Date Received: 2023-11-21
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: I consolidated all of my federal loans prior to XXXX. My consolidated loan was transferred to a new loan servicer and is being divided into subsidized and unsubsidized loan categories, each loan category accrues interest separately. I have never requested or agreed to any changes. My attempt to reconcile this matter was unsuccessful, the representative stated this practice of dividing my consolidated loan is justified.
Company Response:
State: NC
Zip: 275XX
Submitted Via: Web
Date Sent: 2023-11-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-21
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: Called Nelnet the following dates : XXXX XXXX XXXX XXXX Wait time to speak to a provider is over 3 -4 hours. On XX/XX/XXXX, remained on the phone for over 6 hours, Nelnet sends periodic emails saying " we will update you in 10 days '' but nothing is provided in an email saying what is being updated, what is the progress, and if anything is wrong with the application. For example, there was an issue with my application, I was not informed of this and instead after speaking with two different call center employees, including a manager, was I able to learn that one my my loans was categorized incorrectly. This information should have been communicated to me promptly, not sitting in a cue for 5 weeks. It appears that there is no incentive to help students understand their loan SAVE applications, and instead are incentives to keep the applications pending so the company can make more money off of people who have no income. Since I am kept so in the dark about the process, I have no idea if my application needs to be fixed or needs more information. Instead, Nelnet should be actively updating us on what they need, not waiting until we reach out to them 5 -8 weeks later.
Company Response:
State: NY
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-11-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-21
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: I made several lump sum payments on this account to prepay in addition to monthly payment amount. Because of this, my due date kept getting pushed out. Now it says XX/XX/XXXX. Nelnet owes me over XXXX according to their own accounting department. On or about XX/XX/XXXX, I called about how my interest would be calculated with the Covid freeze. I was informed that i did not qualify because I had federally backed private loans. Instead, after speaking with a manager and someone in accounting, it was explained that I ( along with others he has seen, but my case was one of the worse ) had this weird due date accelerated issue and that I was owed this back money. I was told to pay the balance owed in full. I paid XXXX. The person then called me the next day to say that I had to pay an additional XXXX, which I paid on XX/XX/XXXX. I was then told that since my account was closed out, that accounting would recalculate everything because of the accelerated due date. I still have not received my funds or an explanation. I want the recordings of the call and notes and for someone to sit down with me about where my money is. I advised that the lump sum I paid was from the last money my dad gave me before he died on XX/XX/XXXX and now I am quite upset if this was all some sort of game. My dad and I could never figure out why no matter the lump sums, these loans did not get paid off faster. I believe there is an issue with all of them.
Company Response:
State: PA
Zip: 19119
Submitted Via: Web
Date Sent: 2023-11-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-21
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: Hello, I have recently tried to pay off my student loans in full. I paid {$22000.00} on XX/XX/XXXX at XXXX to the entire account. I had used the repayment calculator to account for interest 2 days in advance because Nelnet stated it would take 2 business days to process. Today, XX/XX/XXXX I saw the money I used taken out of my bank savings account but it is still processing on Nelnet. I just want to make sure that the money has been applied to my loans, paying off everything, and that I will not be held responsible for the interest that as accured due to the extended processing time. It is not a small amount of money, and I want to make sure that the loan is properly paid off. Thank you.
Company Response:
State: VA
Zip: 22193
Submitted Via: Web
Date Sent: 2023-11-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-21
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: greatlakes loan transfer in the amount of over {$88000.00}. Payments were made during covid. a 1098e int statement was received and filed with taxes for 2022 amount over {$6000.00}. Nelnets response was there was no interest charged, I provided proof and requested a itemization of the loans transferred. All capitalized interest is back on the loans. There is a problem with the loan transfer. Attached is 4 years of payment history. Something went wrong in the loan transfer.
