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Hi, you are correct. This is impacting your score as ontime payments is one of the highest factors. Are these federal student loans or a private student loan?
Here are a few things to keep in mind. Not all representatives are aware of all of the policies of the company, and likely the reason why the rep you were speaking with didn't provide you a full answer about the late payments. Secondly, please understand, most servicers identify it as the loan holder's responsibility to make sure the loan is in the right status.
Now, even with that said, I do think the documentation that was provided is a step in the right direction. It would be either that, or a letter into Nelnet explaining the situation. I recommend you getting enrollment information from your university to display the dates that you were enrolled and your enrollment level (i.e. less than half time, half time, or full time). Use this information along with the document you were sent, or a letter explaining that you were enrolled at this time, so should have been on an in-school deferment.
If a federal student loan, typically it's easier because there are regulations in place that indicate the loan does not have to be repaid during an in-school deferment, unless of course the student requests the loan to be in a payment status.
Private student loans don't hold as true to the same requirements, as usually after 5 years, most private student loans come due no matter if you are in school or not.
@Anonymous wrote:
They're all federal loans. I may try calling again today to see if I get another rep over the phone and see if they can acknowledge their own mistake. But with nelnets history, probably not. I cannot even tell you how bad my dealing with nelnet has been over the phone and in writing. When I first got to repaying them, I saw that they accrued interest from the start of the loan in 2010. I sent them numerous letters to remove the interest because interest should not be charged if I was in school deferment. Some reps claim that I was on hardship forbearance and others say they can see my in school status but again don't have any way to remove the interest accrued for 7 years because "it's a long period of time that I need to pay interest for" verbatim from one of the letters. I'm not even sure **bleep** that even has to do with my situation or the fact that i shouldnt have been accruing interest while in school. My loans for 7k are now at an 11k balance with me paying an extra 100 every month for the past year. Anyhow I've lost that battle already and I'm sure since I'm paying it down they aren't going to do a thing about it. I've even said I'm willing to PIF one of the original loan balances if they remove the interest by nope. Here's to hoping this form gets me going. I'm also going to give them my official transcript and attach a letter as well as my schedule for the July-Aug timeframe. I'll shoot the CBs a call also to see if me disputing with them would have better success.
Deep breaths. We can break this down into smaller manageable chunks so that you can get some long sought after resolution.
Lets start with the interest. Interest DOES accrue for student loans, even if they are on in-school deferement. The only exception to this are government Subsidized loans. With a subsidized loan, the government pays your interest while in school. Otherwise, your interest accrues and is compounded (added to the original balance) once you enter repayment. This is the case for everyone's loans, and the rates are regulated by Congress, not Nelnet.
I recommend checking the National Student Loan Database. It can provide you details on which of your loans are subsidized (interest paid by the government while deferred), and which are unsubsidized (interest captialized).
Getting back to your original post. Have you done your due diligence? Typically inschool deferements are reported through the National Student Loan database as your current school status. To qualify for a deferrment at most universities, you have to be at least half time. If you are certain that your loans should have been deferred at that time, contact the university, get proof of continuous enrollment at that time and send it along with the letter to Nelnet. You can then await their response. In my experience, when proper documenation is provided, typically it resolves the issue. I would be interested to know how this worked out.
@iowe wrote:
I totally understand and have had nothing but a bad experience dealing with nelnet. They are the worst. They reported bogus lates on me on loans that were paid via auto-pay every month. I made sure they were paid. Complete incompetence over there.
It's certainly no fun having incorrect information reported, especially when it deals with something like credit which has a major impact on the ability to get good rates with other institutions. Were you able to provide bank records to Nelnet which clearly identified they had received ontime payments for the installments in dispute? Like I mentioned to the OP, it's been my experience that a little leg work on the side of the customer to get proper undisputable paperwork goes a long way and typically resolves issues like this.
Yes they're all federal subsidized loans.
I ended up calling nelnet again today and got a rep that seemed to acknowledge the issue and claim he sees verification from a supervisor that the late payments were inaccurate. He said he's putting in a request to have them deleted. I also had him verify the loans are subsidized and the interest rates along with how much was cumulative to the balance within the 2013-2015 timeframe. He was surprised (or at least acted and sounded surprised) to see how much interest was added on and confirmed the status to be in school deferment with no interest accumulating for that time. Unfortunately he said his hands were tied on that and he'd have to get a supervisor to oversee and review that but he claimed to put a remark for someone to look into it.
I did get thenough form dropped off to my school but couldn't get it filled right away so I'll have to wait a few days. Either way, I think I finally got the right rep on the line but we'll wait and see. I'm going to submit all their documentation along with my own (transcript, grades, and schedule) just to follow up thoroughly.
This is my first time actually addressing this issue and in the past I've just been attempting goodwill. So I'm hoping I see some positive results from this.
@Tazman81 wrote:
@Anonymous wrote:
They're all federal loans. I may try calling again today to see if I get another rep over the phone and see if they can acknowledge their own mistake. But with nelnets history, probably not. I cannot even tell you how bad my dealing with nelnet has been over the phone and in writing. When I first got to repaying them, I saw that they accrued interest from the start of the loan in 2010. I sent them numerous letters to remove the interest because interest should not be charged if I was in school deferment. Some reps claim that I was on hardship forbearance and others say they can see my in school status but again don't have any way to remove the interest accrued for 7 years because "it's a long period of time that I need to pay interest for" verbatim from one of the letters. I'm not even sure **bleep** that even has to do with my situation or the fact that i shouldnt have been accruing interest while in school. My loans for 7k are now at an 11k balance with me paying an extra 100 every month for the past year. Anyhow I've lost that battle already and I'm sure since I'm paying it down they aren't going to do a thing about it. I've even said I'm willing to PIF one of the original loan balances if they remove the interest by nope. Here's to hoping this form gets me going. I'm also going to give them my official transcript and attach a letter as well as my schedule for the July-Aug timeframe. I'll shoot the CBs a call also to see if me disputing with them would have better success.Deep breaths. We can break this down into smaller manageable chunks so that you can get some long sought after resolution.
Lets start with the interest. Interest DOES accrue for student loans, even if they are on in-school deferement. The only exception to this are government Subsidized loans. With a subsidized loan, the government pays your interest while in school. Otherwise, your interest accrues and is compounded (added to the original balance) once you enter repayment. This is the case for everyone's loans, and the rates are regulated by Congress, not Nelnet.
I recommend checking the National Student Loan Database. It can provide you details on which of your loans are subsidized (interest paid by the government while deferred), and which are unsubsidized (interest captialized).
Getting back to your original post. Have you done your due diligence? Typically inschool deferements are reported through the National Student Loan database as your current school status. To qualify for a deferrment at most universities, you have to be at least half time. If you are certain that your loans should have been deferred at that time, contact the university, get proof of continuous enrollment at that time and send it along with the letter to Nelnet. You can then await their response. In my experience, when proper documenation is provided, typically it resolves the issue. I would be interested to know how this worked out.