NELNET, INC.

2017-09-17

MO

Struggling to repay your loan

Student loan: Federal student loan servicing

Can't get other flexible options for repaying your loan
Complaint: In my name, as a parent, I agreed to a XXXX XXXX XXXX for my son to attend this college in XXXX. It was {$30000.00}. That was not the issue. The issue is XXXX of XXXX, XXXX now owns the loan. As a single mother, my bill came in at {$110000.00} stating the XXXX XXXX XXXX XXXX is XXXX/XXXX/XXXX. Each time it goes into deferment, the interest is being capitalized. This INSANITY has to stop. XXXX says this is my only option as I am not eligible for anything else. I am a single parent and neither I or my son can pay the monthly payments. I was told that I could get no help because it is a " XXXX XXXX '' XXXX. I am not smart and this is XXXX me. Please help, I do n't know what to do!! I am XXXX XXXX XXXX and barely make just above minimum wage. I have no assets either since a recent divorce.
Company Response: Closed with explanation

Timely Response

2017-09-17

Island Trees, NY

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

Timely Response

2017-09-16

VA

Dealing with your lender or servicer

Student loan: Private student loan

Trouble with how payments are being handled
Complaint: Nelnet misrepresented the terms of my loan, consistently misapplied my payments and continues to conceal the true nature of my loan, thereby acting in bad faith and failing to behave in a manner consistent with reasonable commercial standards of fair dealing. I have asked numerous times for Nelnet to tell me the terms of my loan. As you will see in Attachment 1, documents claiming to be repayment schedules, state on their face different numbers of payments required to pay the loan in full. Another document, Attachment 2, has another repayment begin date, and when the University of XXXX Financial Aid Counselor called Nelnet on my behalf recently ( XXXX XXXX, XXXX ), the Nelnet representative told her that I am on a 30-year repayment schedule, see Attachment 3. Nowhere in any of the documents attached does Nelnet indicate that I am on a 30-year repayment schedule. Nelnet has purposefully obfuscated regarding a provision that should be clear on the face of the notethe repayment term. It seems that Ive been paying just interest since my payments began in XXXX. If that is the case, then in fact Nelnet set up an interest only loan, with negative amortization, and a balloon payment spread over multiple payments. None of that was disclosed on any document that I signed, or agreed to by me. Moreover, Nelnet has consistently misapplied my payments to them over the last 12 years, resulting in a de minimus reduction in what Nelnet claims to be the principal amount of my student loan. I have paid an extra sum each month, and instructed Nelnet to apply the additional amount to principal, but instead, they consistently ignore my instructions, hold my payments and apply the additional amount to future interest. No rational person would ever agree to such an arrangement. To repeat what I said above, this would mean that the loan is effectively transformed into a non-consensual, interest-only loan with a required balloon payment, sometime in the unknowable future, equal to the original amount of the loan. Thus, the ultimate effect of all payments is not to pay down the note, but to postpone the balloon payment and enrich Nelnet. I consolidated student loans with Nelnet in XXXX. I asked Nelnet to provide supporting information regarding the actual bills they paid on my behalf when they consolidated the loans. All I received from Nelnet in response are three documents that appear to be copies of checks paid to US Department of Education and XXXX XXXX, in Attachment 4. I attended University of XXXX and they provided me with an accounting of what I owed while attending, and the total is approximately {$52000.00} paid by subsidized and unsubsidized direct loans. I also may have had a parent loan consolidated. When you add up the numbers seemingly disbursed by Nelnet in Attachment 5, the total comes to {$73000.00}, not {$78000.00}. Also included in Attachment 4, Nelnet sent me a letter in XXXX stating that the {$27000.00} listed on an application was verified as {$17000.00}, apparently owed to the US Department of Education, which continues to add to my confusion. The notes that I signed ( Attachment 6 ) add up to entirely different figures. Thus, I dispute the actual amount Nelnet paid to consolidate my loans. Moreover, Nelnet has never explained why I was required to sign two notes for the same amount ( {$8900.00} ), in Attachment 6, and as I mention several times, none of the numbers add up. Finally, Nelnet did disclose, but in a totally inconspicuous manner, the fact that I may forfeit any right of forgiveness I might have by consolidating my loans. If this had been brought to my attention, and not buried in the boilerplate of their documentation, I never would have signed the notes. I worked for more than 10 years at XXXX XXXX XXXX and would have been eligible to have my loans forgiven, had I not consolidated. Since I was a public servant for over ten years, I want Nelnet to forgive my loans.
Company Response: Closed with explanation

