Date Received: 2017-01-20
Issue: Dealing with my lender or servicer
Subissue: Received bad information about my loan
Consumer Complaint: My loan provider, Nelnet, made a mistake in calculating my monthly payment amount last year ( XX/XX/XXXX ). They thought I was paid bi-weekly, despite specifically stating on my paperwork that I was paid WEEKLY, which was also evident on my pay stub. Therefore, my payment amount was much lower compared to this upcoming year ( XX/XX/XXXX ). My new amount is XXXX % MORE than what I paid last year, which is much more than I can afford, and is significantly more than the yearly increase as stated on my IBR plan. I spoke with several advisors trying to figure out where the mistake was and why I could n't get a lower payment amount. They suggested forbearance as the only option, which I did not opt for due to the quickly accruing interest. I 'm extremely frustrated and feel like this is a huge mistake that I am paying for, literally.
Company Response:
State: MA
Zip: 01609
Submitted Via: Web
Date Sent: 2017-01-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-01-19
Issue: Can't repay my loan
Subissue: Can't decrease my monthly payments
Consumer Complaint: I have asked that my increased payment be applied to principle and was told my request must be in writing. So I put m request in writing. Nel net continues to apply to next payment instead of principle. I owe close to {$70000.00} I have XXXX children and pay ove 6 % interest. I have 20 more years and I am XXXX years old.
Company Response:
State: CA
Zip: 91320
Submitted Via: Web
Date Sent: 2017-02-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-01-19
Issue: Dealing with my lender or servicer
Subissue: Don't agree with fees charged
Consumer Complaint: Nelnet reported my student loans as delinquent, when in reality, my university ( University XXXX ) failed to report my enrollment correctly, resulting in over XXXX negative marks on my credit score. Nelnet claims that my Enrollment Certificate is not enough to prove my enrollment for debt purposes, and though the fine print of the document says 'This document should not be used for loan deferment verification purposes ', I believe this is not an issue of deferment, rather it is proof that my loans should never have been due in the first place.
Company Response:
State: TX
Zip: 752XX
Submitted Via: Web
Date Sent: 2017-01-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2017-01-19
Issue: Dealing with my lender or servicer
Subissue: Received bad information about my loan
Consumer Complaint: I have repeated asked NelNet to provide ALL information regarding my loan via mail from its inception in 2004 through today. I want to know all payments made, fees charged, interest charged, etc in chronological order.
Company Response:
State: FL
Zip: 32128
Submitted Via: Web
Date Sent: 2017-01-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2017-01-19
Issue: Dealing with my lender or servicer
Subissue: Trouble with how payments are handled
Consumer Complaint: On XXXX XXXX, 2017, I attempted to post an online payment at Nelnet 's website. Upon clicking the submit button, the site told me to wait ten minutes to submit my payment. This was different the the usual " working '' icon with the accompanying message warning not to hit the " Back '' button. I exited the program. There was no confirmation that any payment was posted. After 11 minutes submitted my payment again. This time the payment completed normally without error. On XXXX XXXX I discovered that XXXX payments were authorized. I contacted Nelnet and was told that it would take 6-8 weeks for a refund of one of the payments. This placed a hardship on my finances, as I was left with sufficient funds to make a full payment on a credit card, and thus had to incur interest charges. I believe the website may be confusing borrowers into authorizing more payments than they had intended and paying fees for insufficient funds. Nelnet should be investigated for their business practices.
Company Response:
State: TX
Zip: 778XX
Submitted Via: Web
Date Sent: 2017-01-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-01-19
Issue: Dealing with my lender or servicer
Subissue: Received bad information about my loan
Consumer Complaint: I took out a student loan in XXXX to pay for XXXX XXXX XXXX of XXXX. I was told by the school that I did n't qualify for any grants or other programs despite being on my own at the age of XXXX. The school told me my income could n't be right and increased it, so I would qualify for the loan. THat 's another story. At the school I met my future husband and after graduating we married. I began repaying my loan on the first day, his came due later. We tried making payments, but it was impossible. A person at Nelnet advised me to consolidate and sold me on the benefits of consolidating our loans together. I completed paperwork and submitted. Prior to completion an employee contacted me and did caution about the consolidation, but I was already sold on the idea by a previous representative. At that time, I believed I would not get divorced so this was the best option. In XXXX I divorced my first husband, he was not willing to work and we were falling behind prior to the divorce and had put the loans on deferment. He did not make a single attempt to pay any of the debt, despite a court order to do so. I repeatedly complained that he would n't pay. I was forced to file bankruptcy. I contacted Nelnet weekly ( not an exaggeration ) to ask for some kind of relief, interest rate reduction, refinancing, anything. The only relief they would offer was deferment. I took the offer a couple of times. When I would call I would explain that I had a XXXX, I was a single mom and struggling to make the payments and did n't want to keep seeing my principle increase. This was XXXX school. My interest rates were about 13 % if I recall. The only option they would ever give me was to defer the loan. At one point I did n't get the deferment papers in on time and I thought maybe they would give me another option. They began calling my employer and asking questions like " How much did I make? ", " When was my payday? ", " How many years had I worked there? '' all in violation. They were also calling me at work and I told them, I would contact them. I thought this different route might give different results. It did n't. I did another deferment and the principal continued to escalate. It seemed pointless to even send in any payment less than the {$300.00} they requested every month, but I did n't want the debt to continue to increase so much. I met my current husband and he is very responsible. He took on the debt which at this point considering my attempts to make payments on my loan for years, would technically belong to my ex. He started making the payments and keeping me current. I made calls every now and then just trying to refinance or lower the interest rate, to no avail. I was also annoyed that they would n't change the name on my account. One day in XXXX (? ), I made a call to Nelnet again and asked to get the name changed ... .my ex should receive no credit for my current husband making payments. I also thought I could ask ONE more time about refinancing. THIS time the representative said I could always refinance with the Department of Education. I could probably get a rate of 8 %. I was floored. Years of phone calls and no help! I did n't know whether to be happy or angry. I thanked this woman for finally giving me this answer. I asked how long this option had been available. She told me it ALWAYS was. If this had been the case my loan would have been paid off YEARS ago, I am convinced. As it is I think my {$12000.00} loan for XXXX school will be paid off in 2 years.
