NELNET, INC.


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"Products" offered by NELNET, INC. with at least one, but usually more complaints:

Checking or savings account - Checking account
Consumer Loan - Installment loan
Credit card - General-purpose credit card or charge card
Credit card or prepaid card - General-purpose credit card or charge card
Credit reporting -
Credit reporting or other personal consumer reports - Credit reporting
Credit reporting or other personal consumer reports - Other personal consumer report
Credit reporting, credit repair services, or other personal consumer reports - Credit repair services
Credit reporting, credit repair services, or other personal consumer reports - Credit reporting
Credit reporting, credit repair services, or other personal consumer reports - Other personal consumer report
Debt collection - Credit card debt
Debt collection - Federal student loan
Debt collection - Federal student loan debt
Debt collection - I do not know
Debt collection - Medical debt
Debt collection - Non-federal student loan
Debt collection - Other (i.e. phone, health club, etc.)
Debt collection - Other debt
Debt collection - Payday loan debt
Debt collection - Private student loan debt
Debt or credit management - Debt settlement
Money transfer, virtual currency, or money service - Debt settlement
Money transfer, virtual currency, or money service - Domestic (US) money transfer
Money transfer, virtual currency, or money service - Mobile or digital wallet
Money transfer, virtual currency, or money service - Refund anticipation check
Money transfer, virtual currency, or money service - Virtual currency
Mortgage - Conventional home mortgage
Mortgage - Home equity loan or line of credit (HELOC)
Mortgage - Other mortgage
Other financial service - Debt settlement
Payday loan, title loan, or personal loan - Installment loan
Payday loan, title loan, or personal loan - Payday loan
Payday loan, title loan, or personal loan - Personal line of credit
Payday loan, title loan, personal loan, or advance loan - Installment loan
Payday loan, title loan, personal loan, or advance loan - Personal line of credit
Student loan - Federal student loan servicing
Student loan - Non-federal student loan
Student loan - Private student loan
Vehicle loan or lease - Loan

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Complaint ID: 6764224

Date Received: 2023-03-28

Issue: Dealing with your lender or servicer

Subissue: Problem with customer service

Consumer Complaint: On XX/XX/23, I initiated contacted with Nelnet, the new service provider for my federal student loans. Upon creating an account, I noticed that Multi-Factor Authentication was not offered during signup, and not available for configuration after signup. I asked Nelnet about their password policy, which limits passwords to 15 characters, as well as only offering the inclusion of only six special characters within their passwords, as well as the lack of MFA. Specifically, I said, " Why is MFA not an option, and why are passwords limited to 15 characters? '' Their response : " There is a mulit factor authentication, you have to pick a picture, when you set up the account. I apologize, that I can not answer this better for you. '' My response : " That's not Multi-Factor Authentication. That's user validation that they're logging into the correct account, not the same thing. If I was a threat actor, it would be simple to just _ignore_ that. '' Their response : " I get where you are coming from, do you have any other questions? '' My response : " What will you do with this? '' Their response : " You do not have to sign up for XXXX. If you are not comfortable with the process then you more than welcome to call in for questions on your account. Nothing will be done with this chat, you can save it, if you want and XXXX is the online login. '' I then linked https : //www.consumerfinance.gov/compliance/circulars/circular-2022-04-insufficient-data-protection-or-security-for-sensitive-consumer-information/, which lists the requirements for MFA. I then let them know that they'd informed me as an agent of Nelnet that they're not going to do anything, so I'd be contacting the CFPB regarding their disregard of the security requirements for accounts. Their response to this : " They have a security image as well as a password on a secure website. If they have an issue with that you can file a complaint for them. What we have is not violating anything, if it was we would have change it already. '' This is highly disturbing, in that they are a large service provider for federal student loans.

Company Response:

State: TX

Zip: 78240

Submitted Via: Web

Date Sent: 2023-03-28

Company Response to Consumer: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A


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Complaint ID: 6763937

Date Received: 2023-03-28

Issue: Problem with a credit reporting company's investigation into an existing problem

Subissue: Their investigation did not fix an error on your report

Consumer Complaint: I have been trying to get this Late payment off my credit report for months. I have sent in 5 disputes and nothing is being done. I have sent in proof that I myself are submitting the request to have this removed. I have filled for a full file disclosure and never received it. The Family Educational Rights and Privacy Act ( FERPA ) is a federal law enacted in 1974 that protects the privacy of student education records. FERPA applies to any public or private elementary, secondary, or post-secondary school. 20 USC 1232g ( b ). The financing associated with students education is part of their records and should be maintained private according to this law. Client did not opt in at any time for the bureaus to report their student education records.

