NELNET, INC. – CFPB Complaint ID 2768838

Date Received: 2018-01-01T00:00:00

Product: Federal student loan servicing

Issue: Dealing with your lender or servicer

Consumer Consent Provided to Share Complaint: Consent provided

Consumer Complaint: I refinanced my student loans with Nelnet. They keep asking me to go into forbearance when I have trouble getting work.
My direct consolidated loans are = {$68000.00} Direct Subsidized A {$32000.00} and B {$35000.00}.

Part of my now {$81000.00} loan has become so high with {$11000.00} in capitalized interest and {$1100.00} in accrued interest amounting to {$12000.00} in total interest is triple the amount of interest I should have paid on loans with a 6.25 % interest rate, which should have been only {$4200.00}.

Nelnet told me there ‘s no way to stop paying such high interest and the interest is at least {$400.00} per month alone. I feel underwater and trapped with the amount the loan keeps climbing and need help.

Company: NELNET, INC.

State/Zip:

Company Response to Complaint: Closed with explanation

Was Company Response Timely: Yes

Did Consumer Dispute Company Response: N/A

Complaint ID: 2768838

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