Nelnet
Reviews and Complaints

A school can provide information to the lender that will cause your funds to be altered or canceled. If you are no longer enrolled in school, you are no longer eligible for the funds that have not yet been disbursed. In your case, your disbursements you had yet to receive were "canceled" due to no longer being eligible, since you withdrew. I may be confused by your compliant, but are you saying you wanted the funds you were no longer eligible for? I am not sure where you receive your information, I would be curious to see it. If you review the Common Manual which regulates student loans then you will see the federal regulations that states a school can return/deny the incoming funds if you are no longer eligible. Look in section 7.7.K http://www.nchelp.org/elibrary/index.cfm?parent=29

We are researching this industry and we are hoping you might contact us.

e-mail: wgadal (at)gmail.com

Thank you

You can only pay to the principle balance of the loan if it is within 120 days of its disbursement. Once you're outside of that time period, your payments will always go first to the oustanding interest and then to principle. You might want to check the disbursement dates to see where you are in relation to that time period.

I actually thought I wrote this message a had to double check the name. Nelnet is ridiculous and told me that you can never apply extra payments to principle only. I used to underwrite loans. That is bogus information. Try to spread the word! I think I'm going to contact my public radio about this and try to get a show on the issue. It's bad enough that most of generation is inundated with student debt, but to not have the right to actually pay it offer without benefiting the servicing company?! That is ridiculous! Thanks for getting your voice out there! If you call them they will rework your loan. I call them after every payment.

I agree with the point you have made about buying American made products, it keeps the money here at home and someone employed.
Wake up consumers, your spending habits are a more powerful weapon than you may think.
One individual may not change things, but a group of individuals can. Your money is a powerful weapon.

Nelnet was bought out by M and T Bank--They have been following me all over the place for the last 4 years! I always see some fuking idiot with Maryland plates on my six--what a bunch of blood suckers! Someone has to do something about the practices by M and T bank since they rip everybody off with their overdraft fees and I am sure the FBI has undercover people working in their midst and their crooked idiots at the top just keep over the American Public, primarily the poor student borrowers! I hope you piss off the wrong borrower and you get screwed in court you bunch of crooks!

I'm very frustrated with Nelnet's shady business practices and ridiculous interest calculations that make no sense. After over three years of paying on my student loans that are serviced by Nelnet, I feel like I've made no progress. I've been reading the comments by others with similar complaints and discussion of a class action lawsuit. I don't know if that is possible or not, but if it is... I'm in!

Same issue i finished college and joined the military they continue'd to call my parents house several times they gave them my number and told them i was ready to start payments and the entire time i was in basic and ait i received no calls and well they wouldnt try anything at all .. so i get out of the army now and i try to get a vehicle... nope bad credit.. they have screwed up my credit so bad i cant get anything no loans no cars i have to pay almost half the price for the car just to walk off the lot with it..nel net has pretty much ruined alot of things

Interesting... I had the same thing happen - I had called multiple times to get my loans into deferment last August. I was told to check online in about 2 weeks to see my loan list updated. I check... 2 loans are not in deferment. Ok, weird, so I call them up again. (Not to mention every time you call and reach someone it takes hours - I would call every day on my lunch break at work) The customer service lady said she wasn't sure why ALL of the loans weren't deferred. Ok, so I asked her to put them all in defferment. Check back in 2 weeks! Same thing again! Finally after 3 months they were ALL in deferment in October! During that time Nelnet was calling and threatening that they just sold my account to some collections agency and if I gave them $4, 000 right now they would dismiss it. Who has $4, 000 right then? So the guy said he needs $300 that day - so I let him charge my card - although that money was for part of my rent :( When I called later on to see if everything was in good standing and they were not going to send me to collections the other CSR I spoke to said she didn't see anything in the computer that they sent it to a collections agency to be bid on.

I do have two phony? loans recently put on there amounting in about $5, 000 from some M&T bank that is boggling me from the state of TN. I live in California! I dread spending my week calling them >.>

My loans were with Wachovia and when they went belly up my loans got bought/sent over to Nelnet. They were in deferment when they were with Wachovia and are still in deferment (from March 2010 - April 2011) but Nelnet went and told the credit bureaus I was late on payments starting July 2010! How do you figure? So my credit score has dropped like a ton of bricks and trust me, the credit bureaus are NOT good at fixing things like this. They investigated it and got it changed from Late to Pays as Agrees but still has the Past Due months on there! COME ON! This has been a nightmare! Almost not worth going to college now...

