NELNET, INC. – CFPB Complaint ID 3066675

Date Received: 2018-11-06T00:00:00.000

Product: Federal student loan servicing

Issue: Dealing with your lender or servicer

Consumer Consent Provided to Share Complaint: Consent provided

Consumer Complaint: I spoke to Nelnet on XX/XX/XXXX regarding the number of payments I’ve made, the total of the payments I’ve made, and how I still owe over half the balance I started with 6 years later. The loan started out at {$6100.00}. I’ve made steady payments since XX/XX/XXXX, at 8.25 % interest, yet I still owe {$3400.00}. I see that I was put on some kind of payment plan in XX/XX/XXXX that I have no paperwork on, nor did I agree to. It started a 52 payment term, and I have no idea why. The customer service rep ‘s response to my questions was ” interest is charged daily. ” That interest amounts to about $ XXXX/day. That would equal in the neighborhood of {$1600.00} paid in interest over the past six years. However, their webiste says I have paid {$3300.00} in interest and {$4500.00} on principal. In addition, the Master Promissory Note is not available online in the documents section, nor is any proof that I agreed to a revamp of my payment schedule in XX/XX/XXXX.

Company: NELNET, INC.

State/Zip: MD

Company Response to Complaint: Closed with explanation

Was Company Response Timely: Yes

Did Consumer Dispute Company Response: N/A

Complaint ID: 3066675

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