Company Response:

State: IL

Zip: 60827

Submitted Via: Web

Date Sent: 2023-03-28

Company Response to Consumer: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A


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Complaint ID: 6763121

Date Received: 2023-03-28

Issue: Improper use of your report

Subissue: Credit inquiries on your report that you don't recognize

Consumer Complaint: in accordance with the fair credit reporting act, this creditor has violated my rights under 15 USC 1681 section 602 states i have the right to privacy. 15 USC 1681 Srction 604 A, section 2 it also staes a consumer reporting agency can not furnish an account without my written instructions. under 15 USCS 1666B a creditor may not treat a payment on a credit card account under an open end consumer credit plan as late for any purpose.

Company Response:

State: NY

Zip: 139XX

Submitted Via: Web

Date Sent: 2023-03-28

Company Response to Consumer: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A


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Complaint ID: 6761086

Date Received: 2023-03-29

Issue: Dealing with your lender or servicer

Subissue: Trouble with how payments are being handled

Consumer Complaint: When the XXXX admin announced the student loan forgiveness, I was eligible to have my payments from XX/XX/XXXX thru current date refunded. At the time of the plan 's initial rollout I had already paid my student loans completely off. However, in accordance with the XXXX plan I was able to request all my payments from XX/XX/XXXX to XX/XX/XXXX be refunded to my account and a check mailed to me, or an electronic deposit. I called Nelnet in XXXX or XXXX to have my refund initiated. After a few weeks I saw the balance reappear in my Nelnet account, approximately XXXX XXXX dollars. I then waited many months for the electronic deposit or the paper check to " balance '' this out. I have not yet received such payment. I have called them at least XXXX separate times since last fall to try to get the update on where my money is and every time they say the federal reserve is backed up. However I have also seen and heard countless people doing the exact same tjing as me and they get their refund in a timely manner. I am afraid that if I do not get this check, I will be on the hook for the XXXX XXXX dollars in my account balance, and that is unfair because technically I already paid that off. The studentaid.gov website says that lenders are to refund borrowers via XXXX XXXX that they initially paid in. All my loan payments were made electronically, and therefore a refund should be processed and sent electronically. This process shouldn't take XXXX freaking months. I have tried being nice on the phone every single time and I am at my wits end. Student loan repayments are to be continued this year and I do NOT plan on sending payments to pay a " ghost balance '' in my account to keep my credit score up. I need you guys to force their hand and have the check mailed to me immediately. Thank you.

Company Response:

State: IL

Zip: 61554

Submitted Via: Web

Date Sent: 2023-03-29

Company Response to Consumer: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A


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Complaint ID: 6757752

Date Received: 2023-03-27

Issue: Dealing with your lender or servicer

Subissue: Trouble with how payments are being handled

Consumer Complaint: I initiated a payment with Nelnet on XX/XX/23 in the amount of {$680.00}. The payment was withdrawn from my XXXX XXXX checking account on XX/XX/23. I have provided Nelnet with the bank statement and Nelnet payment confirmation email. The payment was no applied to the student loan as instructed. I have contacted Nelnet every day from XX/XX/23 to XX/XX/23 and have been told either someone will call me eventually or they have no record of my payment. It is important to note I canceled a payment of {$680.00} on XX/XX/23, as I keyed in the incorrect amount. I proceeded to initiate another payment ( the one in question ) for the correct amount of {$680.00}. After submitting documentation via email multiple times, Nelnet is stating to send in the documentation again. I am making no progress with Nelnet. Nelnet is also asking me to provide Personal Identifiable Information ( PII ) such as my name, date of birth and account number via email. This email is not secured and sending PII through unsecure technology is not a recommended practice. I am asking that Nelnet fix the error at hand and apply my payoff to the correct loan.

