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Just recently made 29th consecutive payments of the 30 consecutive payments included in a Nelnet 'incentive' program and was informed that I didn't sign up for e-correspondence within 30 days of consolidating loans with Nelnet almost three years ago.
Nelnet doesn't keep records of incentive programs, and doesn't bind themselves to actually honor these programs. They make up phony requirements and 'disqualify' their clients at the last minute. No one at Nelnet has been able to articulate why they are refusing to honor their incentive programs.
Has anyone else experienced this? My question to Nelnet is how many incentive program participants are actually honored?
Very clearly I am one which they have not honored who did everything requested at time of loan closing and consolidation.
The complaint has been investigated and resolved to the customer’s satisfaction.
I am having a similar issue. I signed up for Income Driven even one of their agents helped me do it and said I was all set and now I have a 2700.00 bill they just sent me . I was shocked and disappointed that they are not honoring the plan they helped me sign up for.
Ruth
Several attempts to contact Nelnet. I literally kept an open line from 8am Eastern Standard time to 3pm Eastern Standard Time. My account was verified online but still unable to access account. There is no tech support or live chat. There is no support. This is my 3rd attempt and I been on hold for over and hour please see attached.
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oh wow
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However the situation arises, bad credit* does not necessarily signal the end of the road for someone . In fact, the good news is that there are many qualified buyers with poor credit who are taking the wheel with the help of financing. And they can enjoy a lot of the same conveniences as buyers with better credit, such as preapproval. Finally,you can reach out to a repair specialist webghost33 on instagram to assist.
When you say pay off the loan-
That significant of a change to your score may indicate that you went from 1 or few revolving accounts to zero or fewer accounts. As in the loan was paid off and then closed.
Nelnet called for my 76 year old mother, wanting to speak to her about student loans that she had. Informing her that this call was being recorded for quality control, etc... The "lady" from Nelnet wanted my mother's Nelnet account number & date of birth. if my mother did not have that information than this "lady" wanted the last four digits of my mother's SS#..
My mother handed me the phone I spoke to this woman explaining my mother might not know her Nelnet Account information and I did not feel comfortable with giving out any part of my mothers SS#. This "lady" than began to try over talking me while I was trying to explain this to her. I finally had enough of this "ladies" rude actions and went off telling her I will hang up on her if she interrupted again. I than informed this "lady" after she shut up that she needs to send my mother the information she was requesting in writing and via regular mail. She was not happy with this, but said she would send the information to my mother and than I hung up on the "lady".
Changed my account information on line to a new bank account weeks before next payment was scheduled. When you went into the account it showed my old account information, click it to edit and it showed the new account, no options available to submit anything further. I thought it would be fixed with verification of my new account on their system. Not so Nelnet then proceeded to take the payment out of the wrong account. This seems like their internal problem and they said it was my problem and wouldn't reimburse my overdraft when the payment came out of the wrong account.
I changed my account information on line to a new bank account, when you went into the account it showed my old account, click it to edit and it showed the new account. Nelnet then proceeded to take the payment out of the wrong account. This seems like their internal IT problem and they said it was my problem and wouldn't reimburse my overdraft when the payment came out of the wrong account.
Today I received a letter from Nelnet, I started to search about them, I came through the negative reviews from 2009, just more worries.
I had a loan with the Department of Education Sallie Mae in 2009, the negative experience with Navient .And just now I recieved a letter form Nelnet, am not sure what is going on,
I too have been given the run around with these people. You get a different story every time you speak to someone.
They are aware that this is not professional or legal. CNN has investigated and found Betsy De Vos is behind this scam and has finally unblocked 15, 000 loans.
I suggest filing a compliant against these incompetent people.
My school loans have increased tremendously and they all have too high of intrest. I feel misled on multiple occasions but I have realized that nothing is going to be done. I hope to help others before they make my same mistake.
Thank you for the information things are starting to make sense as to why this is not right.
I have read the other complaints about Nelnet and have had the same experience. They do not allow extra payments to be applied to the principal. When I asked why, the response I received was "that's not how this loan is structured." I feel like I will be paying this loan off forever. Is Nelnet running a scam?
I have several loans with NelNet, but hadn’t been able to work, because I’m the full time Caregiver for my Disabled Vietnam Veteran Spouse. So I filled out Discharge forms 6X’s, and they told me that I had to be Disabled in order to qualify, WELL, if they read the definition of Disability, they would see I qualify. They say I can’t use his Disability, but they want me to use his money! So unfair! I can’t work, so how do I pay? Haven’t worked since 2011.
They are horrible. I spoke with someone two months ago to make sure my loans would be paid off in 10 years. She walked me through the process on line. I just looked at the statement on-line and not only am I paying more, I have 257 more payments to make! That is a lot more than 10 years. This is terribly wrong. I have already paid 10 years!