Company Response:
State: NJ
Zip: 08332
Submitted Via: Web
Date Sent: 2023-11-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-21
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: Nelnet has XXXX quality control over its auto-payment infrastructure and undoubtedly has already caused hundreds if not thousands of borrowers significant financial hardship. My loans were transferred to Nelnet without my consent ( another issue for another time ), and Nelnet has been incompetent in maintaining my auto-debits. The first issue is that the auto-debits amount changes every month. This means that, in order for my desired debit to occur, I have to go into their outdated and under maintained website to adjust my debit amountdefeating the purpose of an auto-debit. Significantly more troubling, however, is the inability to maintain a consistent auto-debit date. To begin, the only way to adjust the debit date is to call the company. The last time I called Nelnet for this purpose I was on hold for over XXXX and a half hours. I have also tried contacting them via e-mail to adjust the date but have never once received a response. I was able to adjust my auto-debit to the correct date over the phone and it was properly taken out for exactly XXXX month. However, immediately after this payment, the auto-debit date reverted back to the original debit date, which was later in the month resulting in XXXX debits occurring in the same month. Mind you, I pay over twice my minimum payment each month, so it is not an issue of me underpaying. While I am fortunate to be able to afford to pay for their utter incompetence, lack of basic customer service skills, and in likelihood fraud ; many families around the country are not. It is my genuine belief that Nelnet is a fraudulent company, and I believe that further investigation into their predatory practices will uncover more sinister schemes.
Company Response:
State: CA
Zip: 94611
Submitted Via: Web
Date Sent: 2023-11-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-21
Issue: Dealing with your lender or servicer
Subissue: Don't agree with the fees charged
Consumer Complaint: Interest Accuring while SAVE plan application is processing. I originally applied for SAVE income driven repayment program when it was first released to the public in early XXXX. It is still processing and my loans have been placed in Administrative Forbearance. My loan servicer is Nelnet and I have called multiple times to express my concerns. Since repayment is started, my loans have accured over {$500.00} in interest fees. I was told that the interest would not be waived. My question is why should the borrower be penalized with increasing interest charges because of these extended processing times. Is there a way to have the interest forgiven since the this delay is due to the poor planning of the loan servicers and the US XXXX XXXX XXXX?
Company Response:
State: OH
Zip: 44691
Submitted Via: Web
Date Sent: 2023-11-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-21
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: I have filed no less than XXXX complaints against Nelnet with CFPB. Stop closing them as Nelnet has not resolved anything! They have my name wrong and did from the get go, despite Great Lakes having my correct name when they sent it to Nelnet. I had Great Lakes for years. They have had my XXXX application since XX/XX/2023 and STILL have not porcessed it. They keep responding to the CFPB which wrong and false information. CFPB keeps closing my complaint with nothing corrected. Nelnet keeps asking me for the same documents I already uploaded over and over on their website. Their gross incompetence is something XXXX should fine them for like XXXX! Why does XXXX not fine Nelnet? I applied for XXXX XXXX program as a government worker. They keep telling me to apply when I already have. They refuse to use the legally mandated XXXX despite my having connected my IRS account to Nelnet. CFPB has never done this before where they hit closed on a case that isn't resolved! If this is happening to you as a fellow loan holder, report Nelnet to XXXX and CFPB until they get the fine XXXX has for gross incompetence. It is unfair for me and others like me holding student loans to keep dealing with this mess! They send me letters full of false statements. Hold them accountable. I will continue to file complaints until CFPB stops closing them! This isn't resolved at all and Nelnet needs to be held responsible for what they did and are still doing to me..
Company Response:
State: MI
Zip: 480XX
Submitted Via: Web
Date Sent: 2023-11-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-22
Issue: Struggling to repay your loan
Subissue: Problem with your payment plan
Consumer Complaint: After receiving a bill for XXXX when I am on the savers plan, now the bill is XXXX. The savers plan is supposed to make my bill XXXX and accrue NO interest.
Company Response:
State: PA
Zip: 19143
Submitted Via: Web
Date Sent: 2023-11-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-21
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: I applied for the SAVE repayment plan with my loan servicer Nelnet over two months ago. My application is still pending and my balance continues to grow due to interest. The benefit of the SAVE plan is to prevent interest to continue ballooning as long as you make minimum payments, but while the application is still pending, the interest continues to grow.
Company Response:
State: OR
Zip: 97219
Submitted Via: Web
Date Sent: 2023-11-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A