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.


Do You Have a Question You'd Like Help With? Contact Debt Coach Damon Day. Click here to reach Damon.

Company Response to Complaint: Closed with explanation

Was Company Response Timely: Yes

Did Consumer Dispute Company Response: N/A

Complaint ID: 2768838

The above data is from the Consumer Financial Protection Bureau. Keep in mind that every company will get a complaint from time-to-time, even the great ones. But there are a few key data points that will give you an idea about how well the company values their customers and handles consumer issues.

Look at the item Company Response to Complaint: and Did Consumer Dispute Company Response: to get a better idea of how this was resolved. And the field Consumer Complaint: can give you some context of the issue.

In particular what you are looking for was that the company response was timely and that the consumer did not dispute it. The posting of complaints has proven to be a valuable resource for both companies and consumers.

Here is where you will find important stories located from around the web which can impact you and your financial life.
Latest posts by Research Department (see all)
See also  Dynamic Recovery Solutions, LLC - CFPB Complaint ID 2554110