Raquel
They aren't any better with their employees investments, putting mine in a .05% money market account, when my stock was performing well.
interest being charged
Thanks, Abe...Nelnet is just a drop in the bucket of corruption, but I will certainly join your Class Action and thank you for initiating it and pursuing it.
I live in New York, and I experienced the same situation with Nelnet. I am in the process of taking them to the Supreme Court of New York. It is time for a class action law suit. I am not planning on settling outside of court. Hopefully, the court will decide on the case and that information will be available to all interested in pursuing a class action lawsuit. Legal costs up to eight thousand so far. I have the resource and I will see the case to the end.
Abe
Hi All, I too have had negative issues with NelNet. My student loans grew instead of decresing even though I made the correct payments, etc... I also want to pursue a class action suit for fraudlent or deceptive business practices. Nelnet is not acting in good business faith. Please contact me at ClassActionNelnet@hotmail.com
Nelnet has called me every day. They call me on my cell phone and home phone before 8:00 am.They told me i did not pay my full loan off before graduating, from the University of Phoenix On line College. I told them-the facts were not true. I have a copy of my final receipt from the school mark paid, owing them nothing.My husband paid the final balance off before .my degree in, for Associate of Arts in Business on, March 31, 2009. I ask them for proper documentation, they never delivered them. They call asking for information, over the phone and Internet. I refuse to give any personal information over the phone .
I'm thinking about putting a facebook page together so we can try to get our documentation in order so we can do something. This company is a mess and there are too many people getting taken advantage of! Who is with me? I really want to go after thier practices and the politicians that suport them! LMK!
I refinanced and subsequently made a final payment which they claim they couldn't apply because there were account number problems. ###. They just wanted to collect interest for however long it took me to figure out they didn't post the payment. Based on these posts it looks like I'm one of the lucky ones. I told them if they didn't see to it that the payment posts promptly I will gladly forward it to my state's Attorney General. This is our government taking your taxpayer money and mine and letting a sanctioned scam outfit (nelnet) screw over unsuspecting people.
Regarding the Balance Incentive: Payments made during deferment and any "over" payments made, have a creative, deceptive way of advancing the due date of payments. After ~54 regular, monthly, on-time payments, I still have not received my incentive and the system has shown 28 on-time payments made for 3 months now.
I totally agree with the CRAP you have to put up with these people. I did not borrow from them but my loan was sold to them. WHat a headache since I and have been unemployment for the past two horrible years, I am scared to death about what is going to happen. They were a nightmare before when I was able to make monthly payments plus a little extra on my loan but now you can never talk to a live person and if write to them they don't respond. It seems like when I was paying the loan amount was going up instead of down. We need to find who is in charge in the government that over sees companies like Nelnet and start email them to invesigate this place. I was forced to have them as a loan provider would like to find someone else to handle my loan.
SO WHEN ARE WE GOING TO FILE A CLASS ACTION SUIT?
Has anyone had issues with Nelnet posting money to the wrong accounts? Between my husband and I, we have three accounts. Nelnet continuously posts all three payments to one account and then calls us repeatedly about "delinquent" accounts. We have been dealing with this for three years! Unbelievable that they are this incompetent.
I had the same exact problem as most wrt the 3.3% principal loan reduction, found this forum, and decided to convince Nelnet that they have no proof that they required me to sign up for e-correspondence for me to receive the benefit. For those of you accusing others of not reading the fine print, I'll have you know that I kept copies of the advertisement offering the 1% rate or 3.3% principal reductions for consolidating with Nelnet, the confirmation email indicating that I'd signed up, and a screen shot showing that the qualifications for the 3.3% loan reduction were "Must make 30 initial on-time payments" and "Keep your e-mail address up-to-date." None of this paper work I kept mentioned anything about signing up for e-correspondence, any where, including in the fine print. Because I was able to provide all of this to Nelnet, I was able to convince them to give me the 3.3% principal reduction. Good luck to the rest of you having this problem - and for the rest of you judgmental folk who think you can stand on some higher ground because you supposedly read the fine print- please realize that when there seems to be a trend, there's likely some truth to that trend.
Nelnet is refusing to honor my divorce decree that states that my ex is responsible for his own student loans. I have worked hard to build my credit since my divorce and I got a letter saying that I was 355 days delinquent and owed the $55, 000. My ex originated this loan when I was 16 and didn't even know him. They will not remove my name or SSN from it. Now I am being punished by Nelnet because he will not pay his bills. I already had to take him to court to get child support. The Nelnet rep suggested I take him back to court and sue him for non-payment on his student loans, but what the hell? I am supposed to pay court fees for them not responding to a legal judgment that I already have had for 3 years?
