Consumer complaint received 2016-12-08
Company: Nelnet, Inc.
State: MD
Product: Student loan
Sub-product: Federal student loan servicing
Issue: Dealing with my lender or servicer
Sub-issue: Received bad information about my loan

Complaint:
XXXX engages in collection practices that are both deceptive and abusive in violation of UDAAP. My student loan has recently entered repayment. I was sent an electronic communication from Nelnet that stated my monthly payment was {$240.00}. When I went online to pay my monthly payment, the website stated that my monthly payment was in fact {$2300.00}. I am unable to pay a monthly payment of $ XXXX dollars based on my monthly income so I attempted to apply online for an income based repayment plan. I entered the information requested on the website and received an estimated monthly payment of {$150.00}. However, I was told that I could not change my repayment plan online and was provided a number to call. I called Nelnet at XXXX and spoke with a customer service representative ( CSR ). The XXXX asked me several questions including my pre-tax income ( although the website asks for XXXX from most recent tax return, which in my case are different figures ). The monthly payment I was quoted over the phone was $ XXXX. When I questioned the XXXX about the significant difference in estimated payments from online vs. the telephone and why she wanted pre-tax vs. XXXX, she was unable to provide a sufficient answer. I then explained that because the estimated payment was significantly different online, I wanted to know why my account could not be changed online, and how I could change it online so that I could get the more reasonable payment that was provided online. Again, she was unable to provide a sufficient answer. I asked her if there was any other repayment options because the figure she had given me was still not within my means, and was told that was the lowest monthly payment that could be offered. Further she told me that my only options were debt consolidation or forbearance. I then asked to speak with a XXXX because I was unable to understand the significant difference between the information I was provided online and the information I was provided on the phone. After speaking with the XXXX she asked about other federal student loans in repayment and their interest rates ( which had not been asked by the XXXX ) among other financial questions that had not be asked by the XXXX. After XXXX mins of explaining my confusion, challenging the differences in the information being provided to me, and providing as much information as possible, the XXXX stated that my payment should be around {$150.00}. 
The inconsistency in the information provided online, by the XXXX, and by the XXXX is misleading. Had I not known to ask questions and push to provide the information that they were actually requesting, my payment could have been significantly different. If I had not done so, I would have had a monthly payment that I still could not afford based on my income and my only other option was to put my loan in forbearance and incur several thousands of dollars in interest. Others, who would not know to asks the questions I did probably find themselves in this situation daily, with payments that are beyond their means and they either have to put the loans in forbearance or end up defaulting. 
Nelnet 's use of inconsistent information, failure to collect vital information for determining a person 's repayment obligation, and omission of material information to the people it is attempting to collect from is unfair, deceptive, and abusive.

Company response to consumer: Closed with explanation