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Nelnet first cancelled my auto-payment for my loans I had set up without informing me.I saw that no money was withdrawn from my bank account.

I called to correct it and they first blamed me for missing some mail that I never received. Then they forcibly placed me into forbearance which kicked in a higher interest rate on my loans.

Despite my having an immaculate payment history and repeatedly telling them that it was them who cancelled the auto-payment, they are not going to lift the forbearance status for at least a month resulting in my paying higher interest rates. Bunch of sleaze-bags.

Can't wait to payoff my loans so I can get rid of these leeches.I don't know why the government allows this unethical company to service our loans.

Review about: Nelnet Account.

Monetary Loss: $50.

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Anonymous
#776187

first, forbearance doesn't cause higher interest rates, they are fixed by the dept.of Ed when you sign your MPN (master promissory note).

second, you absolutely cancel a forbearance at any time, but you would have to be willing to pay, in full, the payments that were due during the time of the forbearance.No loan servicer is going to remove assistance from an account to leave it past due and affect your credit.

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