Timely Response

2017-09-15

Federal Way, WA

Dealing with your lender or servicer

Student loan: Federal student loan servicing

Need information about your loan balance or loan terms
Complaint: On multiple occasions since the beginning of the year I have asked Nelnet, my student loan servicer, to send me copies of my monthly statements from XXXX XXXX to XXXX XXXX. Several times I was promised the statements but never received them, while on other occasions I was told that retrieving statements more than 12 months in the past was not possible. Nelnet states that all this data is purged from the system after 12 months time. With a loan balance of {$120000.00} it seems highly unlikely that the company does not have records of my monthly statements going back farther than 12 months. I require these statements in order to verify that my student loan has been serviced correctly and that the amounts added as interest or capitalized to principal are correct. So far, the company has refused to cooperate. Any large financial institution handling loans of this size : credit cards companies, banks, brokerage firms, all have the ability to locate statements going back several years. They are sometimes archived, but they are never deleted. If true, it is highly irresponsible of Nelnet to delete these statements when storage data these days is so inexpensive. Since it seems highly improbable that these statements are no longer in their possession, I am writing to the CFPB to assist me in compelling Nelnet to retrieve these statements from their archives and to send them to me by mail or email. If they truly have deleted these statements as they claim, I would like them to recreate the information as one would see it on a monthly statement, and send me the results. Given the amount of this loan, it is unreasonable that Nelnet is refusing to comply with such a simple request.
Company Response: Closed with explanation

Timely Response

2017-09-15

Charlotte, NC

Incorrect information on your report

Student loan: Federal student loan servicing

Account status incorrect
Complaint: I was shocked when I reviewed my credit report and found late payments on the dates below. 90 days late XXXX XXXX 90 days late XXXX XXXX I am not sure how this happened since I was enrolled in school at these dates and when contacting nelnet directly they informed me this information has been updated in which it has not.
Company Response: Closed with explanation

Timely Response

2017-09-15

Occoquan, VA

Dealing with your lender or servicer

Student loan: Federal student loan servicing

Don't agree with the fees charged
Complaint: I have Nelnet as my student loan servicer. I have attended many school as this is needed to stay current in the IT profession. I have attended an still owe loans to : XXXX XXXX XXXX, XXXX XXXX XXXX Each one of these loans was taken out as a fixed rated loan. However, I have almost accrued more interest on the loans than the initial loan amounts. This is, I have been told because the loans are not fixed rate but Variable rate loans -- which I never agreed to. If there any way to erase these unfair interest fees? I have XXXX XXXX ( but work ) and a Veteran. I often get sick and have been in the hospital or out of work over the years due to my illness. Currently the Nelnet people, keep deferring my loan-which increases the interest. How can I reduce the interest rates and the loan amount? They say I own XXXX ( without interest it would be XXXX ). I can not begin to afford this amt.
Company Response: Closed with explanation

Timely Response

2017-09-14

Providence, RI

Dealing with your lender or servicer

Student loan: Federal student loan servicing

Trouble with how payments are being handled
Complaint: In XXXX I applied to lower my payments. My application was never processed. I was then told I needed to pay money to exit the payment program I was in which I was never asked to do. I did this and I had to reapply. This whole process delayed about XXXX months and forbearance had to be added to my account and interest capitilized. I was also told that my payment would lower based upon the information I provided over the phone. My payment did not lower. I was threatened wage garnishment if I did not pay. When I complained about how long this process took, they back dated my payments XXXX months. I disputed this and when I asked if I could afford to come up with XXXX months of payments if they could credit them as showing timely due to this poor decision, they declined and if I made the payments they would show as late. I refused until they would resolve my loan. This has caused me extreme distress especially because they call me and email me constantly advising me how late my account is showing. I was then called and told that if I made XXXX payment on XXXX, they would apply a XXXX month administrative forbearance on my account. I had no other issue because I didnt want my credit damaged but they would not reverse all of the interest that kept capitalizing. I made a payment on XXXX. I was then told they could not apply any administrative forbearance on my account and refused to give me even a regular forbearance.
Company Response: Closed with explanation

Timely Response

2017-09-14

Healy, AK

Incorrect information on your report

Credit reporting, credit repair services, or other personal consumer reports: Credit reporting

