Consumer complaint received 2023-07-30
Company: Nelnet, Inc.
State: MA
Product: Student loan
Sub-product: Federal student loan servicing
Issue: Dealing with your lender or servicer
Sub-issue: Received bad information about your loan

Complaint:
Ironically, the reason I am contacting the CFPB today is regarding the EXACT SAME joint consolidation loan ( JCL ) we've have trouble with from the beginning, and contacted you about almost 10 years ago. The loan has been entirely mismanaged from its origination -- and we have missed out on every ounce of possible help since it was first made out -- two months AFTER Congress deemed JCLs no longer legal. 
Financial violence is the way I'd describe this loan, and the impact its had on our lives and livelihood ; the usurious terms and punishing treatment is too much to even think about. Suffice to say that we have paid approximately $ XXXX on this loan that originated at $ XXXX in XXXX ( not including the payments we made on the loans within the consolidation between XXXX. ) The balance is now $ XXXX. It is out-of-control -- and always has been. I have been in XXXX XXXX since XXXX -- with the exception of one year working for a private company, and 2 years at a XXXX XXXX " part-time '', 32 hours/week. ( Unfortunately, PSLF requires one to work full-time or a minimum of 30 hours/week -- whichever is greater -- so I lose those years. The university never included our " lunch hour '' as paid time, either. XXXX XXXX is simply burying us in every way they know how. ) I have XXXX years in XXXX XXXX, depending on how the servicer will count my time in repayment, and would like to separate and consolidate with my XXXX XXXX my portion of our JCL.  Congress PASSED the LAW to separate last XXXX XXXX XXXX  There is still no mechanism -- and my current servicer, Nelnet, will not agree to put the loan into forbearance. The reps I have spoken to insist I need to utilize a " regular '' forbearance, where the interest will capitalize the loan to even larger, out-of-sight balances, or I must pay. The Department of Ed insists they have asked servicers to pause/apply administrative forbearances while a system to separate these loans is worked out -- but my Nelnet servicer reps have never heard of such a thing. They will NOT put our loan into a non-interest-accruing status. PLEASE -- I want to qualify for PSLF -- if not now, soon. We would consider paying off, via a home equity loan, my husband 's portion of the loan immediately, to keep it from growing out-of-control over the next year -- or whenever Department of Ed gets its act together. We are being punished financially on SO MANY FRONTS!!!! Please -- separate these NOW or FREEZE THEM as-is -- or cancel them altogether. They are a crazy mix of loans anyway -- loans that should NEVER have been made out, let alone combined. We were poor when we had to borrow these loans for our XXXX kids, then, and are poorer now, at XXXX and XXXX  years of age. We can't even think about any sort of retirement or cutting back hours to part-time -- and our grind is wearing us down. We can't even PLAN our life out over the foreseeable future -- we don't know WHAT the government/servicers ' plan is! We are in limbo -- and have been for years -- while we wait for the Department of Ed 's action. 
WHERE is congress when we need it? WHY are we paying our servicer when all they do is suck as much money from us as possible, offer NO service, and raise our balance monthly? SEPARATE NOW/FOREBEAR W/O INTEREST/CANCEL. Just do something.

Company response to consumer: Closed with explanation