Date Received: 2016-11-08
Issue: Dealing with my lender or servicer
Subissue: Trouble with how payments are handled
Consumer Complaint: I started the IBR on XXXX/XXXX/XXXX with Nelnet , Inc. " Under the IBR and Pay As You Earn plans, your calculated monthly payment amount may not cover all of the interest that accrues on your loans each month ( this is called negative amortization ). In this situation, the government will pay the remaining unpaid accrued interest that is due each month on your subsidized loans ( including the subsidized portion of a consolidation loan ) for up to three consecutive years from the date you begin repaying your loans under the IBR or Pay As You Earn plan. '' This has not been happening on my account. My subsidized interest on my loans have been accumulating. No government payments have been applied to my account. My Principal Balance reflects no additional government payments have been applied to my subsidized loans online. I collaborated with -- 1. XXXX XXXX XX/XX/XXXX XXXX -- Discussed loan options and confirmed Nelnet received my recertification for IRB. User put me on hold and never returned. Gave her a negative review ... 2. XXXX XX/XX/XXXX XXXX Verified Nelnet received my re-certification and told me it will take a week or two in order to process. Discussed the 3 year subsidized interest not being paid on my account. XXXX confirmed the amount suppose to be paid quarterly by the government but Nelnet does not give proof of payments added to accounts. I told him I need to see where the government payments were added to my subsidized interest. The web site does not reflect any government payments applies to my account. XXXX confirmed the payments have been applied quarterly but the web does not reflect this. My account needs to be analyzed and adjusted immediately. It appears the Government has been sending payments to pay for the subsidized interest on my account but the monies have not been applied to my account. I need to see in writing where the government has paid 100 % of my subsidized interest by XX/XX/XXXX. My account does not reflect Any government payments nor does it reflect any Decrease in Accrued interest and Principal Balance. My online account has proven the government payments have not been applied to my subsidized interest.
Company Response:
State: GA
Zip: 30038
Submitted Via: Web
Date Sent: 2016-11-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2016-11-04
Issue: Dealing with my lender or servicer
Subissue: Received bad information about my loan
Consumer Complaint: I began attending XXXX XXXX at age XXXX and began signing loan documents while I was still in XXXX school. I have accumulated XXXX loans to both private institutions and the federal government totaling over {$50000.00}. I have an XXXX which has not been accepted for transfer to any four year institution at which I have applied. Numerous XXXX have also rejected the authenticity of my degree. Therefore I am stuck with a degree I ca n't use and {$50000.00} of debt.
Company Response:
State: CA
Zip: 95991
Submitted Via: Web
Date Sent: 2016-11-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-11-04
Issue: Dealing with my lender or servicer
Subissue: Trouble with how payments are handled
Consumer Complaint: I have been paying more that my actual monthly payment to Nelnet for years as I was trying to see if I could pay my student loan in 10 years. I would call and they would tell me that it would be applied to principal. Since I have it set up automatically I just call in to make sure that my over payments are applied and they always would tell me that yes they are being applied and that I was making inroads to paying off my student loan debt. After looking at my statements and seeing that I am now paid up until XXXX of next year I decided to call again to make sure that my payments were applied to principal and the CSR that I talked to said that they could n't so I asked to talk to a manager or supervisor. Again a supervisor by the name of XXXX ID XXXX told me that I was making inroads as he that I was way ahead with my over payment but that he could not apply my over payments to principal. So then, I asked him I have already been paying for 10 years on my 20 year note and can you tell me how much longer I have to zero out my student loan debt? And he told me that I had 10 years left. And that is not right as I along with a whole bunch of consumers out there are being had. They need to put a stop to this kind of preying on innocent consumer that think nothing wrong of them until we look at our lenders more closely. Please assist me in making a wrong right as we have way too many scrupulous business out there. And we certainly do n't need this additional burden on students that are coming out of colleges and universities and are already carrying a big load of student loan debt.