Account information incorrect
Complaint: I have contacted this company 4 different times, 2 times on the phone and mailed 2 letters to the CEO of the company about late fees that is being reported on my loans with their company. I advised him that the late payments are being posted for XXXX and XXXX of XX/XX/XXXXso its showing up XXXX times on my credit report because I have more than one loan with Nelnet. These late payments should not be posted on my credit report because I was on a administrative forbearance, that bought my account current to XXXX of XXXX. So if my account was bought current and back dated to XXXX of XXXX then how can there be late payments posted for XXXX and XXXX of XXXX. I have filed complaints with the credit bureau 's about it and they just keep coming back stating that the information has been verified and yet no one will send me documentation to show how this is actual correct postings. Every representative that I have spoken to at Nelnet has stated that these late payments should not be there because of the forbearance but neither of them were able to remove or update the information with the credit bureau 's. I have emails from 2 different reps that stated the same thing that my account was current that there was no payment due until XXXX of XXXX. I also spoke to an advisor at Nelnet and she suggested that I consolidate my loans so that the late payments could be removed, so at the advise of this advisor I did just that and shocking to my surprise the accounts and late fees are still being posted on my account.
Company Response: Closed with explanation

Timely Response

2017-09-14

Humble, TX

Dealing with your lender or servicer

Student loan: Federal student loan servicing

Don't agree with the fees charged
Company Response: Closed with explanation

Timely Response

2017-09-14

NY

Dealing with your lender or servicer

Student loan: Federal student loan servicing

Don't agree with the fees charged
Complaint: I want full validation on my student loans. How much is owed. Where was the money applied to and why are there extra charges.
Company Response: Closed with explanation

Timely Response

2017-09-13

Lawrenceville, GA

Dealing with your lender or servicer

Student loan: Federal student loan servicing

Received bad information about your loan
Company Response: Closed with explanation

Timely Response

2017-09-13

MI

Dealing with your lender or servicer

Student loan: Federal student loan servicing

Received bad information about your loan
Complaint: I was told that nelnet had my student loan and my loans had gone into collections. I called telnet and they told me that they had no knowledge nor info on my account, and that it was referred to a dept collection agency and l now owe the collection agency and l would like to know how do l owe them anything?
Company Response: Closed with explanation

Timely Response

2017-09-13

Warrenton, VA

Improper use of your report

Student loan: Federal student loan servicing

Reporting company used your report improperly
Complaint: FULL VALIDATION
Company Response: Closed with explanation

Timely Response

2017-09-13

Brooklyn, NY

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
Company Response: Closed with explanation

Timely Response

2017-09-13

Ontario, CA

Dealing with your lender or servicer

Student loan: Federal student loan servicing

Received bad information about your loan
Company Response: Closed with explanation

Timely Response

2017-09-13

Shulerville, SC

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

Timely Response

2017-09-12

Carmel, 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

Timely Response

2017-09-11

Hampton, VA

Dealing with your lender or servicer

Student loan: Federal student loan servicing

Trouble with how payments are being handled
Complaint: On Friday XX/XX/XXXX ( the due date for my student loan ) I noticed that my student loan bill from Nelnet was still showing as due. In fact it showed that the payment was overdue and my new amount due by XX/XX/XXXX was {$1100.00}. Thinking I had somehow missed my payment I scheduled a payment to be made on XX/XX/XXXX. I thought I had made the payment previously, but I checked my account and could not see any pending payments or anywhere where I had scheduled the payment already. Then on XX/XX/XXXX I saw that two payments were being processed from my checking account. Apparently I had scheduled a payment for XX/XX/XXXX at the end of XX/XX/XXXX. Since the website did not show this payment I was induced to pay the student loan twice, wrongfully. I called Nelnet and asked them to reverse the second payment on my account. They refused. I asked them why they do not show scheduled payments. She had no answer and said I could file a complaint. I told her their website should clearly show to the consumer when they have already scheduled a payment. She said she would note that on my complaint form. It appears that Nelnet has purposefully set up their website to cause confusion. In fact one could argue their website is misleading. I truly thought I had missed my XX/XX/XXXX payment when I did not. They said they will apply the double payment to my XX/XX/XXXX statement. But that does not solve the problem. Their website should clearly show when payments have been previously scheduled. I do not get any benefit for paying my XX/XX/XXXX payment early. They seem only concerned about collecting the money. Nelnet does not seem concerned that their website is misleading. This issue should be addressed since it is very simple fix. Nearly every company I do business with online shows your scheduled payments. There is no reason Nelnet does not do it. One can only assume that they are purposefully leaving this option off their website to mislead consumers into paying their accounts early through erroneous double payments. Luckily I had funds in my account to cover this double payment. But someone else who makes this mistake may not. I have contacted my bank and been told that the only thing I can do is dispute the ACH. By the time that dispute is done I will have to make the XX/XX/XXXX payment so I should just let the payment stay. Nevertheless, Nelnet should be made to address this complaint. Their website is misleading. They need to change their website so that consumers can easily tell when they have already made their payments.
Company Response: Closed with explanation

