closed with explanation
2018-03-30
Watkins, CO
Dealing with your lender or servicer
Student loan: Federal student loan servicing
Received bad information about your loan
Company Response: Closed with explanation
2018-03-29
Kingstree, SC
Incorrect information on your report
Student loan: Federal student loan servicing
Account status incorrect
Complaint: I
am writing this letter in response to late payments showing on my credit history from Nelnet on XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX. I found out these late payments where on my credit when I pulled my credit report on XX/XX/XXXX Once I was aware of the late payment status I logged into my Nelnet account online. I was sure that I had applied for forbearance during that time period and didnt understand why these late payments where on my account. However to my surprise all past account billing and forbearance letters had been removed from my online account from XX/XX/XXXX and back. Since I did not have any documentation listed there I decided to contact a Nelnet agent. When I inquired about the forbearance for XX/XX/XXXX I was told I was cover from that month to XX/XX/XXXX. I then ask why I would show late payments, and the agent then seemed confused and hesitant to inform me that my account was reflecting incorrect information. She just went on to say that I had missed the payments and they were valid, but could not explain the forbearance approval and how they could report missed payments during that forbearance period.
On XX/XX/XXXX I contact Nelnet once again to request a complete billing statement for the year XX/XX/XXXX to XX/XX/XXXX. I was informed again that there was a forbearance approved within XX/XX/XXXX. I requested that documentation but was informed that since it was not showing online for some reason that it had to be approved by another department before it could be sent to me. I was also informed that it could take up to a week before being sent. On that same day I decided to check my student loan information on the XXXX XXXX XXXX website. That is where I found that each of my loans that Nelnet services where showing a forbearance status. They are not showing missed payment or delinquent status.
I am requesting the investigation of this matter due to the fact that my loan status is showing forbearance status on each individual student loan. I dont feel that Nelnet is following proper procedure when it comes to updating the credit bureau and are reporting my information incorrectly.
Also I have attached the MyStudentData report showing each of the fifteen student loan accounts that Nelnet services. Each loan has the date highlighted in yellow before and after showing the status of the loan in Repayment before XX/XX/XXXX, then forbearance on XX/XX/XXXX, and then forbearance XX/XX/XXXX.
Company Response: Closed with explanation
2018-03-29
Piscataway, NJ
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
2018-03-28
Astoria, NY
Dealing with your lender or servicer
Student loan: Private student loan
Received bad information about your loan
Company Response: Closed with explanation
2018-03-28
ME
Dealing with your lender or servicer
Student loan: Private student loan
Trouble with how payments are being handled
Complaint: My Husband and I have been paying our loans through the company XXXX XXXX since getting out of school in XX/XX/XXXX and XX/XX/XXXX. We do have a variable interest rate on our loans but we just received a letter that we feel is not fair.
Every year our loans go up because of interest increasing but we received a letter on XX/XX/XXXX stating that they made a mistake with the interest rate between XX/XX/XXXX and XX/XX/XXXX and they didn't charge us enough. They are going to ask us to cover the cost of their mistake which coule be a lot of money. My husband owes over XXXX on his loan and I owe about XXXX ; so a year of lower interest could be thousands of dollars.
We already pay this company XXXX and XXXX a month and are struggling to make those payments.
Please let me know if this is acceptable I can attach the letters below There are no financials details as well, which is normal from this company.
In previosu years when our loans amounts increased instead of sending letters, informing us of our new bill amount, we get phone calls regarding late fees because we didn't pay enough money in the previous month.