Company Response:
State: TX
Zip: 78254
Submitted Via: Web
Date Sent: 2016-11-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2016-11-03
Issue: Dealing with my lender or servicer
Subissue: Trouble with how payments are handled
Consumer Complaint: I have multiple loans that were reported delinquent by Nelnet, past the 120-day mark, while I was still meeting all enrollment requirements to defer my payments. This has left my credit severely damaged. I have proof from my University that I was enrolled during the alleged delinquency, and have submitted dozens of requests for review of my dispute. Nelnet only accepts disputes via fax, which is an absurd limit on the capabilities of communication for something so serious. It took them months to finally reply, only to reject my dispute with very vague reasoning. My credit has been majorly impacted for these delinquencies that should never have been triggered in the first place. These reports need to be removed from my credit score.
Company Response:
State: TX
Zip: 752XX
Submitted Via: Web
Date Sent: 2016-11-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2016-11-02
Issue: Can't repay my loan
Subissue: Can't decrease my monthly payments
Consumer Complaint: After graduating I went through the proper channels and consolidated all of my federal loans through the federal website I was given at graduation. At the time the website that was used was XXXX ( no longer in service I think ). Everything seemed fine I was making payments and keeping in contact with them as my financial situation changed. A few years later I get a call from a collection agency that stated I was in default on one of my student loans. I was very confused as to how this had happened. She stated that it looks like it was not consolidated and that she could help me go through the process to get it consolidated with my other loans, it seemed like no big deal ( at least that is how she made it seem ). We used the new website www.studentloans.gov. I had to apply for the consolidation twice because for some reason ( I was never told ) it did not go through the first time. I was told that they had to force it through ( whatever that means ). I contacted the student loan company to go through the process of setting up my payments again and they helped me choose the best option for a repayment plan. I went with their advice and filled out the application for " IBR/Pay As You Earn/ICR Repayment Plan Requests '' which was supposed to give me the lowest payments at the time, mind you higher than before but still manageable, they quoted me somewhere around the $ XXXX a month. When everything was said a done and I got the email for my first payment it was roughly $ XXXX a month, much more than what I was told. They stated that there were other options that were available but because I had consolidated a loan that was in default that I had to make 3 consecutive payments at the $ XXXX amount before they could do anything. None of this was explained to me during the time of consolidation, and even if it was it was under the pretense that my payments were going to be in the {$200.00} range. I have now had to put this loan in forbearance for the past few years as they will not work with me to lower the payments. I have almost exhausted this avenue. Every time I call and tell them what has happened and see if there is any way that we can get me back to making payments, I get a different story as to how I need to proceed only to be denied in the end. The payments they now expect me to make are $ XXXX. All I want is to be placed on a different income based repayment plan that is more suited to what I can afford. It sickens me that I have a bill that I am not paying on, but there is just no way that I can make these payments. I was given false information in the beginning and for whatever reason this loan was not consolidated in the first place, I have no idea how this happened, I think the words that were used by the collection agency " it fell through the cracks '' and since it had to be forced through, it seems to me that there was a problem on their end with this particular loan. I always call after submitting paperwork to make sure that everything was submitted properly and they have everything they need from me, I really do n't think that I would of just not consolidated one loan in the beginning. I read that it is unlawful for these companies to deny people the right to be put on the proper income based repayment plan that is suited for them. If I financially qualify for a different one, I should be allowed to change to a different one. That is all I want.
Company Response:
State: SC
Zip: 29687
Submitted Via: Web
Date Sent: 2016-11-02
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-11-02
Issue: Dealing with my lender or servicer
Subissue: Trouble with how payments are handled
Consumer Complaint: I sent two payments totaling {$710.00} on loan B of account XXXX on XXXX/XXXX/2016. I specifically asked that the entire amount be applied to loan B. It was instead applied to both loan A and B. I want this to be corrected, and the entire amount applied to loan B carrying an interest rate of 6.8 %.
Company Response:
State: NC
Zip: 276XX
Submitted Via: Web
Date Sent: 2016-11-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-11-01
Issue: Dealing with my lender or servicer
Subissue: Trouble with how payments are handled
Consumer Complaint: Many years ago, I consolidated my loan with a particular lender because of the incentives that I can earn. I 've earned them, but now my new servicer is telling me they do n't have to honor it. How is this even legal? The incentives were indeed the selling and determining factor. I honored my obligations to repay my loan and earn incentives ; and the lender can escape honoring its incentives by selling the loan or switching servicers.
Company Response:
State: OR
Zip: 97206
Submitted Via: Web
Date Sent: 2016-11-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-10-28
Issue: Dealing with my lender or servicer
Subissue: Received bad information about my loan
Consumer Complaint: My payment on the loan is due tomorrow. I called to simply ask whether if I paid tomorrow, would it go through in time? Or whether I should make a payment today? The service rep did n't know so put me on hold to talk to her supervisor. She then told me that a late payment wo n't go on my credit report for 90 days so I could wait 90 days to pay. This is not at all what I asked ( which I told her ) but she encouraged me to pay late on my loan.
Company Response:
State: CA
Zip: 94133
Submitted Via: Web
Date Sent: 2016-10-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-10-27
Issue: Dealing with my lender or servicer
Subissue: Having problems with customer service
Consumer Complaint: I am writing this complaint due to the unethical business practices conducted by my Student Loan company that negatively affected my credit XX/XX/2016. If you check my credit you will find that I have had excellent credit for years ( ~XXXX-XXXX ). A fact that I take great pride in. XX/XX/XXXX I received a credit alert. When I went out to check what caused the problem I was startled to find that my consolidated student loan was in 'delinquency. ' Because it was a consolidated loan it affected my credit as if XXXX loans were delinquent, and subsequently my credit score plummeted to ~ XXXX. I immediately took action and called my student loan company, XXXX XXXX, only to find out that my loan with them was switched to NelNet. I questioned ; how this was possible as I never signed any paperwork, and asked what happened to the online payments I was making to XXXX XXXX. XXXX XXXX advised that all of the payments I made through their system were 'bounced back ' several days after I made them because my loan had been transferred ( but on my end when I was making the payments it looked like they were accepting them ). All along I thought I was making the correct payments and was caught completely off guard. My parents also got involved. They thought that they had been co-signers on this loan. After speaking with XXXX XXXX I immediately called Nelnet ( the same day ) to find out more information and see what needed to be done to get this situation resolved. I can not express how disappointed I was in their customer service. They immediately began using scare tactics claiming I owed thousands of dollars and that there was nothing that could be done. I was given more misinformation over and over, and was told it was illegal to have my parents make payments on my student loans. I was bounced around between multiple people over the ensuing days and everyone I spoke to gave me different amounts owed, was highly rude and treated me poorly, when all I was trying to do was make sense of what transpired and rectify the situation. I called every day for a week trying to provide them with as much information as I could and even offered to pay off my account in full ( ~12k ). All of this was caused because ~ {$300.00} was in delinquency. I made the payment right then on the spot and explained what had happened to them and was told that they could only report a change to the credit bureaus if I was a. ) an active student or b. ) in the military, of which I am neither. I explained to them that I have never had an account reach delinquency before, I pay all my bills on time ( hence my high credit score ), and that there was obviously a miscommunication between XXXX XXXX, NelNet and the transfer of my loan ( I will add that I never spoke to anyone from NelNet before this issue or received any paperwork, so how was I to know I was supposed to pay them instead of XXXX XXXX? ). I never received a paper bill and was told that " it is a courtesy for them to send a bill, not an obligation, and that I should 've known. '' I simply can not believe that a XXXX XXXX company can practice business in such an unethical manner, affect someone 's credit so heavily and then not make corrections when there is clearly an error with the XXXX loan companies. I was advised that all phone calls were recorded and I implore you to look into this further. I also contacted the XXXX credit bureaus and explained the situation and asked for help. They did not research and just sent me a copy of my credit report. While all of this was going on I was trying to close on a house, which I ended up losing because my credit was so severely hurt. Please help me. It is so frustrating to do the right thing only to have Big Business squash your credit for something that is n't your fault and no one will help. I 'm just one person with no power. I hope that you can assist me in my fight
Company Response:
State: MI
Zip: 48348
Submitted Via: Web
Date Sent: 2016-10-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-10-25
Issue: Dealing with my lender or servicer
Subissue: Need information about my balance/terms
Consumer Complaint: I am repaying my student loan back accordingly to XXXX/Nelnet, however it shows as XXXX derogatory marks on my credit summary.
Company Response:
State: TX
Zip: 78542
Submitted Via: Web
Date Sent: 2016-10-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No