Timely Response

2017-09-11

TX

Dealing with your lender or servicer

Student loan: Federal student loan servicing

Trouble with how payments are being handled
Complaint: I was awarded XXXX on XXXX XXXX, XXXX. I received my back pay on XXXX XXXX, XXXX at which time I payed off the smaller of my two XXXX XXXX loans in the amount of {$8900.00} to Nelnet. I also payed a total of {$800.00} on my XXXX student loan. I made these payments on the same day that I received my back pay in an effort to reduce my debt so I could live off my limited income. Approximately one month later, ( I 'm unsure of the exact date and ca n't seem to find the original notice ) I was notified in writing that I was eligible for discharge of my student loans and requested to complete the application, which I did. Nelnet services the discharge process, and at this point I have been approved for that. The problem is that they will not refund this payoff that I made out of my XXXX back pay because the state that any payments I made before they were aware of my eligibility are not refundable. They do n't use the date that the XXXX signed the XXXX approval or the date that I was notified. They are essentially keeping almost {$10000.00}, which is 1/3 of the back pay I received. I thought I was doing what was best because I was not aware that XXXX recipients were eligible for discharge. It 's not something my attorney talked to me about as a possible outcome even though he was aware that I have a degree. I feel this is a very unfair practice by Nelnet and perhaps there are others who have had this happen and not been able to get anywhere with Nelnet on refunding that payment that would have been XXXX if I had not decided to pay it off to make my minimal monthly income stretch a bit farther. I have spoken to Nelnet on multiple occassions about this and they will not consider refunding my payments. I have not been able to find an attorney to work with me on a pro Bono basis so I am attempting this avenue.
Company Response: Closed with explanation

Timely Response

2017-09-09

Milwaukee, WI

Dealing with your lender or servicer

Student loan: Private student loan

Trouble with how payments are being handled
Company Response: Closed with explanation

Timely Response

2017-09-09

Nashville, TN

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

Timely Response

2017-09-08

Philadelphia, PA

Dealing with your lender or servicer

Student loan: Federal student loan servicing

Received bad information about your loan
Complaint: As of XXXX XXXX, 2017 my consolidated student loans were transferred without any advance notice from XXXX to Nelnet. Prior to the transfer I had a income based repayment plan to which I was paying {$150.00} per month and my loan balance was at or near {$46000.00}. After I received notification from Nelnet they were the new servicer of the loan my payments subsequently went up to {$210.00} per month and my total student loan balance was over {$47000.00}. When I reached out to Nelnet via phone to get answers I was told they had limited information as XXXX had not transferred all of my history and loan information over. I have made consistent and timely payments and I had yet to reach the first 2 year period of my income based repayment plan. I feel is if I am being gauged by Nelnet and as if they had added fees and surcharges to my account inaccurately.
Company Response: Closed with explanation

Timely Response

2017-09-08

College, NY

Dealing with your lender or servicer

Student loan: Federal student loan servicing

Trouble with how payments are being handled
Company Response: Closed with explanation

Timely Response

2017-09-07

Auburn, WA

Dealing with your lender or servicer

Student loan: Federal student loan servicing

Received bad information about your loan
Complaint: I 've requested that Nelnet honor my six-month grace period, yet Nelnet has yet to do so. In the most recent correspondence, dated XXXX XXXX XXXX, the deferment details are listed as : Start date : XXXX/XXXX/XXXX End Date : XXXX/XXXX/XXXX Next payment due : XXXX/XXXX/XXXX The distance in time between the end date and the next payment due date is not six months. I request that Nelnet make the appropriate correction to its records. Thank you.
Company Response: Closed with explanation

Timely Response

2017-09-04

Bryan, TX

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

Timely Response