Consumer complaint received 2024-05-12
Product: Student loan — Private student loan
Issue: Getting a loan — High pressure sales tactics or recruiting
Company: Nelnet, Inc. (PA)

I'll try to make this long story as short as possible. I attended XXXX  XXXX XXXX XXXX XXXX from XXXX and graduated in XXXX. I graduated with a XXXX XXXX XXXX in media arts and animation, and as you are probably aware, the school and affiliated XXXX XXXX, and many associated student loan lenders have all been under the microscope for their unlawful tactics of recruiting students into the schools using high pressure sales techniques, false jobs statistics for job placements, and misplacing loan payments altogether. I personally have been involved with this battle my entire life since graduating and only recently have seen some big results regarding the massive class action lawsuit XXXX versus XXXX through the Borrower Defense to Repayment program. These student loans involved in the lawsuit were all federal loans, but the lawsuit highlighted how much illegal activity had gone behind the curtain between the school, the lenders, and the entire system. I am so happy that we finally are seeing justice with our federal loans, but many of us, including myself, have tens of thousands of dollars in private loans that we are still struggling with, and since they are not federal loans we have less repayment options and higher interest rates. Many of us had more in private loans than they did in federal loans because like myself, we maxed out our XXXX loan allowance for that XXXX year duration of college attendance. I was forced to take out private loans because I couldn't get any more XXXX grants, miscellaneous grants, paying cash, or more money through XXXX loan programs. I did not come from a wealthy family, so I had no option but to take out multiple private loans which totalled somewhere around {$35000.00} to XXXX that I am still paying to this day, and despite paying $ XXXX each month for over 10 years, my balance is not gone down whatsoever. I am putting in a complaint because if these XXXX loans associated with that lawsuit can be canceled, I see no reason why these private loans should be dismissed as a special case and we should be expected to continue to pay. These companies should be held accountable just as much as the schools themselves and other lenders. My loans originated through XXXX, XXXX, Great Lakes, then I consolidated through XXXX Bank which is now under Firstmark Services. I have somewhere around {$32000.00} to {$35000.00} currently. I have never missed a payment, despite all the financial hardship over the years, including eviction, loss of employment due to layoffs, and other financial hardship. The lawsuit with XXXX XXXX versus XXXX and XXXX has proven that these schools and these loan servicers have done an illegal act against thousands of consumers and loan borrowers, so let 's finish this fight. 

.... 
Thousands of students were scammed by XXXX into taking out predatory private loans to attend for profit online schools such as the one I attended, XXXX  XXXX XXXX XXXX XXXX. 
As a matter of fact, XXXX  XXXX XXXX and their Parent company, XXXX were investigated by the attorneys general of several states and have been found to have acted in a fraudulent manner. 
Because of the numerous claims of fraud and misconduct perpetrated by XXXX  XXXX XXXX, the Biden administration has just announced a blanket discharge for anyone enrolled at The Art Institutes from XX/XX/XXXX to XX/XX/XXXX. 
My Federal loans in the amount of about XXXX were XXXX and my credit repaired. 
I am aware that XXXX was sued by XXXX state AGs regarding their predatory loans to attend these online for-profit schools and that XXXX XXXX were XXXX " preferred '' lending company in a " deal '' with these schools during the early XXXX 's. 
These private loans with a high risk of default were part of a package deal offered to " for profit online schools '', but loans made to students in states outside of the agreement, or those who were not in default for 7 months or more during a " specific '' time frame, were excluded. 
I am sure this was a big win for XXXX, but what a sham of a settlement deal for the rest of borrowers scammed into taking loans to at least XXXX for profit online and campus schools. 
After the XXXX settlement, didn't XXXX also get out of the XXXX student loan business due to scrutiny from lawmakers and borrower advocates? 
Didn't XXXX have to pay restitution to the Federal student loan borrowers for not informing students of IDR/IBR payments students could have enrolled in, but instead steered toward forbearance? 
Furthermore, hasn't XXXX been sued at least a half dozen times for other predatory loan practices and illegal collection practices? 
I am also aware of a " pilot '' program by which XXXX is sending out " applications '' to select students who may have filed Borrower Defense claims against their schools and were approved. 
This application is a sham. 
Why do we need to prove anything? 
XXXX knows who we are. 
Under the FTC " Holder Rule '' XXXX is liable for giving predatory loans in connection with online for-profit schools. 
XXXX is running out for XXXX to do right by students who were scammed into taking out private loans to attend online for profit colleges who have committed misconduct and misrepresented themselves to the public to entice students to enroll. 
XXXX XXXX XXXX has sent a letter to XXXX 's CEO asking to discharge these loans NOW! It's time XXXX do the right thing and discharge all these predatory private loans made to attend online for profit schools NOW! 

Link to Senator XXXX  Letter : https : XXXX % XXXX % XXXX % XXXX % XXXX % XXXX % XXXX % XXXX % XXXX % XXXX