Company Response:
State: NE
Zip: 68130
Submitted Via: Web
Date Sent: 2017-02-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-01-19
Issue: Can't repay my loan
Subissue: Can't get flexible payment options
Consumer Complaint: High payments each month ca n't repay my loan
Company Response:
State: TX
Zip: 773XX
Submitted Via: Web
Date Sent: 2017-01-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-01-19
Issue: Dealing with my lender or servicer
Subissue: Need information about my balance/terms
Consumer Complaint: My Loan was originally with XXXX XXXX and in deferment, XXXX XXXX stated I defaulted on the loan and sold it out. Now the loan is in Nelnets hands and I have seen the principal go up and up after paying every month going at this rate I will be died and still paying the loan. The education I received for this loan was not even worth it. Wish I could go back 13 years and change this.
Company Response:
State: NJ
Zip: XXXXX
Submitted Via: Web
Date Sent: 2017-01-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-01-20
Issue: Can't repay my loan
Subissue: Can't get flexible payment options
Consumer Complaint: My Interest is very high for this loan. It just seems that I was misled and not properly educated on the interest rates of this loan.
Company Response:
State: KS
Zip: 67226
Submitted Via: Web
Date Sent: 2017-01-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-01-19
Issue: Dealing with my lender or servicer
Subissue: Received bad information about my loan
Consumer Complaint: For over a year, I have been fighting with Nelnet to correct information on my file that is incorrect. I have been on the Income-Based Repayment Plan since XXXX and have re-filed every year. I was told in XXXX that they did not have me on and that information was mistakenly provided to me which had led me to believe that I was on the IBR plan. I was informed that for the past 7 years they used up deferment and forbearance instead!!! Last year when I submitted information to recalculate my payments ( this is when I learned that I was not on IBR ), Nelnet had my paperwork sitting there for months without touching it. It was n't until I checked my credit report that they incorrectly reported more than XXXX accounts at least 90 days past due!!! My credit went down nearly XXXX points! I have gone back and forth with them to no avail. When I told them to correct the IBR information for the past 7 years, they basically told me they were sorry but there is nothing they could do. I can not get approved to live an in apartment now and I have been having a hard time finding a job that allows me to pay more than my minimum payment to pay my student loans. I can not finance another vehicle and my credit card was recently cancelled due to this.I went to graduate school and I have a large amount of loans I took out to pay for my education. Nelnet has been avoiding correcting the information. I believe that the cost of my loans is exceedingly high and do not reflect the correct amount I borrowed including the correct amount of interest. They are difficult to deal with and their representatives on the phone are powerless. Please do something about this. I know many people who are struggling with the same issue being cheated by Nelnet. I believe much of the confusion on Nelnet 's part comes from lack of understanding from the representatives on how repayment of student loans impacts the borrower. Every single person I spoke with had a different answer and I attempted to have them give me the correct paperwork for recalculations 6 different times in XXXX. I am sincere in repaying my student loans but find that their business practices are misleading and damage the borrower 's ability to pay by increasing fees, keeping incorrect information and reporting it to the credit bureau. I have never before had my loans in a late status. I want them to be fair and give me the opportunity to repay but have the correct information and also fix all the accounts they placed in late status reported to the credit bureau. Every time I speak with them about fixing it, their response is " its not what you have sent. Its when we receive it '' despite them having the paperwork and having it sit there with no action being taken. My financial situation and future has been heavily impacted by this. My credit tanked to the point I cant find a better paying job now and properties are refusing to offer a lease without a heavy deposit that I can not afford.
Company Response:
State: TX
Zip: 765XX
Submitted Via: Web
Date Sent: 2017-01-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No