I just recieved a call for my son from nelnet. He's 20 and in college currently. They called from an 888 number and my son has NO LOANS with nelnet.

I can only imagine what to expect as I sat on hold for 1/2 hr and no one ever picked up. I don't know them. All of my son's Stafford loans are Sallie Mae, the rest were paid in cash by his parents (us) out of our home equity line.

I believe what all of you are saying. Im grateful we never had to deal with them for 3 daughter's loans for undergrad and grad school.

I'll post when I find out what they wanted my son for. Good luck to those of you having these problems. The others that are critical of you need to get a good kick in the ###.

I was in a deferment when my loan was sold to nelnet...I have refiled papers which they say they have never received and now they have locked my online account, so I can not get any information unless I call them which I did and they sent me deferment papers again, which I mailed in... and they have said again they did not receive. Now they have sent me a notice stating they want to seek legal action against me for being late...I was notified by the company that sold my loan that it was suppose to transfer to nelnet...Well, big joke! Now I am being sued by nelnet and I am only 4 months behind on a 3, 000 loan and they refuse to work with and are demanding the to whole amount or they will put a lean on my taxes...Beware of this company they are crooks! My student loan has been nothing but trouble since it was bought by this company!

They're not recording payments properly for me, either. I'm ready to call a lawyer and contact the AG's office. This is out and out theft and corruption and it's time Nelnet was kicked to the curb.

The next big bubble is going to be the student loan bubble, and Nelnet is going to fall hard. You'd think they'd be grateful to have customers who are paying back on time. Nope. They screw the people who ARE paying because of the people who aren't.

Write your representatives, and get the name of a good lawyer. These Nelnet people are bottom-feeding ###.

I have just this past year been switched to Nelnet by the Department of Education to manage two loans I have for my son in college. I wonder what US Representative is getting paid off by this terribly incompetent company? The website is horrible and I have been having the same problems regarding applied payments and due dates. They don't seem to understand when a deferment should be applied or to whom it should be given. Another example of our government screwing up and screwing the little people by out-sourcing to incompetent contractors!

Agreed. They cant figure out how to apply payments or record.them properly. I am lodging a complaint with my state attorney general's office.

I am experiencing something similar. I have a group A and B loan through Nelnet and am having a very hard time getting the correct payment to process. At first, I was simply adding up the amount due for each and then sending one payment to cover both. They have been applying more towards one and not enough towards the other and that is causing more interest to build. In an effort to combat that, I decided to submit a separate payment for both. Well, they split the first payment by two and the 2nd hasn't been applied. However, the total of both checks appears on the payment summary screen.

My credit has been destroyed by Nelnet as well. You are correct they rarely send paper bills or online statements saying when a bill is due or if it is overdue. I had issues for several months trying to access their site as well along with many hours trying to get a live human being on the phone. Btw, if you need to reset your password and actually get to talk to someone, they don't "reset" it, they tell you to create a new account. I thought surely this wouldn't work because the system would recognize my email was already used and reject it, but lo and behold that was the way to fix being locked out/other issues...! I was going through a separation last summer during a lot of my nelnet BS when I didn't know payments started again (for being out of school x months) as I received no correspondence stating so. It destroyed my credit. After nearly 8 months of trying to get a car (ex husband had car, I had no car at the time) and being denied due to only Nelnet being on my credit I finally got a car at 29% interest with a cosigner on an old car with problems with some finagling from the car salesman. What a nightmare.

I have had this problem too. Try remaking a new account - I was told by one of their CSR's this is how you "reset" your password. You can use the same email you used with your previous account. It will recognize your SS# or whatnot and when you log in with this "new" account all your old account stuff will be there.

Your due date advancing and the speed at which you are paying down your lon are not necessarily tied together. Lenders of student loans are required to give you the entire term to pay back your loan. As a result if your regular payment amoutn is $50.00 and you send in $100.00 the entire amount is applied immediately, your due date advances because you have satified addtional payments, not because your servicer is holding onto the funds until next month. If in the same scenario you sent in $75.00 you would not see the due date advance an additional month unless you were to send in $75.00 the following month as well.

The interest on your federal student loan is in no way built in. These loans have simple daily interest accrual. You will never pay a cent of interest that hasn't actually accrued and will never pre-pay interest on this type of loan. Check your statements each month-you will see that your funds have been applied as you intended with zero extra work.

You need to contact Social Security Dept first and tell them the problem. Student loans unfortunately can be garnished from your SSI check, but you should have had tons of notice about the garnishment before it happened. If you haven't contacted Legal Aid, then do so, that was good advice. Here is a website with more info that might help you: http://www.illinoislegalaid.org/index.cfm?fuseaction=home.dsp_content&contentID=2501

I work with a company that does default managment for several schools and on a daily basis we work with Nelnet and I must say they are a JOKE. I have has several students whom they put more effort into the student defaulting on their loans then helping them keep current and stay active. Not one but two reps at Nelnet told a student that they defaulted on the loan but when they spoke with the guarentor on the loan they were told it is still with Nelnet and the default has nto been paid yet. Their reps are trained to confuse and give students the run around so they can say they gave due diligence when they default. If there is a problem with paperwork submited Nelnet does not even call the student to tell them, they let sleeping dogs lie and wonder why students yell when they acctually get someone on the phone.

Nelnet has sent bills throughout the mandated forbearance period that shows interest and late fees. The latest one came with a due date of Jan 15. requiring full payments for the last four months, or they will charge late fees. Why is this happening? Is Nelnet exempt from the national student loan forbearance mandate?

I feel like I've been scammed. Got a solicit call for loan forgiveness. Usually dont reply to these but have been through so much I went for it. First they say 20 dollars a month for 20 months and it will be forgiven then the paper work came and it was something different. When I contacted them about it they had no record of that agreement. Originally my loan was in my name only now they wanted my husband's income who's been out of work for three years Pryor due to knee replacements. Before that cancer. Before that he cut two fingers off. So it's been tough. When I started to make payments my son who has three children and his wife doesn't work. ...their house burned down so they came to live with us and have been here for 5 months. So I asked for a deferment for a couple of months. So for and 86. Dollar Payment it cost me over 600. Dollars takes on to the loan. That was a few months ago and I am scared to call so they are threatening me for default now. Not sure what to do..I have a outstanding credit rating but know this nightmare is going to ruin that. Any suggestions.

I have a loan with Nelnet, and have been paying $928.77 monthly on my student loan, Nelnet charge me $11.40 daily on top of regular interest rate and they expect me to continue to pay $928.77 monthly for the next 19 to 20 years. I called to refinance with a private finance company. NELNET needs to be investigated criminally, this is extortion and slavery.

The Federal loans being managed by entities such a Nelnet are the biggest ripoff - We are paying thousands of dollars per year towards principals that never go down, while the interest yearly amount steady increases. How can we ever get out of this nightmare. 30 years to pay my school loans with interest at 3.5% compounded daily interest? Common! What a f%$#&@! joke! I will be 80 before I make a dent into my student loans. Ready to join the law suit: milosa0447@gmail.com. Let's do something about his!

I would like to join in as well. My student loan started in 2009 while I was in school. Total amount after school was around $9, 000 and got put on deferment or forebearance due to being a divorced mom with 2 small kids and low income despite me working I was still below poverty. I landed a promotion at work which pulled me out of every qualification for that. Which sent my $8k loan up to $17, 000 overnight. The only payment plan I qualify for now is graduated repayment. My payment is $192.00 a month and only $10 goes towards principle. How is one to pay off a loan with daily compounding interest and a payment that does nothing at all. I don't have the credit to get a bank loan to pay it all off and even so I couldn't even afford the $600/month payment a bank would expect out of me. I went to school to better myself and help provide more income to sustain life as a divorced mom with small kids in tow. Nelnet is an absolute scam and the gov't should hold them accountable. Daily compounding interest...a high interest from say one of these secondary secured loan companys doesn't even come close to what nelnet is doing. My email is mycartersbaby@aol.com please help!

My story began back in 2010... first MyGreatLakes bought the loans off the previous servicer and each time I paid only the interest was covered not the principle! So, I paid extra to them after a while and it still went up. At one point I wound up disabled and went through the DOE to try and help me apply for TPD discharge! At the time Nelnet was the ones that the application went through... end result was it was approved. Then last December I started receiving statements claiming $0.00 due and until the last one I received had not looked at the back of the statement... on that it said I had accrued interest totaling about $84, another "letter" (not a statement) wound up in my mail just the other day with a new total of $177 and some odd cents as the amount! TPD discharge releases the approved applicant of any remaining interest as well as principle! Apparently what they did was switch it to forbearance or deferment (with only a year "grace period") from what it originally was - TPD discharge has a 3 YEAR monitoring period, mine will be up in November NEXT YEAR! These folks are pure scum of the worst kind! Someone should let the DOE know so hopefully they can kick these lying theives to the curb ASAP! If there was a way to join one, I'd happily be a part of a class action lawsuit against them... purely on principle alone! This bunch needs to be taught a lesson and made an example of... they're no damn better than MyGreatLakes another bunch out to drain every penny from others!

I very upset with this mess my wife has gotten herself into with this company. She co-signed for a loan from this company, for my stepdaughter to attend Brown Mackie College. The loan amount was supposed to be $7500.00, but my stepdaughter claims that she only received $2500.00. Some problems arose & my stepdaughter didn't finish her course, but very soon after, Brown Mackie College closed it's doors on all of it's students. Well, a few months later, that's when the bills started coming for the loan repayment, for the full amount that was applied for. Netlet had been contacted & told that only $2500.00 of the loan had been received, but Netlet claimed they sent all of the money, even thou bank statements showed only $2500.00 being sent to the bank. Well my was threatened to be sued by Netlet, so she started trying to pay off the loan a few years ago. Well now their really getting dirty! Around April of 2017, they started sending bills with the amount due, $0.00, until further notice. Well I tried to tell my wife not to fall for that, because I thought it was some kind of trick, but she was not trying to hear it, as she thought she was being awarded some kind of grace period in payments. Well several months went by, & my curiosity was getting the best of me, so I started comparing the current bills to the previous bills, & sure enough, the total amount was more than when she first started paying, as the interest kept going up higher & higher. This is a very dirty trick, & as far as I am concerned, this company needs to be sued & shut down! Is there a law firm out there handling cases against Netlet?

My husband has been paying off his consolidated $80k student loan since 2000. We have given Nelnet/ACS/Xerox/Conduent/NYSHESC, yes all of those companies have their hands on our money, almost $150, 000.00 since the inception of payment in 2000 and somehow we still have $65k left to pay. Not one single payment has been applied the same. I hope this consortium is taken down. I hope these people go to jail. I hope that we can come together and get these people to own up to their fraudulent behavior. It is incredibly maddening and horrifically stressful trying to deal with the devil.

I am here today Wednesday 19th April /2017. I have 42K of original loan combining 10 groups A-H with different interest rate 3.15%~6.55%. I graduated May 2014 with BS in Computer Science, and started my repayment 01/19/2015. I set up auto wiki pay every first day of the months, and my monthly payment is around $535. I paid off one group F about $1000, and they bring down monthly payment $524. I had all history payments and just recognized recently that they are trying to push "the advance due date" to future to accrue the interest from me. Even though I tried to make overpayment every month, and sometimes pay two or two times a month to toward the principal, those extra money never reached out the principal and toward the interest first. They explained they accrued interest every single day first, and we (victim students) have to pay interest first. Sometimes, they tried to delay withdraw my extra payment and invisible 'the advance due date' box in order for them to accumulate more interests. I tried to contact representative chatting online 4~5 times, and stated that I want them not to advance the due date. They said they send a request for me and I am waiting till next month. When I check back, they still advance the due date. They tried to delay the process as long as they can to have us pay more on interest instead of principle. They explain they advance due date to help me manage my loan repayment. Whatever they said do not believe them because they are always nicely explaining what they already did to get your money. Summary: Whatever effort we are trying to pay back our loan, there is no way to pay it off less than 10 years unless you pay double or triple monthly payment. (example: we borrow ~40K for a car with 5% interest, and will pay it off about 60months~5years) But Why we borrow 40K student loan with small interest from 3%-6%, and have to pay it off from 10 to 15 years with the monthly payment similar?How much more interest we have to pay for Nelnet? I have a mortgage too and all my extra money always go to principal every month. My mortgage interest is higher than student loan interest, but that is not terrible like the way interest loan from Nelnet accrued.
I want to join the lawsuit when you guys start and need me, anytime, and I am in San Jose, California. my email: diiemnguyen@yahoo.com

Invaluable comments . I am thankful for the details . Does someone know where my company might grab a blank IRS 1098 copy to type on ?