CFPB Complaint

NELNET, INC. – CFPB Complaint ID 3062823

Consumer Complaint Submission

Date Received: 2018-11-01T00:00:00.000

Product: Private student loan

Issue: Dealing with your lender or servicer

Consumer Consent Provided to Share Complaint: Consent provided

Consumer Complaint: I spoke with Nelnet and advised them that my loan keeps going up even though I was making payments each month on time. They told me that I would need to go into a higher repayment plan ( standard repayment instead of graduated repayment ) in order to have my payments go towards my principle. I am making payments now and am having the same issue. My payment amount is {$280.00} per month and I am paying {$300.00} and my payments are still not being applied to principal. I do not see how this is ethical. All of my other loans that I pay, I pay the same way, however, I am actually lowering my balance.

Company: NELNET, INC.

State/Zip: NY

Company Response to Complaint: Closed with explanation

Was Company Response Timely: Yes

Did Consumer Dispute Company Response: N/A

Complaint ID: 3062823

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.

See also  Navient Solutions - CFPB Complaint ID 3058176

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