Nelnet review: scam and cheating 74

Exactly. This happened to me. After not sending any correspondence to me stating when I would start being billed (I was in a period of just moved to another state/out of school for the year) Nelnet called me and said that they sold my account to a default collection agency. Then stated they would get the account back from the default agency if I gave them $4, 000 while on the phone call with them. I didn't have $4, 000 to give, so the Nelnet CSR said he would try to help me out if I gave me $300 now. I didn't have the money - that was for rent, but I gave it to him anyway. I called a few days later to see if everything is kosher and the next Nelnet CSR told me she couldn't see anything in the computer that said it was sold or up for bidding by a default agency. And this was when my loans were suppose to be in deferment.

Nelnet is refusing to honor my divorce decree that states that my ex is responsible for his own student loans. I have worked hard to build my credit since my divorce and I got a letter saying that I was 355 days delinquent and owed the $55, 000. My ex originated this loan when I was 16 and didn't even know him. They will not remove my name or SSN from it. Now I am being punished by Nelnet because he will not pay his bills. I already had to take him to court to get child support. The Nelnet rep suggested I take him back to court and sue him for non-payment on his student loans, but what the hell? I am supposed to pay court fees for them not responding to a legal judgment that I already have had for 3 years?

I had the same exact problem as most wrt the 3.3% principal loan reduction, found this forum, and decided to convince Nelnet that they have no proof that they required me to sign up for e-correspondence for me to receive the benefit. For those of you accusing others of not reading the fine print, I'll have you know that I kept copies of the advertisement offering the 1% rate or 3.3% principal reductions for consolidating with Nelnet, the confirmation email indicating that I'd signed up, and a screen shot showing that the qualifications for the 3.3% loan reduction were "Must make 30 initial on-time payments" and "Keep your e-mail address up-to-date." None of this paper work I kept mentioned anything about signing up for e-correspondence, any where, including in the fine print. Because I was able to provide all of this to Nelnet, I was able to convince them to give me the 3.3% principal reduction. Good luck to the rest of you having this problem - and for the rest of you judgmental folk who think you can stand on some higher ground because you supposedly read the fine print- please realize that when there seems to be a trend, there's likely some truth to that trend.

Has anyone had issues with Nelnet posting money to the wrong accounts? Between my husband and I, we have three accounts. Nelnet continuously posts all three payments to one account and then calls us repeatedly about "delinquent" accounts. We have been dealing with this for three years! Unbelievable that they are this incompetent.

SO WHEN ARE WE GOING TO FILE A CLASS ACTION SUIT?

I totally agree with the CRAP you have to put up with these people. I did not borrow from them but my loan was sold to them. WHat a headache since I and have been unemployment for the past two horrible years, I am scared to death about what is going to happen. They were a nightmare before when I was able to make monthly payments plus a little extra on my loan but now you can never talk to a live person and if write to them they don't respond. It seems like when I was paying the loan amount was going up instead of down. We need to find who is in charge in the government that over sees companies like Nelnet and start email them to invesigate this place. I was forced to have them as a loan provider would like to find someone else to handle my loan.

Regarding the Balance Incentive: Payments made during deferment and any "over" payments made, have a creative, deceptive way of advancing the due date of payments. After ~54 regular, monthly, on-time payments, I still have not received my incentive and the system has shown 28 on-time payments made for 3 months now.

I refinanced and subsequently made a final payment which they claim they couldn't apply because there were account number problems. ###. They just wanted to collect interest for however long it took me to figure out they didn't post the payment. Based on these posts it looks like I'm one of the lucky ones. I told them if they didn't see to it that the payment posts promptly I will gladly forward it to my state's Attorney General. This is our government taking your taxpayer money and mine and letting a sanctioned scam outfit (nelnet) screw over unsuspecting people.

I'm thinking about putting a facebook page together so we can try to get our documentation in order so we can do something. This company is a mess and there are too many people getting taken advantage of! Who is with me? I really want to go after thier practices and the politicians that suport them! LMK!

Nelnet has called me every day. They call me on my cell phone and home phone before 8:00 am.They told me i did not pay my full loan off before graduating, from the University of Phoenix On line College. I told them-the facts were not true. I have a copy of my final receipt from the school mark paid, owing them nothing.My husband paid the final balance off before .my degree in, for Associate of Arts in Business on, March 31, 2009. I ask them for proper documentation, they never delivered them. They call asking for information, over the phone and Internet. I refuse to give any personal information over the phone .

