Date Received: 2016-08-02
Issue: Dealing with my lender or servicer
Subissue: Trouble with how payments are handled
Consumer Complaint: XXXX college went out of business and loss there accreditation, so now im stuck with {$20000.00} in loans. I 've been trying to get this resolved but Nelnet wont tell me how to get my loans discharged. Plus XXXX college was sued by the Colorado State general and the college is supposed to be paying back these loans, but know one knows how this is done.
Company Response:
State: CA
Zip: 90220
Submitted Via: Web
Date Sent: 2016-08-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-07-30
Issue: Dealing with my lender or servicer
Subissue: Received bad information about my loan
Consumer Complaint: In sum, the loan servicing companies ( Direct Loans, and VSAC ) have materially misrepresented, on arecurringbasis, therepayment options, terms, and total costs of the various repayment optionsavailable to me over the course of the last several years. As a result, the principle has been increased by approximately {$14000.00} since XXXX ( with a $ XXXX remaining balance ) and the Public Service Loan Forgiveness program ( PSLF ) I should be entitled to is denied to me. Since loan servicing companies are compensated as apercentageof loans under management, they havebenefitedby the harm they have done. I am a XXXX. In order to get my XXXX degree, I obtained Federal Subsidized, and Unsubsidized loans. Additionally, I signed for my youngest son 's loans for college. I took out Parent Plus loans for my son 's college education from XX/XX/XXXX-XX/XX/XXXX. Loan repayment on the Plus loans began approximately XX/XX/XXXX. The original loan servicer, Direct Loans, instructed me to consolidate all of my loans ( Subsidized, Unsubsidized, and Parent Plus ) XX/XX/XXXX and placed on a Standard Repayment Plan. No other repayment plans were discussed at that time although available ( discussed below ). At or around XXXX XXXX, I called Direct Loans ( " DL '' ) because the payments had become too burdensome. At that time an agent for DL recommended the Graduated Repayment plan, which I agreed to and went into effect on XXXX XXXX, XXXX. In XXXX XXXX, I called Direct Loans again because the payments became too burdensome. A DL agent recommended I go on an income based repayment plan ( IBR ). The IBR program kept her payments manageable, and qualified for the Public Service Loan Forgiveness ( " PSLF '' ) program. I took both recommendations. This was the first time the PSLF program was ever discussed with me, despite the program 's inception in XX/XX/XXXX. My payments on the IBR program began in XXXX XXXX. Under the PSLF program, if qualifying persons make 10 years of on-time payments then the balance of the loan is forgiven tax free. Participation in this program must be renewed by application annually to the loan servicing company. The application is reviewed for eligibility, the payment is recalculated to reflect any changes in income, and a new payment scheduled is issued. The fact that I am a qualified person for the PSLF program is not in dispute. As a condition precedent to the PSLF, the qualified person must make 120 payments in a " qualifying repayment plan. '' The IBR program is a qualified payment plan for the purposes of PSLF. XX/XX/XXXX, Direct Loans went out of business and the loan was transferred to VSAC, another Federal Student Loan Servicer. At the time the loan was transferred, I was on the IBR repayment plan for 8 months. I continued her payments after VSAC obtained control of my loans. In XXXX XXXX, VSAC reviewed the IBR application. In XXXX XXXX, my IBR was renewed and the payment was increased to reflect my increased income over the prior year. The program was renewed again XX/XX/XXXX, and again the payment was increased to reflect my increased income over the prior year. As a result of a random audit XX/XX/XXXX, VSAC discovered a processing error and realized that due to the types of loans consolidated XX/XX/XXXX, I am in fact not eligible for the IBR program. Under Federal Student Loan Guidelines, a person with a consolidated loan that includes Plus loans is not eligible for IBR repayment. VSAC has determined, confirming with unknown persons at Federal Student Aid, that the first 3 years of payments will be able to qualify towards the 10 year PSLF. Around XXXX XXXX XXXX VSAC, without authorization, placed me into a standard-extended plan. The monthly installment is {$700.00} for a term of 316 payments. That represents a period of 26+ years. I am currently XXXX years old.
Company Response:
State: NY
Zip: 11563
Submitted Via: Web
Date Sent: 2016-08-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-07-29
Issue: Dealing with my lender or servicer
Subissue: Trouble with how payments are handled
Consumer Complaint: I had federal loans and they were sold to a group called Nelnet. Nelnet continually loses my paperwork. Every time I send them my paperwork ( and this is the third time ) it mysteriously vanishes. They send me an email or something in the mail telling me I have an outrageous amount of money due. I call them, fill out the paperwork again, and work out ( or, at least, I thought we had worked out ) a reasonable payment plan. I 'M POOR. I do n't make much money and want to pay my loans back. But Nelnet keeps pulling this - and they 've done it again! I 've sent them my tax information for the third time now and they told me they 'd put me in a payment plan around {$100.00} per month. They just sent me an email saying my next payment would be over {$2000.00}. This is obscene.
Company Response:
State: NJ
Zip: 083XX
Submitted Via: Web
Date Sent: 2016-07-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-07-29
Issue: Dealing with my lender or servicer
Subissue: Trouble with how payments are handled
Consumer Complaint: Hello, I 've been trying to pay off my student loans. Every month I pay about XXXX extra on my highest interest loan. I always check the " do not advance due date '' check box. For months, this has allowed me to make the payment for the month and apply the rest of the payment to principle. Yet, when I made my payment this month, I logged in and found out that I still was expected to pay my payment for the month again. I called to talk to a representative and she said that " They have no explanation why the payment system is not working correctly ''. She also said " it 's being " wonky '' this month '' and could give no further explanation. She then said I should pay my payment again this month ( while having no explanation as to how this would affect my interest accrued ) or that I could have my payment deferred into the next month because the system was being wonky. I do n't feel that this is an adequate explanation and I have no reassurance that my payments are being applied correctly. If I had n't logged in early this month I would have had to pay additional interest and penalties. It 's not my job to debug their IT systems and I would like an explanation and some reassurance that my account is n't being overcharged. I also do n't feel I should have to constantly log in to make sure that their system is n't being " wonky '' and making me make additional payments that I do n't owe. She also tried to blame it on me for checking the " due not advance due date '' checkbox, but that still means I 'm making the payment for the month. It just does n't apply it 3-4 months out when I pay extra towards the loan. Thanks.
Company Response:
State: MN
Zip: 55422
Submitted Via: Web
Date Sent: 2016-07-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-07-29
Issue: Dealing with my lender or servicer
Subissue: Trouble with how payments are handled
Consumer Complaint: I am with a loan servicer for over 4 years, and I trust and like them. They are now switching me over to XXXX which is a subpar loan servicing company. I belong to many credit forums where we share credit tip and discuss products and anything credit related. This company is known for mishandling student loans, and has a XXXX star rating with the XXXX and my current loan servicer VSAC has almost a XXXX star rating. I find this to be terrible for myself and my future. I am told I have no recourse in which student loan servicer I have which makes no sense to me. I do not want my loans to be serviced by XXXX. Is there anything I can do to prevent my loans from being transferred?
Company Response:
State: PA
Zip: 170XX
Submitted Via: Web
Date Sent: 2016-08-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-07-27
Issue: Dealing with my lender or servicer
Subissue: Trouble with how payments are handled
Consumer Complaint: I was told loan was discharged in BK in XXXX. Now Nelnet is reporting negative to my credit report. In fact they were inaccurately reporting that i my student loans were in bankruptcy as of XXXX XXXX. They have since corrected that error, but now report that i am 90 days plus delinquent. I never received a notice due, late notice or anything from Nelnet. I spoke with Nelnet and they advised they had n't contacted me since XXXX XXXX and even then it was at wrong address eventhough my info is correct with the bankruptcy. Nelnet is inept and i should not be damaged because of their inadequacies. Their inaccurate reporting dropped my score over 70 points and cost me a job that i was offered. On the day i was supposed to start they pulled my credit and because of the score falling below minimum requirements i lost the job. I have since applied again and have been approved for a deferrment due to no income. I cant pay back a loan without a job and i cant get a job if nelnet wont correct their errors and take responsibility for their deficiencies. i.e they did not update their address, they did not properly filed the bankruptcy notice and they reporting bad info to credit report
Company Response:
State: VA
Zip: 23451
Submitted Via: Web
Date Sent: 2016-07-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2016-07-27
Issue: Dealing with my lender or servicer
Subissue: Received bad information about my loan
Consumer Complaint: I completed a loan rehabilitation program over 9 months. Most of my loans have come out of default except for XXXX. I was told that they are not eligible and now I have to pay the past due to get them current. Over 3k. I 'm working on my credit score and Nelnet will not work with me. I did my due diligence in their program. Please help if you can.
