Student loan -- Dealing with your lender or servicer -- Complaint #16224610
Complaint Overview
Complaint ID: 16224610
Company: Nelnet, INC.
Product: Student loan
Sub-Product: Private student loan
Issue: Dealing with your lender or servicer
Sub-Issue: Received bad information about your loan
State: Pennsylvania
ZIP Code: 190XX
Date Received: 2025-09-27T12:00:00-05:00
Date Sent to Company: 2025-09-27T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I initially sent a letter to firstmark services in early XXXX requesting the opportunity to negotiate a settlement for my private student loan due to extenuating circumstances and needing to go on XXXX. They responded back to me that this was illegal and therefore not possible. I know this is incorrect. I asked them to clarify multiple times on emails sent on XXXX XXXX and XXXX and received the same general response of, " We are a private loan servicing company. As a servicer, we act on behalf of our lenders to provide billing, payment processing, and customer service. Were unable to change the terms of your promissory note.We are unable to negotiate or compromise the total amount owed on your student loan. We must abide by applicable federal laws, regulations, and loan agreements. These require a borrower to repay the full amount of the principal owed plus any interest and other associated costs. '' This is concerning because the information they are sharing is inaccurate and they refuse to provide any additional information to support their claims even when I spoke to a supervisor on XX/XX/XXXX. I sent evidence to support my concern, " The * Consumer Financial Protection Bureau ( CFPB ) * states that private student loan borrowers may negotiate repayment arrangements directly with their lenders or collectors. * * Bankrate * confirms that private student loan settlements are legal and often handled directly with lenders, without federal involvement. * Legal resources such as * Student Loan Borrower Assistance * note that negotiation is a recognized option for private loans, even if it is not always advertised. '' They still sent the same general response. I ask for assistance because many people do now know this is something that can be discussed escpecially in times of great hardship. Referring to negotiation as going against " federal laws and regulations '' for a private student loan is misleading, dishonest, and fraudulent. After reading reviews I understand I am not the only person this happened to.
Frequently Asked Questions
What is Complaint #16224610 about?
Complaint #16224610 was filed against Nelnet, INC. regarding Student loan specifically about Dealing with your lender or servicer. It was received by the CFPB on 2025-09-27T12:00:00-05:00.
How did Nelnet, INC. respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Student loan) and describe your issue in detail.
Can I see other complaints against Nelnet, INC.?
Yes, visit the Nelnet, INC. company profile at readthecomplaint.com/company/nelnet-inc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.