Hi All, I too have had negative issues with NelNet. My student loans grew instead of decresing even though I made the correct payments, etc... I also want to pursue a class action suit for fraudlent or deceptive business practices. Nelnet is not acting in good business faith. Please contact me at ClassActionNelnet@hotmail.com

I live in New York, and I experienced the same situation with Nelnet. I am in the process of taking them to the Supreme Court of New York. It is time for a class action law suit. I am not planning on settling outside of court. Hopefully, the court will decide on the case and that information will be available to all interested in pursuing a class action lawsuit. Legal costs up to eight thousand so far. I have the resource and I will see the case to the end.
Abe

Thanks, Abe...Nelnet is just a drop in the bucket of corruption, but I will certainly join your Class Action and thank you for initiating it and pursuing it.

They aren't any better with their employees investments, putting mine in a .05% money market account, when my stock was performing well.

They are horrible. I spoke with someone two months ago to make sure my loans would be paid off in 10 years. She walked me through the process on line. I just looked at the statement on-line and not only am I paying more, I have 257 more payments to make! That is a lot more than 10 years. This is terribly wrong. I have already paid 10 years!
Raquel

I have several loans with NelNet, but hadn’t been able to work, because I’m the full time Caregiver for my Disabled Vietnam Veteran Spouse. So I filled out Discharge forms 6X’s, and they told me that I had to be Disabled in order to qualify, WELL, if they read the definition of Disability, they would see I qualify. They say I can’t use his Disability, but they want me to use his money! So unfair! I can’t work, so how do I pay? Haven’t worked since 2011.

I have read the other complaints about Nelnet and have had the same experience. They do not allow extra payments to be applied to the principal. When I asked why, the response I received was "that's not how this loan is structured." I feel like I will be paying this loan off forever. Is Nelnet running a scam?

I too have been given the run around with these people. You get a different story every time you speak to someone.
They are aware that this is not professional or legal. CNN has investigated and found Betsy De Vos is behind this scam and has finally unblocked 15, 000 loans.
I suggest filing a compliant against these incompetent people.

I had a loan with the Department of Education Sallie Mae in 2009, the negative experience with Navient .And just now I recieved a letter form Nelnet, am not sure what is going on,

Today I received a letter from Nelnet, I started to search about them, I came through the negative reviews from 2009, just more worries.

I changed my account information on line to a new bank account, when you went into the account it showed my old account, click it to edit and it showed the new account. Nelnet then proceeded to take the payment out of the wrong account. This seems like their internal IT problem and they said it was my problem and wouldn't reimburse my overdraft when the payment came out of the wrong account.

Changed my account information on line to a new bank account weeks before next payment was scheduled. When you went into the account it showed my old account information, click it to edit and it showed the new account, no options available to submit anything further. I thought it would be fixed with verification of my new account on their system. Not so Nelnet then proceeded to take the payment out of the wrong account. This seems like their internal problem and they said it was my problem and wouldn't reimburse my overdraft when the payment came out of the wrong account.

Nelnet called for my 76 year old mother, wanting to speak to her about student loans that she had. Informing her that this call was being recorded for quality control, etc... The "lady" from Nelnet wanted my mother's Nelnet account number & date of birth. if my mother did not have that information than this "lady" wanted the last four digits of my mother's SS#..
My mother handed me the phone I spoke to this woman explaining my mother might not know her Nelnet Account information and I did not feel comfortable with giving out any part of my mothers SS#. This "lady" than began to try over talking me while I was trying to explain this to her. I finally had enough of this "ladies" rude actions and went off telling her I will hang up on her if she interrupted again. I than informed this "lady" after she shut up that she needs to send my mother the information she was requesting in writing and via regular mail. She was not happy with this, but said she would send the information to my mother and than I hung up on the "lady".

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When you say pay off the loan-

That significant of a change to your score may indicate that you went from 1 or few revolving accounts to zero or fewer accounts. As in the loan was paid off and then closed.

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Several attempts to contact Nelnet. I literally kept an open line from 8am Eastern Standard time to 3pm Eastern Standard Time. My account was verified online but still unable to access account. There is no tech support or live chat. There is no support. This is my 3rd attempt and I been on hold for over and hour please see attached.

I am having a similar issue. I signed up for Income Driven even one of their agents helped me do it and said I was all set and now I have a 2700.00 bill they just sent me . I was shocked and disappointed that they are not honoring the plan they helped me sign up for.

Ruth