They are very frustrating to deal with Thanks XXXX XXXX
Company Response: Closed with explanation
2018-03-28
Phila, PA
Incorrect information on your report
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Account status incorrect
Company Response: Closed with explanation
2018-03-27
Foothill Ranch, CA
Dealing with your lender or servicer
Student loan: Private student loan
Trouble with how payments are being handled
Complaint: I filed a previous complaint with CFPB a few weeks ago regarding my student loan that was transferred servicers from XXXX to XXXX. I had a loan modification several years ago through XXXX XXXX. My interest rate was reduced to 0 %. When my loan servicer was changed from XXXX to XXXX, my interest rate increased to 1 %. I filed the complain with CFPB, XXXX came back and said that there was an issue and all loans that were at 0 % increased to 1 % but that this issue has since been resolved. They said that my interest rate was back at 0 % and the issue has been resolved but I went on their website just now and my interest rate is still listed as 1 %. In addition, my payment history shows money applied to interest.
Company Response: Closed with explanation
2018-03-27
Belvedere, GA
Fraud or scam
Credit reporting, credit repair services, or other personal consumer reports: Credit repair services
Company Response: Closed with explanation
2018-03-27
Belvedere, GA
Fraud or scam
Credit reporting, credit repair services, or other personal consumer reports: Credit repair services
Company Response: Closed with explanation
2018-03-27
Kissimmee, FL
Dealing with your lender or servicer
Student loan: Federal student loan servicing
Keep getting calls about your loan
Company Response: Closed with explanation
2018-03-26
Chicago, IL
Problem with a credit reporting company's investigation into an existing problem
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Their investigation did not fix an error on your report
Company Response: Closed with explanation
2018-03-26
Brownstown, MI
Dealing with your lender or servicer
Student loan: Federal student loan servicing
Trouble with how payments are being handled
Company Response: Closed with explanation
2018-03-25
Torrance, CA
Written notification about debt
Debt collection: Federal student loan debt
Didn't receive enough information to verify debt
Company Response: Closed with explanation
2018-03-25
Houston, TX
Incorrect information on your report
Student loan: Federal student loan servicing
Account information incorrect
Company Response: Closed with explanation
2018-03-25
7 Corners, VA
Dealing with your lender or servicer
Student loan: Federal student loan servicing
Received bad information about your loan
Complaint: After almost a dozen written requests you still have refused to acknowledge or correctly apply the forbearance requested in 2017 despite your approval same. You now claim that my account is delinquent. Please correctly apply the 2017 forbearance request. If you need assistance in reconciling your records, or reconstructing records you may have misplaced, please refer to prior CFPB complaints and related documentation.
Company Response: Closed with explanation
2018-03-25
7 Corners, VA
Dealing with your lender or servicer
Student loan: Federal student loan servicing
Received bad information about your loan
Complaint: After almost a dozen written requests you still have refused to acknowledge or correctly apply the forbearance requested in XX/XX/XXXX despite your approval of [ " of '' inserted as correction to previously submitted complaint ] same. You now claim that my account is delinquent. Please correctly apply the XX/XX/XXXX forbearance request. If you need assistance in reconciling your records, or reconstructing records you may have misplaced, please refer to prior CFPB complaints and related documentation.
Company Response: Closed with explanation
2018-03-25
Ocklawaha, FL
Dealing with your lender or servicer
Student loan: Federal student loan servicing
Received bad information about your loan
Complaint: This student loan was obtained in XX/XX/XXXX. Since then t it has been in & out of forbearance for many reason, but mainly because I was a single mother. In XX/XX/XXXXI got married and due to my husband 's income I had to start repaying the loan. A few times I did receive more forbearance 's. XX/XX/XXXX I was XXXX XXXX XXXX with my XXXX child and I received a call that my paychecks would be garnished if I did not start repaying the loan. At that time I set up automatic withdrawals. I completed their rehabilitation program. I was then granted another forbearance and it was only for a few months. I was not aware the forbearance ended and received 5 late payment reporting : XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX & XX/XX/XXXX. Since that time I have been granted several more forbearance and made every payment due timely. Due to the fact that I was not aware nor received anything stating that my loan was due I feel that these late payments should be removed from my credit report. I have requested twice for these to be removed and Nelnet is acting unreasonably. Please help me. I will be paying for my XXXX XXXX loan probably until its time to send my own children to college.
