Nelnet Delaying Payment Processing to Accrue More Interest - Feb 28, 2016
Nelnet is taking days to process payments I believe to earn more interest money. Generally if a payment is made on the weekend it won't be processed until the next business day.
With Nelnet however, it doesn't matter what day you pay it still takes up to 3 or 4 days to process. In the meantime the loan is still being charged interest each day. At that rate I'll never pay off the loan because I'll always being paying the interest during the period it took them to process the payment. Also, Nelnet's monthly interest charge fluctuates each month.
One month it's $28.00 and the next it's $14.00. This company is ripping people off and the U.S.
Department of Education is allowing it to happen.
Reason of review: Order processing issue.
Preferred solution: Deliver product or service ordered.
Location: Florida, United States
Thank You for Your Reply! We are processing your message.
Comments
Please avoid publishing any personal information and promotional content
I have the same issue
You should aply for inccome repayment plan 0% pay and interest for.a year. At which time you an pay withhout interest acruing. Only applies to subwd loans thou.
This is true
I paid 320 on April 1 2016 payment received before 2 pm not processed until 4/4/28016. Also sent a payment visa of 200 called in received confirmation yet nelnet still has not processed that payment
Betty Hahn