I had called Nelnet # at 888.486.4722 and requested a payoff on my student account. I asked if a prompt payment discount applies when money sent within a week. Was told no that the department of education will only consider full amount. I tell the rep that I will send a payment within a week. She gives me a payoff amount and when asked if a zero dollar letter will be sent to me once the payoff is posted via mail she stated yes within 30 days. A week later a small principal balance of $5.06 is still lingering on the account. I called again and ask to speak to a supervisor. Shandra, the account manager representing Nelnet said that the rep only gave you the balance due on the date of the call. I asked that the rep be placed on a conference call and that the call from the week before be re-listened to. She told me oh don't worry you know, the department of education will probably write that amount off. I was very concerned because the due date on this small principal balance is 08/24/2024 and that the interest rate that it would accrue at 3.40% for a group E load would bring the balance to several thousand dollars before anybody from the department of education bothered to write it off. Therefore I made yet another payment online on 03/29/2018.
I also had some concerns from mid year in 2017, month of June, July, August when the monthly balance on the online login would vary by a good thousand and higher from the previous month. I emailed today 03/27/2018 the commissioner of the department of education here in Florida with the hopes that there would be an investigation on Nelnet and their internal customer service or loan administration policies as well an individual audit of my student load account E864124787.

Hi Other Disgruntled Nelnet Student Loan Consumers,

I have had my loan payable since 2009. I too noticed issues with the 'interest payment'. I have not calculated using a spreadsheet but soon will. I started with about $60,000.. made extra payments and on-time monthly payments, etc... I currently seem to owe $56,000. Something is wrong.. 4 years only $4,000 decreased & I made over $1300 in extra principle payments with monthly payments over $350?

I have talked to Nelnet reps several times about not applying pre-payments correctly and about the 'charges'. Each timethey reply, "We will investigate and fix it". They have yet to do so. I am thinking that a class action law suit will be needed about these 'interest charges' and the way Nelnet applies payments.

Email me if you are interested in a class action based on for fraudulent or deceptive business practices. Nelnet is not acting in good business faith. I have an attorney in mind to contact, so I set up an email account [email protected]

Just want a fair deal!