Company Response: Closed with explanation
2018-03-25
Boston, MA
Dealing with your lender or servicer
Student loan: Federal student loan servicing
Trouble with how payments are being handled
Complaint: I made a payment of XXXX on XX/XX/2018 to Nelnet to pay off my studenbt loan A, which had about {$500.00} left on it. I used the site to specify that I wanted the full balance of loan A paid off, with the remainder going to loan E. They allocated {$410.00} to loan A, {$83.00} to loan C, {$500.00} ( this is the amount i specified for this group ) to loan E, and {$14.00} to loan F. I did not ask for a payment to either loan C or loan F. All of my loans were caught up and paid on time. Nelnet is asking to do a " research '' on why this happened, also claiming I had standing special instructions in place but could not tell me what those instructions were and where these numbers came from. I still owe {$61.00} on loan A as of today, when it was supposed to be paid off. They appear to both know and not know what happened - not sure why they have to research if they're standing behind this choice.
I have had standing special instructions in the past, but they have only applied to my autopayment which has consistently been misallocated as well. Every month I have to chat with them at least once to get it fixed. My special instructions had stated to pay off the highest interest loan first with any additional funds in my auto pay payment, which would have been loan A in the first place. They could not give an answer as to why this wasn't followed, or even what they have for special instructions on their end. What do I do to get this loan paid off? I have been making consistent on time payments and had no balance due when I made the payment, as I have autopay set up for the minimum payment and make my additional payments manually, as I did in this case. There is no reason to go against my wishes when I submitted to pay by group on the site.
Company Response: Closed with explanation
2018-03-24
Fort Russell, IL
Dealing with your lender or servicer
Student loan: Federal student loan servicing
Don't agree with the fees charged
Complaint: I WAS NEVER UNDER TH IMPRESSION THAT I WERE USING ALL LOANS TO COVER SCHOOLING. I WAS UNDER THE IMPRESSION THAT I WAS USING FINANCIAL AIDE AS WELL.i NEED TO KNOW WHY WERE SO MANY LOANS BEING USED.AND AFTER SCHOOL I FIND OUT THE CLASSES WERE NOT ACCREDITED. PLEASE CONTACT ME XXXX
Company Response: Closed with explanation
2018-03-22
Clermont, FL
Incorrect information on your report
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Information belongs to someone else
Complaint: TOLD COMPANY NEVER OPEN A STUDENT LOAN EMAIL AND CALL FOR PROOF OF DOCUMENT NOTHING WAS DONE
Company Response: Closed with explanation
2018-03-22
Los Angeles, CA
Dealing with your lender or servicer
Student loan: Federal student loan servicing
Trouble with how payments are being handled
Company Response: Closed with explanation
2018-03-22
Boogertown, NC
Struggling to repay your loan
Student loan: Federal student loan servicing
Problem lowering your monthly payments
Company Response: Closed with explanation
2018-03-22
Lenzburg, IL
Incorrect information on your report
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Account status incorrect
Complaint: Took what I thought was a private loan from XXXX XXXX out in 2006. The college recommended XXXX XXXX. My credit report now show Nelnet as my servicer and XXXX XXXX as my lender. No original loan paperwork has been sent to me. My credit report has multiple loans showing. Same amount same loan number appears to be duplicate.
Loan is now showing as a FFEL when it was private. Loan is over 10yrs old. I have disputed to no avail. Did not apply for a XXXX XXXX loan with XXXX Nelnet or XXXX. My college recommended XXXX XXXX for a XXXX XXXX dollar personal loan. I have graduated and can not find a job, I would like to have this removed
Company Response: Closed with explanation
2018-03-22
Mount Holly, OH
Incorrect information on your report
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Account information incorrect
Complaint: No contract Company Refused to COMPLETELY validate the debt per federal guidelines Insufficient response
Company Response: Closed with explanation