Student loan -- Struggling to repay your loan -- Complaint #5187572
Complaint Overview
Complaint ID: 5187572
Company: Nelnet, INC.
Product: Student loan
Sub-Product: Federal student loan servicing
Issue: Struggling to repay your loan
Sub-Issue: Problem lowering your monthly payments
State: Alaska
ZIP Code: 99801
Date Received: 2022-02-05T12:00:00-05:00
Date Sent to Company: 2022-02-05T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
In 2007 XXXX XXXX and XXXX sent recruiters to high school classrooms giving them an air of legitimacy. I showed interest as a XXXX XXXX XXXX and was aggressively marketed to, including multiple calls during school hours. Many claims were made by recruiters about accreditation and legitimacy of degrees. Excited to have been accepted in to a school with an allegedly good reputation I took out a federal loan to pay for part of my education. I took out around {$30000.00} as a fresh new adult. In the more than decade after graduation I have gone from entry level job to entry level job. Barely being able to access health insurance. The XXXX XXXX that seemed so important had counted for very little and making even the lowest payments has been a challenge. My interest rates have left me with more than {$10000.00} more debt than I started with. Loan servicers have bought and sold the debt multiple times making it difficult to keep track of. I feel that I have been scammed and that the federal government has legitimized it. Even after XXXX and XXXX have been listed as bad actors this debt has grown and stunted my ability to take major milestones in life. I was further insulted when after organizing with other student to amass our stories and data to show this fraud we were denied in blanket denials from the department of education. These predatory loans and schools should not be accessible to high school students trying to make their lives better and follow the instructions put out by their peers and educators. I thought I was bettering myself not damning myself by getting an education.
Frequently Asked Questions
What is Complaint #5187572 about?
Complaint #5187572 was filed against Nelnet, INC. regarding Student loan specifically about Struggling to repay your loan. It was received by the CFPB on 2022-02-05T12:00:00-05:00.
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.