Company Response:

State: DE

Zip: 199XX

Submitted Via: Web

Date Sent: 2023-03-27

Company Response to Consumer: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A


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Complaint ID: 6748279

Date Received: 2023-03-25

Issue: Incorrect information on your report

Subissue: Old information reappears or never goes away

Consumer Complaint: Debt was transfered from one servicer to another and late payments due to deferment information not being sent to correct address because I moved to a different state still shows on new creditor

Company Response:

State: VA

Zip: 245XX

Submitted Via: Web

Date Sent: 2023-03-25

Company Response to Consumer: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A


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Complaint ID: 6746151

Date Received: 2023-03-24

Issue: Dealing with your lender or servicer

Subissue: Received bad information about your loan

Consumer Complaint: I refinanced the loan through a separate lender ( XXXX ) because of lower rates. FirstMark Services purchased the initial loan from XXXX XXXX. XXXX disbursed the payments on 4 notes to FirstMark on XX/XX/2023 total {$43000.00}. I received 4 letters stating that the loans were PAID IN FULL. I am currently making payments to XXXX for the refinancing. On XX/XX/2023, FirstMark reversed the payments. The loan is active, accruing interest and late fees. I've spoken to XXXX XXXX customer service representatives and supervisors. No one has any idea as to why the payments reversed. In addition, I was assured that follow up, including resolutions would occur within 24-48 hours of my initial inquisition. I have received no communication other than notices of my account being delinquent. It is extremely frustrating that a lender reverses payments with no regard for the borrower. I was not contacted with respect to this action. However, as a result of their reversal, I was contacted about my account being past due. Had I not received that communication I would have never realized what transpired. I immediately logged into my account and noticed the reversal. PLEASE HELP!!!

Company Response:

State: PA

Zip: 19130

Submitted Via: Web

Date Sent: 2023-03-24

Company Response to Consumer: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A


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Complaint ID: 6742451

Date Received: 2023-03-23

Issue: Incorrect information on your report

Subissue: Account information incorrect

Consumer Complaint: I NEVER OPENED AN ACCOUNT IN 2018 FOR A STUDENT LOAN. YET THE REPORT IS CLAIMING I DID. I WOULD LIKE THAT CLEARED.

Company Response:

State: TX

Zip: 76110

Submitted Via: Web

Date Sent: 2023-04-20

Company Response to Consumer: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A


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Complaint ID: 6739071

Date Received: 2023-03-23

Issue: Dealing with your lender or servicer

Subissue: Trouble with how payments are being handled

Consumer Complaint: My Great Lakes Federal Student Loan servicer has discharged a refund going to my old previous closed account to XXXX XXXX XXXX XXXX XXXX initiated on XX/XX/XXXX. Great Lakes has mentioned the funds was accepted but the account I had with XXXX has been closed since XXXX or XXXX. So far I have contacted 3 different XXXX bank numbers and one representative just informed me to open an another account but now the funds will be issued 1 to 2 business days back to My Great Lakes. I do not have any online banking, routing or account information to log in since the previous account been closed. And I have contacted Debt Management and the Offset Department at the bottom of GreatLakes letter and still haven't gotten through to a phone representative. MyGreatLakes did not verify with me my banking account information on file and I have made a payment in XXXX to GreatLakes from another account that I now currently have.

Company Response:

State: GA

Zip: 30213

Submitted Via: Web

Date Sent: 2023-03-23

Company Response to Consumer: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A


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Complaint ID: 6736744

Date Received: 2023-03-22

Issue: Dealing with your lender or servicer

Subissue: Received bad information about your loan

Consumer Complaint: Last Saturday, the XXXX of XXXX, I discovered that my loan 's balance had increased by nearly XXXX dollars. As an example : my statement for last XXXX identifies my remaining balance as, " {$9300.00}. '' My most recent statement ( as of yesterday ) now reads, " XXXX. '' On the following Monday ( the XXXX ) I called and spoke with ( XXXX XXXX, who explained to me that apparently someone with a similar name to my own had been having their payments applied to my own account over the last two years. Thus, they reversed a total of 17 payments. There are three dilemmas here : First, my wife and I have been making longer term financial plans around what they misrepresented as my status. I now have to amend/change my own plans for the future because of their repeated mistakes. Second, one of those plans had been to possibly borrow the money to make the final payment that would close the debt entirely. Had I merely made the payment a week ago, I would be expected to pay a considerably lower amount than I would have to today. Third, I no longer have any confidence in any of the numbers that my lender presents to me. They had one task to complete, and they failed at it miserably. This is exacerbated by the fact that they took two years to identify the misdirected payments in the first place.

Company Response:

State: WI

Zip: 53222

Submitted Via: Web

Date Sent: 2023-03-22

Company Response to Consumer: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A


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Select another page to read more about how -real people- receive -real harm- from these banks, credit bureaus, and others.