Student loan -- Dealing with your lender or servicer -- Complaint #6165516
Complaint Overview
Complaint ID: 6165516
Company: Nelnet, INC.
Product: Student loan
Sub-Product: Federal student loan servicing
Issue: Dealing with your lender or servicer
Sub-Issue: Trouble with how payments are being handled
State: Ohio
ZIP Code: 43204
Date Received: 2022-11-04T12:00:00-05:00
Date Sent to Company: 2022-11-04T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
I made refund requests for my Dept of Education held loan on XX/XX/XXXX and XX/XX/2022 from Nelnet as provided for under the CARES act and was told I would receive refunds within 4-6 weeks. On XX/XX/XXXX, my loan balance was not updated on my Nelnet account and I had not received refunds and so called Nelnet for an update as previously instructed and was told that my refunds " were not even processing yet ''. When I asked for a date by which I *could* expect my refunds, the Nelnet representative stated they would take " two more months, but would be completed by some time in XXXX, by end of year ''. When pressed as to why the timeline of 4-6 weeks was given not once, but twice previously, and how the backlog could possibly affect requests made in XXXX when there was no backlog at that time, the Nelnet representative stated the system is overloaded with requests and that processing time has increased. On that same day ( XX/XX/2022 ) I filed a CFPB complaint asking that my refunds be processed by XX/XX/XXXX. On XX/XX/XXXX, as part of their official written response to my CFPB complaint, Nelnet stated that my refunds were waiting on approval by the Department of the Treasury. On XX/XX/XXXX and XX/XX/XXXX I called Nelnet again and was again told they were waiting on approval by the Department of Treasury. On XX/XX/XXXX I called and spoke directly with the Department of Treasury Fiscal Bureau who explicitly denied that the Department of Treasury had ever received refund requests for my accounts and they said that refunds are solely the responsibility of and processed by loan servicers, and the ony approval is by the Department of Education, never the Dept of Treasury. I immediately called the Department of Education Federal Student Aid Office and they confirmed what the Dept of Treasury had said. I then in turn called Nelnet and spoke with a XXXX XXXX in the Nelnet Solutions Department, who reviewed the CFPB response and said that the information in the CFPB response letter from Nelnet was wrong and the Department of Treasury is in fact NOT who approves refunds. XXXX also confirmed that my refund are still sitting with the Nelnet accounting department XXXX weeks after the refund requests were made.
Frequently Asked Questions
What is Complaint #6165516 about?
Complaint #6165516 was filed against Nelnet, INC. regarding Student loan specifically about Dealing with your lender or servicer. It was received by the CFPB on 2022-11-04T12:00:00-05:00.
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.