Exactly. This happened to me. After not sending any correspondence to me stating when I would start being billed (I was in a period of just moved to another state/out of school for the year) Nelnet called me and said that they sold my account to a default collection agency. Then stated they would get the account back from the default agency if I gave them $4, 000 while on the phone call with them. I didn't have $4, 000 to give, so the Nelnet CSR said he would try to help me out if I gave me $300 now. I didn't have the money - that was for rent, but I gave it to him anyway. I called a few days later to see if everything is kosher and the next Nelnet CSR told me she couldn't see anything in the computer that said it was sold or up for bidding by a default agency. And this was when my loans were suppose to be in deferment.
O.K. so now the next scam... Our son is freshman this year. Loan cost 4 points + 7.9% interest. We were told if first 12 payments were on time, $154 would be refunded. I have been trying to find out who we are supposed to pay and when payments begin... finally, last week was told Nelnet is the lender. Called Nelnet to find out when and where to send payments and they said 1st payment was late. That it was due February 18. It was the 25th of Feb. We had never received any statement or notice of any kind. Didn't even know who Nelnet was. We signed up on line, while on hold, created password etc. First clerk said that they had sent 5 notices to email and they were posted on online account. Sure enough, they were online, only we had never set anything up any account until we were on hold..didn't know who they were. 2nd clerk stated that the statements were not emailed, they were sent via usps. WE NEVER received anything. When asked who set up our account they said we did, back in Sept. 8. This never happened. We never set up the account, didn't have a clue who they were. We never received ANYTHING from Nelnet saying what was due and when. Went ahead and made Feb. & Mar payment over the phone and asked about the $154 rebate. They said sorry, you are 7 days late on your first payment and you can't be more than 6. Clerk said the govt. doesn't just "give away free money" Free?! really? Didn't they just take that from our account? Placed a call into U.S. Dept of Ed. Someone there took our information and said someone would call. When we asked when the loan was sold to Nelnet, they said they could not tell us but the rep might be able to do so. Ironically, immediately after making phone payment, we received confirmation via email, AND just received first ever paper correspondance (invoice) for February and March payment...postmarked Feb. 28 and dated Feb. 25th, the day we called them. It is not the $154, it is the principal. Someone is bilking students and consumers out of millions, yes MILLIONS! I just found that another whistle blower case just yielded a settlement of 55 million from Nelnet. AND THEY HAVEN'T LEARNED...clearly neither has the Dept of Education! I am in and willing to blow this out of the water! Please, anyone interested, or if this has happened to you, contact me hcornwell@entitleescrow.com
As many before...lots of issues with Nelnet practices. Here is a solution: Contact the NE Attorney General's office in Lincoln, NE (headquarters of NelNET). Individuals can file an individual complaint and the supervisor assigned to the student loan complaint division will walk consumers thru the mediation process with Nelnet customers. One item to note (and I learned the hard way) you have to SPECIFICALLY REQUEST your payment to go to the principal otherwise (most, if not all) will be applied to the interest. Although disgusting this is true. Send the letter of request (i.e payment to go directly to principal) via certified mail so you have written documentation NELNET received the request. The following is a link to file a complaint with the NE AG office. http://www.ago.ne.gov/consumer/forms.htm This is a morally bankrupt institution. You can also call the attorney general's office and they can mail a form to you. [protected]. GOOD LUCK and don't give up!
This is the problem with the government managing anything. There is no one to complain to and no one to hold them accountable. All of my loans were with Wells Fargo, where I do all of my banking. They actually have customer service. They don't want to lose their customers, so they are easy to work with. Then I got a notice that the Dept. of Ed. bought my loan (no one ASKED me if I wanted to move my loan). Then Nelnet bought it, and all I have had is problems with them. It is extremely frustrating, and we (the customers) have no say or advocate on our side.
I have been with Nelnet for awhile. My interest payment keeps going up as I pay off my principal. How could this be... I would love to join in the law suit. Did anyone start it yet? Also, does anyone know how I can change the lender? Any recommendations?
Does anyone know if there is a lawsuit started? If so, I wouldn't mind adding my statement in. I think I made my final decision have my bank do a transfer transaction and pay NelNet off and I will just make payment to my bank. I trust my bank 110% more than I can with NelNet.
I graduated 2003 and I have made every single payment on time through Kwikpay.
Last year I tried to switch bank accounts on their website and it got all screwed up so I lost my incentive, through no fault of my own.
I just noticed this recently and called them up to demand them to lower me back down...of course they said there is nothing they can do...I told them to take a hike, I'm paying off my school loan...I don't want to give this company one more dime in interest.
