Consumer complaint received 2020-07-09
Company: Nelnet, Inc.
State: GA
Product: Student loan
Sub-product: Federal student loan servicing
Issue: Dealing with your lender or servicer
Sub-issue: Don't agree with the fees charged

Complaint:
I as a consumer, was approved for an Income Driven Repayment ( IDR ) plan on XX/XX/2019. I was disenrolled from the program on XX/XX/2019 after making a partial payment by phone on Oct. 16, 2019.  I specifically asked if this " overpayment '' as they referred to ( a partial interest payment ) would affect my IDR eligibility. They told me " no, it does not. '' The next day Great Lakes Student Loan Borrower Services disenrolled me ( as consumer ) from IDR, which is supposed to pay the subsidized interest on my loans. My loans were consolidated and included from another school XXXX  XXXX XXXX XXXX XXXX University for a XXXX XXXX Degree. I hold 5 degrees. By disenrolling me from the program, I would not get the interest payment, which is capitalized. 

They disenrolled me a second time in XXXX. I never received any notice if this change, they claim because of the CARES Act. However, it caused my credit score to plummet, and it changed the status to my loan again to forbearance instead of IDR. They have continually refused to sent a written statement to track interest accrual, capitalization, and payments. The interest credit that they did post, does not reflect the total interest accrued for all subsidized loans. I believe this is the reason that they keep my loans in forbearance status. My complaints are as summarized : Great Lakes Student Loan Borrower Services disenrolled consumer from Income Driven Repayment ( IDR ) plan without permission and without notice on two separate occasions. 
This program is supposed to pay all interest on all subsidized student loans, which constitute 50 % or more, of the annual interest to be capitalized on consumers loan. 
Great Lakes Student Loan Borrower Services posted nowhere near this required amount of interest during the period that consumer was on the p

rogram. Consumer repeatedly requested a statement in order
to follow the balance and interest posted, which Great Lakes Student Loan Borrower Services changed and immediately rescinded the statement request to an online statement, which was ambiguous and could be easily altered not being in print. 
Consumers credit report plummeted each time she was disenrolled. Companies that service and monitor consumers CBR reported a different loan amount than what consumers online account balance was showing. 
In an email sent to consumer by Great Lakes Student Loan Borrower Services, they claimed on the second disenrollment that due to the CARES Act, they disenrolled me. They never addressed any of my questions regarding capitalizing interest or supplying consumer with a statement, or why they keep putting the loan in a forbearance status. This action increases consumers debt, because it does not allow for subsidized interest from the IDR program to be credited back to the consumers account, which lowers capitalization amounts of the balance.

These actions construe unfair trade practices under the Federal Trade Commission, which carries a penalty of {$10000.00} for the first offense and {$35000.00} for the second offense under FDCPA. They have at least two offenses.

This method of consumer theft makes it difficult for the consumer to repay the loan, because Great Lakes Student Loan Borrower Services refuses to show or reveal their actuarial accounting and how they capitalize the balance, while telling the consumer otherwise. Consumer believes that this is a form of financial false imprisonment and illegal under banking, finance, and debt collection laws.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation