- Report: #698287
Complaint Review: nelnet - Internet
Reported By:
Johnny -
Cashion, Arizona, United States of America
Submitted:
Updated:
-
Author Not Confirmed
Why?
nelnet
P.O.Box 82561 68501-2561 Internet, United States of America
Phone:
1.888.486.4722
Web:
www.nelnet.com
Categories:
Business Rating:
(0)
Tell us has your experience with this business or person been good?
nelnet nelnet is an ripoff company indeed. unethical loan practices. Internet
trying to payoff my student loan but this company takes my payments towards fees and interest instead of the principal.
i double my loan payments to payoff quickly but it reads in their website that my next payment is due next year but i owe them about 60 dollars today.
when i pay more they charge more in interest and fees. i gave up trying to contact them. this is probably the same for anyone with a student loan taken over by nelnet.
please help, i want justice.
i double my loan payments to payoff quickly but it reads in their website that my next payment is due next year but i owe them about 60 dollars today.
when i pay more they charge more in interest and fees. i gave up trying to contact them. this is probably the same for anyone with a student loan taken over by nelnet.
please help, i want justice.
3 Updates & Rebuttals
TheCreditor
INDIANAPOLIS,Indiana,
United States of America
Please Review Your Promissory Note
#2UPDATE EX-employee responds
Thu, June 23, 2011
You can pay ahead 'til the stars come home. You have no pre-payment penalty.
Your complaint/consumer suggestion is common among people that don't know up from down. Any payment you ever make above the outstanding interest and late fees always goes to principal. Please note that no special request from you is needed or welcome.
Have a flawless evening.
TheCreditor
INDIANAPOLIS,Indiana,
United States of America
Here's how you do it
#3UPDATE EX-employee responds
Thu, June 23, 2011
They're required by federal law to advance your due date, when you pay more than minimum. It is common for people that don't understand student loans to think that a "paid ahead" status doesn't reduce their principle/interest/total amount owed. As of the day they got your payment, they applied it first to late fees/attorney fees/collection costs, then interest, then principle. There is no secret account hiding up there for future payments to be held unto. Once their late fees and interest are covered there is no place for your payment but principle. I hope this knowledge empowers you to make a wise choice.
Steven
Jacksonville,Florida,
U.S.A.
When did you take out loan? Are you still in school?
#4Consumer Comment
Fri, February 25, 2011
Not sure if I understand the problem or not. Did you take out an unsubsidized student loan?
Sounds like you are just being sent a statement with the current interest .
From what I remember I was sent a statement with the quarterly interest. Paying this interest was optional and not was not required (but didn't hurt to pay it anyway).
You can pay them more than 60 dollars if this is the case and that amount would go toward the principal.