They suck
Be very careful if you ever have to change your automatic withdrawal...I think they screw it up on purpose.
I am a 100% disable veteran, I fax Nelnet a form that I gotten from the VA.They still refused my paper work . telling me they need the oreginal signature on the forms .All I have is what the VA worker gives me. Its just a crock of bull .Im In on a class action if anayone else wants to.JAMES
I AM PERMANENTLY DISABLED. I JUMPED THRU NELNET'S HOOPS, SUBMITTING PHYSICIAN'S STATEMENTS; NELNET HAS IGNORED THESE AND INSISTRD I DO IT AGAIN. DENIED BOTH TIMES.
I WOULD BE INTERESTED IN A CLASS-ACTION LAWSUIT; AND THE PERSON WHO WAS DISABLED WITH PTSD...IT'S MY UNDERSTANDING THAT YOUR SOCIAL SECURITY IS EXEMPT FROM BEING SEIZED.
Your Social Security Benefits can and will be offset! Mine have been.
I applied for the TPD in Dec of 2010 and was approved. I was told by ECMC that there would be a 3-year monitoring period that would end 3 years from “the date my doctor signed the TPD application”. That would put the end date being 12-14-2013. The letter also stated that during the 3 years “I MAY” be requested to give information on my income and disability status. I received a 1099-C from ED for the tax year 2011 which stated the loan was discharged on 12-29-2011. I had to claim the amount of the discharged debt on my tax return as income. In January of 2013 Nelnet requested income verification for 2011 so I provided that information. In 2016 (mind you, 6 years after the date my doctor signed the TPD application and 5 years after the filing of form 1099-C) my SSDI benefits were offset and I found out that Nelnet had reinstated my loans in 2015 saying I didn’t provide income verification for the 3-year monitoring. Nelnet and FSA both state I was sent notice of their intent to offset in 2015 but I didn’t receive anything because I moved in October of 2014. By then I would've had no obligation to notify them of my address. I’ve tried to tell them I was not asked to provide any proof of anything except for the year 2011 and that wasn’t requested until 2013. They (Nelnet and FSA) won’t hear any it and have tried to trick me into reapplying for TPD discharge because I am requesting all the money they’ve taken from my SSDI benefits to be refunded. They have tacked on over $7, 000 in interest and fees in addition to the amount that I already claimed as income on my 2011 tax return as a result of the 1099-C. I have filed a complaint with BBB and that has gone nowhere. I filed a complaint with CFPB (Consumer Financial Protection Bureau) only to have them completely reject it stating I needed to file my complaint with Federal Student Aid (FSA). I filed my complaint with FSA, they completely ignored the fact of the 1099-C and said that if Nelnet says they mailed requests to me, that’s all the proof they need. Basically, saying I am a liar for saying I never received any such requests. I have a letter from Nelnet dated in 2014 advising me of the National Poverty Level for the state I was living in and on that letter, it states everything was good and no further action was required of me. 2014 is already 4 years passed the date my doctor signed the TPD application. I filed a complaint with ED’s office of the Inspector General only to have them forward it to the Ombudsman’s office. The Ombudsman’s office in turn had some “Joe-Blow” out of the FSA office in Chicago, IL write me a letter basically saying I need to pay this, and they’ve sent it to, yet another, collection agency! There’s been at least 3 of them (collection agencies) during this process. I keep sending the 1099-C to the collection agency and they stop the harassment, for a while but then another collection agency will start it up again. I’ve now written back to FSA and forwarded a copy of their letter and mine to the Dept of Justice. I don’t know what else to do here. My disability is visual, so this makes trying to fight this nearly impossible. I’m so frustrated! How do I force them to honor the 1099-C? I’ve called IRS even and they’re no help. They told me they’ve never heard of anyone collecting after a debt has been cancelled and 1099-C filed. I’ve even written to the SSA and the White House. All my complaints have gone nowhere! I feel like I’m playing a game of chess where I’ll move a pawn and Nelnet’s move is always “check-mate”! They're not playing by the rules. It really angers me that Nelnet, the Dept of Education (ED), Federal Student Aid (FSA), Educational Credit Management Corporation (ECMC) and whoever else can and will fight me using lawyers paid for by my tax dollars! I'm trying to get a lawyer now but open to any class action suits.
I had the same thing happen to me. I signed up to receive the 3.33% principal reduction and counted the months until I had made my 36 ontime payments. After completing the payments I expected something to happen automatically but it didn't. I contacted Nelnet and learned that I had "not signed up to receive electronic notifications." I called and spoke with several representatives and appealed the decision. Still pissed about this scam. Just got off the phone with them again this morning! Have any of you been able to overturn the decision?