Non-federal student loan Dealing with my lender or servicer trouble with how payments are handled
Nelnet Student loan department,
Non-federal student loan Dealing with my lender or servicer Trouble with how payments are handled Michigan
I 've been paying a student loan since -/-/-. The original total loan amount on -/-/- was $17000.00 ( $5800.00 & $11000.00 ). I was consisted through - - had some financial issues, my loan went into default, corrected that and by -/-/- was paying my loan consistently. Throughout my loan repayment, more money has been going towards interest than the principal. Prior to default in -/-/-, I paid a total of $7500.00. After default, my balance was $14.00, -. Payments from - through - has been $6000.00 and my outstanding balance on -/-/- was $14000.00 prior to a $200.00 payment. After this payment my balance is now $14000.00 more than it was after my default in -/-/-. Only $60.00 went towards my principal. Please help me get out of this situation. I 've paid a total of $15000.00 towards my student loan already and getting nowhere. It 's been 10 years of -, and despite unemployment, divorce, salary cuts, and now a child in college my loan is still not paid because Nelnet is not distributing most of the payments towards the prinicipal. If you look at the documents attached of screenshots, for some month nothing goes towards the principal or like last month only $1.00. Please help me, I work as a teacher, my salary has been slashed or frozen for the last 5 years, and currently - and now have a son in college. I have - a total of 3 years at a -. I 'm also very worried about saving for my retirement. This has been never ending and worrisome. During my default, I filed a complaint to CFPB and received assistance and would like assistance for this issue which contributed to my default.
Nelnet customer in Michigan
Mar 06, 2016
* Source: CFPB Complaint Database
Nelnet response to complaint:
Closed with explanation
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