CFPB Complaint

NELNET, INC. – CFPB Complaint ID 3066675

Consumer Complaint Submission

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

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  TRANSUNION INTERMEDIATE HOLDINGS, INC. - CFPB Complaint ID 2821589



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