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(Ep. 287) Big Nelnet Problems and Summer Updates

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Listen in as I answer questions from our mailbag, discuss the peculiar happenings at Nelnet, and provide updates on where we stand with student loans in May. We’ll start with listener questions about the $12,000 10-year forgiveness option, Parent PLUS loans, and income-driven repayment (IDR) recertification dates. You’ll also hear about summer updates like sweeping forgiveness programs, lawsuits trying to block student loan forgiveness, and how the upcoming presidential election could change your student loan payment.
In today’s episode:
✅ Can borrowers get two kinds of forgiveness with one Direct Loan consolidation?
✅ Will the Parent PLUS double consolidation loophole kick borrowers off the SAVE plan?
✅ Does early IDR recertification change your recertification date?
✅ What to do if your Parent PLUS payment is more than you can afford
✅ Nelnet stopped consolidations, causing concern and delays
✅ The Department of Education should either fund or fire MOHELA
✅ Student loan policy depends on political control
✅ The FAFSA fiasco and speculation on resignations
✅ Summer updates: forgiveness, lawsuits, and student loan policy
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Legal: Student Loan Planner is a financial coaching company and does not claim to provide financial advice on investment products. Refinancing federal loans causes the borrower to lose access to income-based repayment plans as well as the PSLF program. We may earn compensation from advertising partners when you click on links on our site. Student Loan Planner is not a debt settlement or debt relief company. We do not provide tax or legal advice.
#Nelnet #StudentLoanPlanner #StudentLoans #StudentLoanForgiveness

Опубликовано:

21 авг 2024

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Комментарии : 16

@shukrutav 2 месяца назад

Hey, Nelnet is my loan servicer and I've definitely had plenty of issues with them. I graduated in May 2023, I applied to SAVE on September 15. Nelnet continued applying administrative forbearance to my loans for over 120 days. Finally in January 2024, Nelnet processed my SAVE application but my payments wouldn't begin until Feb 26th. That's 164 days from the SAVE application date, which accrued over $21,500 in interest. I've submitted three complaints on Federal Student Aid and I submitted a complaint on Consumers Financial Protection Bureau seeking resolution on this matter. Am I on the hook for $21,500 due to Nelnet's own processing delays? I'm at a loss on what to do

@mapguy32 2 месяца назад

How are your loans accruing $2600 of interest each month? That must be a huge loan balance.

@bryantbarnhart3631 2 месяца назад

I've called them about the same issue. What's more is that NelNet is NOT cancelling remaining interest under the SAVE plan as they are supposed to. After several phone calls I was told by NelNet "this is not how the program works, in reality" with no explanation as to what that means. They're continuing to compile interest against federal law.

@vmarsfiles 2 месяца назад

If you graduated May 2023, you are automatically placed in a 6 month grace period. You can not waive this grace period. Your September application for SAVE will not process until closer to the end of the grace period when repayment begins.

@aap2310 4 дня назад

Yes you probably are. This is all a big scam.

@gif24gt60 2 месяца назад

Any benefits for in-school deferment students?

@aap2310 4 дня назад

I can't create an account

@tvelezvc Месяц назад

exactly! This Department will be controlling a lot of loan discharge programs

@summerbeauts 2 месяца назад

I’m planning to start the double consolidation process next week and mail my consolidation forms to Nelnet and MOHELA. I sure hope Nelnet accepts and processes it. Maybe it would be a good idea to hold off on sending the other paper form to MOHELA until I hear back from Nelnet? thoughts?

@neilfleisher4213 2 месяца назад

I am in the process now of the double consolidation, without Nelnet I only have Mohela as an option. Thoughts?

@tvelezvc Месяц назад

sounds like the Department of Education is where people who took out FEDERAL loans should be talking to. Services do what they are told by the Department of Education. The government OWNS those loans

@christophergreen4616 Месяц назад

Nelnet is one of the main customer service options regarding federal direct loan and FFEL program loans. If you have to make contact regarding questions about federal school loans (most of them), the Department of Education is going to direct you to Nelnet.

@tvelezvc Месяц назад

Talk to the DEPARTMENT OF EDUCATION about Loan Consolidations

@christophergreen4616 Месяц назад

While you can apply for consolidation through the department of education, the servicer is not up to you. The servicer will be the company that currently has a contract with the government, like Nelnet. Thus, most likely federal stuff on student loans and consolidation may run through Nelnet.

@lindamurray6247 2 месяца назад

Hi I consolidated all our Parent Plus Loans into one ICR loan about 5 years ago when I retired. I’ve been told this is not eligible for the SAVE plan. Are there any other ways to lower my monthly payments?

@redpill-finance 2 месяца назад

Commodities continue to rip face as rates are way to low… we have bigger issues in this debt based ponzi than student loans. If Trumpzuela starts printing more stock up on food, medicine and ammo