Student loan -- Dealing with your lender or servicer -- Complaint #7800026
Complaint Overview
Complaint ID: 7800026
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: Virginia
ZIP Code: 201XX
Date Received: 2023-11-03T12:00:00-05:00
Date Sent to Company: 2023-11-03T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
I am being charged almost XXXX dollars in INTEREST alone, per month after they put me in admin forbearance because they are still working on my repayment plan which I submitted months ago! When I call, I am constantly on hold for up to an hour before a representative pick up and every answer I received is " we are still working on it, contact us in 10 days ''. They are purposefully delaying the process in order to accumulate and compound XXXX dollars of interest per month!!!!! They are clearly dragging there feat to avoid the following policy of the SAVE Plan : " Outstanding interest is eliminated each month. Any interest you didnt pay was compounded back into your loan under the IBR plans, resulting in many people owing substantially more than they borrowed, even while making their assigned payments. That wont happen under SAVE since interest beyond the portion included in your payment no longer accumulates. ''
Frequently Asked Questions
What is Complaint #7800026 about?
Complaint #7800026 was filed against Nelnet, INC. regarding Student loan specifically about Dealing with your lender or servicer. It was received by the CFPB on 2023-11-03T12:00:00-05:00.
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.