Nelnet

I would caution anyone trying to pay your own way through college to use anyone else, anyone. Nelnet requires Floridan students to pay half of your total balance before they 'take a credit risk' and buy your entire debt from the school and require payment to them. This isn't credit, this isn't a student loan help organization. This is a loan shark, who are happy to terminate agreements without contact via phone, text, personal email, or school email. The first communication you receive is a reciept (so far, so good?), then a reminder for the first payment. All good stuff. Then a second reminder for the second payment (out of 4 payments, this one is the halfway point, and so therefore critically important). In my case, the first payment went through fine, and the card was a little lower than the amount. Where a typical company, bank, organization, or Human being would reach out, email, call you, call the other person listed as a trustee on the agreement, or call the school, Nelnet does not feel the need to waste a moment, and terminates the agreement. This would normally be okay(ish) - lawful at least - but in my case, dumped $1000+ debt on me, payment required by my school immediately in order to not be immediately deleted from all classes. If you happen to be in the midst of graduation applications, please note that you can not graduate if you have any debt on the account, so if your deadline falls squarely in the week you'll be scrambling to sell anything you have to make that payment, you will be barred from graduating. Not that this review will serve any purpose now, at least some prospective student doing a little research before signing a contract may see this review and at least take the proper percautions. No one will let you know before you sign the terms and consequences so eloquently, if I do say so myself. Don't forget to follow up with them afterward, as they will take their time in refunding what you already paid them to your school, as is the case now. Good luck.

For my very first student loan repayment, they day after my Auto Debit, my account displayed, "Past Due". So, I tried to contact them but they just kept replying like a robot with, "it takes 2-4 days to post". So I made a one time payment that I expected to pay for that month. It was updated today (3 days after the scheduled Auto Debit), and shows that they put my one time payment towards the next month's payment, which is not what I submitted for. When I contacted customer service, they again just kept replying, "it takes 2-4 days to post" and told me to call in to request to undo the payment and receive a refund. This issue also allowed me to realize that they put my entire first payment towards the interest only, none of it went towards the actual loan balance, that is not what is stated nor was described via the repayment plan, it clearly shows that the majority of it should go to the balance. Nowhere does it state that the first payment entirely goes towards interest.

Nelnet is not very easy to work with. But that's probably true for all the student loan companies. Their website is easy enough to use when it comes time to make payments, but it becomes trickier if you try to pay extra. The default is to "apply" it to the next payment, rather than going to principle.

absurdly unprofessional inconsiderate rude and incompetent