Date Received: 2017-02-05
Issue: Dealing with my lender or servicer
Subissue: Need information about my balance/terms
Consumer Complaint: I accumulated student loans from XXXX XXXX XXXX XXXX after signing up to attend school there. I believe my loan amount was much more than I agreed to. This school has since loss there accreditation and has allegedly been accused of stealing money through financial aid. I have reason to believe that I am a victim and can not get compliance to validate my assumption from the School or lender.
Company Response:
State: SC
Zip: 29625
Submitted Via: Web
Date Sent: 2017-02-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-02-02
Issue: Dealing with my lender or servicer
Subissue: Don't agree with fees charged
Consumer Complaint: I have been enrolled in the IBR program since finishing graduate school XX/XX/2012. I have followed protocol flawlessly during that time. This year, however, due to an exceptionally busy schedule of work, travel, and moving, I missed the re-enrollment deadline by under a week. My servicer NelNet acted quickly, informing me that the interest accrued during the last year ( over {$25000.00} ) would be applied to my principal balance. Now, I fully admit to missing the deadline but what I find incredulous is that there is no way to appeal this decision or negotiate what essentially works out to be a penalty as is commonly done in business and loans. It 's laughable. The best the customer service agent could do was offer me a phone call from a supervisor sometime in the next couple days, and could n't even confirm the number I should expect to receive a call from nor that the supervisor would leave a voicemail in the case I was unavailable to answer. I understand that the impetus is on the consumer to keep abreast of policy and plan details, but the fact that there is absolutely no avenue to appeal or flexibility in any matter is borderline predatory. Also, as the agent confirmed, I can only receive electronic OR mail correspondence. Not both. That alone is baffling. It is also severely decreasing the likelihood that this loan will ever be paid in full.
Company Response:
State: VA
Zip: 201XX
Submitted Via: Web
Date Sent: 2017-02-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-02-01
Issue: Dealing with my lender or servicer
Subissue: Received bad information about my loan
Consumer Complaint: I was never given the option to make payments based on my income. All that they did was offer me a forbearance which caused my interest to keep increasing and I was never told about any other option that I may have qualified for to pay back on my loans.
Company Response:
State: AZ
Zip: XXXXX
Submitted Via: Web
Date Sent: 2017-04-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-01-31
Issue: Dealing with my lender or servicer
Subissue: Trouble with how payments are handled
Consumer Complaint: I was not properly notified when I was required to renew my income based repayment information and {$1700.00} was withdrawn from my bank account, when I normally pay {$130.00}. After speaking with Nelnet they told me they were unable to refund any portion of my payment.
Company Response:
State: NY
Zip: 142XX
Submitted Via: Web
Date Sent: 2017-01-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-01-31
Issue: Dealing with my lender or servicer
Subissue: Having problems with customer service
Consumer Complaint: My private student loan had originally been serviced through XXXX since beginning repayment in XXXX. When I tried making my XXXX XXXX payment it showed I owed {$0.00}. I contacted XXXX and they stated my loan was transferred to a new lender and that I would be receiving letters in the mail with details. The only letter I received was on XXXX/XXXX/XXXX from FirstMark Services ( my new servicer ) stating that I was behind on payments from missing the XXXX XXXX payment. I emailed FirstMark Services on XXXX/XXXX/XXXX to get more information regarding the situation. I did n't even know who my new servicer was to make a payment. XXXX replied on XXXX/XXXX/XXXX apologizing and that they would look into a forbearance option to catch me up on payments and get back to me. They finally called me on XXXX/XXXX/XXXX. In between those dates, my co-signer and I continued to receive harassing phone calls. As I spoke to the gentleman he informed me that they were ready to begin applying for a forbearance but I would have to verbally apply first. I thought this whole time they were already processing the forbearance due to their mistake. I completed the verbal application and the man informed me that there is a good chance that I would be approved. However, I had to first fill out the application and send it into FirstMark. I tried re-explaining my entire situation because I do n't think they fully understood. But all FirstMark kept stating was that it did n't matter if I never received information I was still responsible to repay my loan because I signed the Promissory Note. I completely understand this but I did n't know who to send my payment to. The representative stated next that it would take some time for them to gather the forms and mail them to me. And if they did n't process it by the XXXX of XXXX that it would be reported on my credit. I asked if there was any options to expedite me receiving the application to avoid this, maybe if I could get the form myself online or if he could email me the forms. He stated that he would email the forms to me and I would be able to receive it within 2 days using this option. This helped ease my mind a bit. Unfortunately, as I am writing this today it is XXXX XXXX and I have not received any emails or letters with the forms I need. This means this entire error they have made will now penalize my credit. FirstMark Services just seems to be playing games and not willing to assist in anyway. I made payments for 8 straight years with XXXX never missing XXXX from XXXX to XXXX XXXX. Now, under FirstMark things have fallen apart.
Company Response:
State: CA
Zip: 92126
Submitted Via: Web
Date Sent: 2017-02-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-01-30
Issue: Dealing with my lender or servicer
Subissue: Received bad information about my loan
Consumer Complaint: Please accept this assistance request for relief from my student loan interest being capitalized into the principal amount. I have tried to work out the issue with my loan servicer, Nelnet, who informed me there is nothing they can do to remedy the situation. My original loan principal was {$100000.00} when I graduated XXXX in XXXX. My loans have accrued $ XXXX in interest while in school and the past three years while on Income Based Repayment. I am fully aware of the consequences of interest being capitalized in the principal as the loan continues to build and build with payments going up and up. I 've remained on IBR to avoid that situation and I have never missed a student loan payment. I know that I need to resubmit IBR re certification every year by the end of the year as I have done so for the past 3 years. I was informed over the phone by a Nelnet representative that the absolute latest date that I could submit re certification was XXXX XXXX. Nelnet representatives continually provided me with misinformation, incorrect dates and incorrect payment amounts. I worked vigorously to communicate with Nelnet, Studentloans.gov, and the IRS to get my re certification complete - there were issues with the online portal income certification, among other things. On Friday, XXXX XXXX, I believed all the necessary forms had been submitted via the online portal. On XXXX XXXX, I mailed the re certification and emailed the re certification as well to make sure it was 100 % complete. On Monday XXXX XXXX, I received nothing from Nelnet and believed it was taken care of. On Tuesday XXXX XXXX, I received an email from Nelnet stating my interest had been capitalized into the principal and my new loan balance was {$130000.00} with a monthly payment of $ XXXX/month up from the $ XXXX/month it was this year. I immediately called Nelnet and was told that the system automatically capitalizes the interest if the re certification is n't processed on time and that there is nothing they can do to help me. I spoke to two managers and then the head account manager and all said that they ca n't un capitalize my interest because I had missed the deadline. I stated I never received notice of a hard deadline and was told over the phone that the deadline was XXXX XXXX. They stated that I received notice through my online portal and that the deadline was actually in XXXX. I asked if they called or sent a letter to make sure I got notice and was aware of the deadline, they said they are not required to do so because they notified me through my online portal. I continued to ask if they could process my re certification and un capitalize my interest. They said no and that the " system '' does it automatically and they are just following the regulations of the Department of Education. I started asking for help to remedy this situation on XXXX/XXXX/XXXX after my student loan interest was capitalized. It is now XXXX/XXXX/XXXX and all that has happened is many phone calls and much aggravation with Nelnet and XXXX. As a result of this my student loans have been capitalized, Nelnet put me on Standard Repayment for maybe a day ( or less ) so my loan payment in XXXX was {$1400.00} +, and then they switched me back to income based repayment for XXXX for a payment of $ XXXX. It is unfair, un just, and wrong what is being done by the Dept. of Eduation and Nelnet, by capitalizing students interest into their principal, especially when the student gets their re certification information in on time. I beg this office to help assist me in my case to un capitalize my student loan interest from the principal. I am a hard working young professional. I have never missed a student loan payment, have a great credit score, and do everything I can to better my family and my community.
Company Response:
State: ME
Zip: XXXXX
Submitted Via: Web
Date Sent: 2017-01-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2017-01-31
Issue: Dealing with my lender or servicer
Subissue: Trouble with how payments are handled
Consumer Complaint: I have repeatedly requested that all over payments get applied directly to principle, but my loan servicer, Nelnet, continually advances the due date. Then they tell me I do n't know how payments work. I then have to educate a willfully ignorant rep on how compound interest works, and advancing my due date is not in my best interest.
Company Response:
State: IL
Zip: 60506
Submitted Via: Web
Date Sent: 2017-01-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-01-30
Issue: Dealing with my lender or servicer
Subissue: Don't agree with fees charged
Consumer Complaint: Sometime during the month of XXXX, I called Nelnet to switch my automatic student loan payment from one checking account to another. I went ahead and made my XX/XX/XXXX payment from my old checking account and was told by Nelnet that my next payment will automatically debit out of my new checking account in XXXX. During the month of XXXX I checked my new checking account regularly to see if the student loan payment had been automatically debit from my account. It had not. I eventually checked my old checking account and revealed that Nelnet had continued to bill my old checking account which charged me over {$90.00} in late fees due to insufficient funds. I contacted Nelnet and they reviewed the XX/XX/XXXX phone call and confirmed my payments should have been switched to my new checking account but in order for them to return my money I had to send them bank statements showing the amount that came out of my bank account. I have sent Nelnet XXXX seperate copies of my bank statements over the last 3 weeks and they somehow still do not have copies in order to pay me my money back. I have had my bank send copies and I have also personally sent copies from a secure server at the XXXX I work at. There is absolutely no way they have not received the copies. I called yesterday to receive a copy of the phone call I had in XX/XX/XXXX with a customer service representative but was told I would have to get that information subpoena to court that they would not release the information. I understand if I am out {$90.00} so be it, but it is the principle that these big time student loan companies can do as they please and get away with it and no one can stand in their way.
Company Response:
State: KY
Zip: 40342
Submitted Via: Web
Date Sent: 2017-01-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-01-29
Issue: Dealing with my lender or servicer
Subissue: Trouble with how payments are handled
Consumer Complaint: I have a loan with XXXX and I believe the Consumer Financial Protection Bureau needs to also look at Nelnet. I have XXXX and my loan was discharged under XXXX Guidelines also known as XXXX. I had spent many years trying to get the loans discharged with Nelnet. Nelnet could never seem to find the paperwork that I submitted to have the loans discharged. I repeatedly called, faxed, and mailed information to Nelnet. My loans were wrote off and charged back because of my income. I will continue to fight on these loans and have come to accept the fact that Nelnet is a big company and they will probably get there way. A letter wrote by XXXX XXXX of Nelnet to the Attorney General of XXXX on XX/XX/XXXX stated that Nelnet had told me that the calls I made on on XX/XX/XXXX, XX/XX/XXXX and XX/XX/XXXX that they did not have an Ombudsman. That part was true than XXXX XXXX Of Nelnet continued to say in her letter to the Attorney General and to me that Nelnet recommended me to contact the Ombudsman group with the Department of Education that was a lie. " Half a Truth is often a great Lie '', XXXX XXXX. How many of these half truths does Nelnet tell the people it services. I asked for transcripts shortly after each of these calls I had made and I have received nothing. I do n't really care what Nelnet does to me and my credit rating. I want people to know that Nelnet is being deceptive at great lengths. How can Nelnet Have a good code of conduct if they are lying about the little issues. " Nelnet 's Code of Conduct applies to and serves as the guide for all of our associates as we strive to do business with the highest degree of honesty and integrity. ", this is off of Nelnets Code of Conduct website. XXXX XXXX CEO. They are just as bad as XXXX is.
Company Response:
State: SD
Zip: 57701
Submitted Via: Web
Date Sent: 2017-01-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2017-01-30
Issue: Dealing with my lender or servicer
Subissue: Received bad information about my loan
Consumer Complaint: Although I asked my student loan servicer to place me in the Income-Driven student loan repayment plan with the lowest payment, it placed me in a plan with a payment that was about {$500.00} higher than a payment I was eligible for. The details are below. In XX/XX/2016, I submitted an " Income-Driven Repayment Plan Request '' ( Federal OMB form no. 1845-0102 ) to have my servicer, Nelnet, calculate my payment under the above quoted form of student loan repayment. I asked, in Section 2, item 2, that " I want my loan holder to place me on the plan with the lowest monthly payment. '' As shown in numerous cites, e.g. the one below, at this time a new repayment program with the acronym REPAYE had come out that ( a ) was a plan for which I was eligible because my student loans are " direct '' loans as shown on my balance sheet from studentloans.gov and ( b ) caps the payment at 10 % of discretionary income. Instead of putting me in that plan, they placed me in the IBR plan, which caps payments at 15 % of discretionary income. This cost me {$500.00} a month extra over the past 8 months or so. XXXX
Company Response:
State: CA
Zip: 90069
Submitted Via: Web
Date Sent: 2017-01-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No