Date Received: 2017-07-14
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: My son graduated from college this past XXXX . Before he graduated, we called Nelnet ( his loan service provider ), and asked when interest on his loans would begin to accrue. Nelnet told us that interest was deferred for 6 months from his graduation date. Then shortly after he graduated, we again reached out to Nelnet, this time via a recorded chat and asked the same question - and were told the same answer. Mind you, we still have the recorded chat to refer to. Today, we received an email with a new statement attached, so we logged-in just to confirm all looked status quo. Much to our surprise, the distribution from his freshman year showed accrued interest. Upon calling Nelnet and speaking to an " Account Manager '' in addition to a front line phone person, we were told that his freshman year distribution was during the time period when Congress had repealed the " grace interest subsidy ' ' ( XX/XX/XXXX - XX/XX/XXXX ) so interest began accruing the day he graduated and would continue to accrue until paid in full. How is it that the two initial people we spoke to at Nelnet via phone and live chat, did n't seem to know this? We, of course would have paid off the freshman year distribution then back in XXXX , and not waited so interest was accruing. Additionally, Nelnet spoke to us on the phone like we had not done our research, nor were they willing to do anything for us. This is wrong in so many ways!!!
Company Response:
State: CA
Zip: 92056
Submitted Via: Web
Date Sent: 2017-07-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-07-13
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: In 2012 I filed paperwork with Nelnet to have my student loans consolidated so that I may qualify for the Public Service Loan Forgiveness. While all of my loans were transferred to Nelnet at that time, it recently came to my attention that Nelnet did not consolidate the FFEL Stafford Loans and Grad PLUS Loans that they held, leaving half of my loans ineligible for Public Service Loan Forgiveness. I trusted them to act in my best interests and consolidate the loans for the purpose I stated. They clearly did not do this. I am submitting a copy of the Federal Direct Loan Consolidation paperwork, where it shows that the loans they held were listed both on the Loans You Want to Consolidate page, then listed again on the Loans You Dont Want To Consolidate page, only on that page the loan number and balances are missing. This is very deceiving. Furthermore, they never sent me a letter finalizing the consolidation, but put me into an Income Based Repayment Plan with assurances that all was well. When I spoke to Nelnet recently and inquired about the consolidation and requested a copy of their paperwork ( so I could match it with the copy I possess from 2012 ), they stated they had no such record on file. This seems suspect as there currently are XXXX consolidated loans on my Nelnet account. They most definitely consolidated the loans from XXXX/XXXX XXXX and that is all they consolidated. This move has potentially cost me 5 years of payments counting towards Public Service Loan Forgiveness.
Company Response:
State: MN
Zip: 55347
Submitted Via: Web
Date Sent: 2017-07-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-07-13
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: On XXXX XXXX, 2017, I contacted Nelnet about a concern I had in regards to how my monthly payments were being distributed. My Nelnet account was saying I was not covering all of the accrued interest on some of my loans. I wanted to increase the amount, so I would not only cover my interest but begin paying towards the principle of the loan. For several months I noticed that even though I was paying more than was " due '', the principle was never going down. I would try to make adjustments to each part of the loan so that the interest was paid, but each time the monthly sum was distributed differently amongst the sub-loans so that the interest would still be accruing. I was talking to a representative in regards to increasing my monthly payment, and I was told the amount would only come out once. It came out twice and I ended up in the " red '' at my local bank due to the misinformation. I feel like I always have to check my loan through them because there are so many unhelpful people telling me a different thing. On XX/XX/XXXX, I contacted the loan server again in regards to what had happened, and after being online with a different person for about a half hour they told me I would have to contact a person via telephone number and they could not help me. I am completely frustrated with this company and feel like there is no one on the same page. I would like to get some guidance as far as what to do to pay off my loans and handle them correctly, but I feel I ca n't get those answers from Nelnet.
Company Response:
State: MN
Zip: 562XX
Submitted Via: Web
Date Sent: 2017-07-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-07-12
Issue: Struggling to repay your loan
Subissue: Can't get other flexible options for repaying your loan
Consumer Complaint: Nelnet is my servicer for my student loan for my XXXX studies. My account number is XXXX. I took 2 loans out to pay for my XXXX {$20000.00} and {$12000.00}. Due to financial hardship over the last few years, I have had to defer my student payments until my divorce is final and get back on my feet. Recently, I received a notice that I was late on my student loan??? I thought I had a deferment. I look at the website and my deferment was denied in XX/XX/XXXX. I never received this letter. I called NelNet and got an excellent representative XXXX. She explained what Nelnet had done to me since XX/XX/XXXX. Nelnet has been capitalizing the interest on my principle since XX/XX/XXXX. This now makes my {$33000.00} principle increase to {$37000.00} which I am now paying/accruing interest on. This was done without my knowledge. This was not explained to me. XXXX explained it did not have to be explained to me but now the Department of Education mandates that borrowers need to be told that deferments or forbearances will the capitalized interest and become part of the principle. Now, I am PAYING INTEREST ON TOP OF INTEREST. Who is making this extra money? I am in a hardship situation and the lender or servicer is gouging students with this usury type practice. On XX/XX/XXXX, I had an admin forbearance prior to deferment that capitalized interest. On XX/XX/XXXX, I had a grace period deferment that capitalized interest. On XX/XX/XXXX, I had an admin forbearance that capitalized interest. And now on XX/XX/XXXX, I will have a forbearance deferment that will again capitalize interest.
Company Response:
State: CA
Zip: 92626
Submitted Via: Web
Date Sent: 2017-07-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-07-12
Issue: Incorrect information on your report
Subissue: Information is missing that should be on the report
Consumer Complaint: I originally had student loans throught Department of Education, Nelnet ... in XX/XX/XXXX of 2013 I consolidated all of my federal loans through XXXX. However on my credit report it is showing up as more than 120 days late but has a balance of {$0.00} and states that 100 % of the loan has been paid.
Company Response:
State: IA
Zip: 50023
Submitted Via: Web
Date Sent: 2017-07-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-07-12
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: I 'm an XXXX Graduate from XXXX XXXX XXXX, and financed my education through a loan offered by XXXX. The loan repayment began on XXXX XXXX and I 've been paying timely on a monthly basis. Since XX/XX/XXXX, XXXX let me know that it was possible for international graduates to pay through XXXX using foreign credit cards. I used that alternative, with my XXXX XXXX, since it was available until XX/XX/XXXX, when XXXX decided to transfer our loans to XXXX XXXX. XXXX XXXX did n't have the XXXX alternative, but they would receive my XXXX XXXX number over the phone and process my payment since XX/XX/XXXX until XX/XX/XXXX. Recently, when I tried to pay my loan due on the XX/XX/XXXX, the representative told me that " credit card companies would not allow paying debt with credit cards any more, so they could n't process my payment over the phone, but I could use XXXX to pay with my foreign credit card ''. I logged into XXXX and they are basically charging a fee in order to process my payment ( that fee accounts to almost a 5 % of the amount due ). Unilaterally XXXX XXXX eliminated an affordable option for international students to be able to pay for their student loans, sending us a to another agent who will charge us roughly 5 %. My loan rate is about 5 % yearly and by forcing me to pay through XXXX, XXXX XXXX is practically doubling the interest rate on my loan. First of all, I would like to know if it is true that credit cards companies wont allow debt payments to be cancelled with a credit card as I think something like that would have been widely commented and I couldnt find a single article. Second, I would like to know if it is legal for Firstmark Services to unilaterally select a payment method that represents an indirect +2x increase of my interest rate. And third, what are my rights as a consumer residing outside of the US.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2017-07-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-07-10
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: Company = Nelnet. XXXX My husband is XXXX XXXX military. We married while I was attending the school for which these loans were obtained. The loans are at a 6.75 % interest rate. I would like to have the loans reduced to 6.0 % per the Servicemembers Civil Relief Act. We contacted Nelnet on XXXX at XXXX , they informed us that spouses are not eligible. However, on the SCRA we bsite it notes that all dependents are eligible. Thank you for your help.
Company Response:
State: CA
Zip: 92591
Submitted Via: Web
Date Sent: 2017-07-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-07-10
Issue: Incorrect information on your report
Subissue: Personal information incorrect
Consumer Complaint: I have had this account XXXX on my credit report for years and I 've always second guessed it because I did n't recall signing up for a student loan being that I was offered a full ride on an academic scholarship. I never received any information about a payment being due for this account until I pulled my credit report and discovered that my credit score was being affected by multiple late payments for this account. Now I finally know the reason why, this student loan does not belong to me! I recently logged on the the Nelnet website to go ahead and bring this account current. This student loan is for XXXX which is a campus that I have not attended and not only that a home address in XXXX XXXX, TX which I have never resided. I am outraged that this information has been added to my credit profile without proper verification of identity. I want this account removed immediately being that this account does not belong to me. I am using consumer finance seeking help to have this inaccurate information removed.
Company Response:
State: TX
Zip: 75134
Submitted Via: Web
Date Sent: 2017-07-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-07-10
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: My loan was transferred from XXXX XXXX XXXX XXXX to Nelnet. Nelnet says this happened in XX/XX/XXXX, SC student loans says the last info sent was in XX/XX/XXXX. I paid off the entire balance to Nelnet in the amount of XXXX on XX/XX/XXXX, & because I paid the loan after XXXX on XX/XX/XXXX, I also had to make payment for the next days interest which was less than XXXX cent. ( I will have to pull bank statement to determine exact amount of interest paid with the second transaction ). Almost 3 months after the payoff, Nelnet sent me a statement on this account stating I still owed {$60.00}. I called immediately since this was already paid off. Nelnet told me at that time that it was the last payment still owed, as they did n't take last payment with the transaction. I was sent to a supervisor who told me the same. I argued that because I was sent a statement that it was paid in full. I was getting so frustrated that we had to end the conversation before it got nasty. I called back a few weeks later hoping to get somewhere with them before the due date of the payment they claim I still owe. At that time, I was told that XXXX XXXX XXXX XXXX ( XXXX ) had sent a statement of fees still owed on the loan to them & that it was NOT the last payment withheld from payoff as I was told before. I asked for information to contact XXXX about this because I was n't aware of any fees. I called XXXX who says they have n't sent anything to Nelnet since XX/XX/XXXX. Something sounds very suspicious and I want to know where this balance came from because I feel this is bogus charges & they ca n't seem to get their story straight about where the balance came from. If I owe, and they can prove the charges legitimate, I will pay. However, I do not have money to just give away for some bogus charges they came up with and ca n't explain how they got there. They have had me going around in circles from Nelnet to XXXX and I 'm not getting a straight answer from Nelnet. **I ca n't put my hands on the paid in full receipt because we have alot of stuff boxed up to move, but the attached file is a statement sent in XX/XX/XXXX that I owe {$60.00} & states the amount I paid off and the date it was paid off. I have bank statements and I hope Nelnet will still have a copy of the phone conversation on XX/XX/XXXX when I spoke to a representative to give my checking account information to pay off the loan. When I unpack at our new home, I will gladly send in the paid in full receipt.
Company Response:
State: SC
Zip: 294XX
Submitted Via: Web
Date Sent: 2017-07-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-07-08
Issue: Dealing with your lender or servicer
Subissue: Problem with customer service
Consumer Complaint: I requested an Income Base d Repayment Plan to begin paying back this loan. I submitted the Income Based Repayment Plan application back to Nelnet along with my 2016 Tax return to confirm my annual salary which is only about {$ XXXX } a year. Nelnet keeps sending me Emails demanding that I pay them {$1900.00} a month that I ca n't afford.
Company Response:
State: NY
Zip: 11216
Submitted Via: Web
Date Sent: 2017-07-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A