Company Response:
State: CA
Zip: 93635
Submitted Via: Web
Date Sent: 2016-07-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-07-26
Issue: Can't repay my loan
Subissue: Can't decrease my monthly payments
Consumer Complaint: In XXXX of XXXX I enrolled in classes at the XXXX XXXX XXXX XXXX XXXX Division. I took out student loans in order to get a XXXX. When discussing attending the school with the admissions advisor I was pressured to sign up as quickly as possible. I was offered a {$100.00} book voucher and waived application fee. I did not immediately cave in to the pressure, instead I took a couple of weeks to think things over and make sure I knew what I was getting into and making the right decision. Over those couple of weeks I was in contact with the admissions and financial aid advisors. I explained my financial situation ; married, XXXX XXXX XXXX, with a young child, a mortgage, lots of debt. I thought their job was to guide me through this process. I trusted them. I did n't know that I needed to mistrust everything they said as if they were a used car dealer. I told them I could only go back to school if I had no out of pocket expenses during the time I was attending school. Once I graduated and got a better job, then I could pay. But with my current bills and current low paying job there was no way I could afford anything out of pocket. I was assured I would pay nothing out of pocket. I enrolled. in late XXXX I began receiving bills for tuition. I sent the financial aid department many emails and placed many phone calls. All were ignored. It took months to get answers. Finally in XXXX XXXX I was told that I had hit the Federal Aggregate Loan Limit. That was my first time hearing that term. Apparently there was a limit to what could be borrowed, meaning that the initial advisors in XXXX were not truthful with me. I was told at this point that I would need to pay out of pocket or get personal loans. I attempted to get personal loans to finish the degree that I was about XXXX of the way through. I was denied by every bank I tried because I had too much student loan debt. I was forced to withdraw. I would 've never enrolled in the school had I known this information up front. Now I owe {$70000.00} for a degree I could n't even finish and I will never be able to pay that back. Due to this situation, I ended up with XXXX and was hospitalized twice, once for 1 day and another time for 3 days, due to severe anxiety attacks. I had to go on anti-depressants so I could function on a day to day basis. All because the XXXX XXXX lied to me to get me to enroll. I have {$70000.00} in student loan debt and have run up credit cards paying for the hospital stays, doctor visits, and prescriptions. I am so much worse off than I was before enrolling in college. I thought I was making a good choice for my life by choosing to go back to college. Now I see it as the worst decision of my life. I ruined my life. They ruined my life. So much for the American Dream. I have no faith in our government any more since it seems that the XXXX is complicit in allowing for-profit schools like XXXX XXXX and others to prey on students like me and use us to steal our Federal aid dollars.
Company Response:
State: FL
Zip: XXXXX
Submitted Via: Web
Date Sent: 2016-07-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-07-25
Issue: Dealing with my lender or servicer
Subissue: Received bad information about my loan
Consumer Complaint: When i was in defualt i was called and said if i do the rehabilitation program it would remove all information regarding my past negative student loan information reported to all XXXX credit agencies. The guy on the phone insisted this would happen and siked me all up about it i did default on my loans from nelnet. And now navient purchased my loans. And neither one is claiming anything would be removed only tge status will change to transfer. This is really misleading. I was under the assumption this would be removed and a year later still there. I think they need to stop promising this to people and get there money when they get there money. Im still paying everymonth on time but its just making me want to say forget this get your money when I die. I have other larger problems like taxes i have to take care of. Something should be done they should not be able to say that to people. I was hoping it would better my financails and i could get a good interest loan to help consolidate my debt then eventually buy a house some day.
Company Response:
State: OR
Zip: 97030
Submitted Via: Web
Date Sent: 2016-07-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-07-25
Issue: Dealing with my lender or servicer
Subissue: Don't agree with fees charged
Consumer Complaint: I was unemployed for approximately 6 months without income in 2014, and during this period my studend loan interest was accruing, and I was not aware I could have this deferred. I have tried to retroactively defer the accrued interest, but he debt collectors say nothing can be done. Please advise. Thanks
Company Response:
State: NY
Zip: 11106
Submitted Via: Web
Date Sent: 2016-07-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes