Consumer complaint received 2024-01-25 00:00:00
Product: Student loan — Federal student loan servicing
Issue: Improper use of your report — Reporting company used your report improperly
Company: Nelnet, Inc.
State: NH

Complaint narrative:
Nelnet is obligated per the Family Educational Rights and Privacy Act ( FERPA ) ( 20 U.S.C. 1232g ; 34 CFR Part 99 ) protect the privacy of student education records. Sschools must have written permission from the parent or eligible student in order to release any information from a student 's education record. However, FERPA allows schools to disclose those records, without consent, to the following parties or under the following conditions ( 34 CFR 99.31 ) : - School officials with legitimate educational interest ; - Other schools to which a student is transferring ; - Specified officials for audit or evaluation purposes ; - Appropriate parties in connection with financial aid to a student ; - Organizations conducting certain studies for or on behalf of the school ; - Accrediting organizations ; - To comply with a judicial order or lawfully issued subpoena ; - Appropriate officials in cases of health and safety emergencies ; and - State and local authorities, within a juvenile justice system, pursuant to specific State law. 
Schools must notify parents and eligible students annually of their rights under FERPA. The actual means of notification ( special letter, inclusion in a PTA bulletin, student handbook, or newspaper article ) is left to the discretion of each school. 

consumer is now requesting NELNET to provide the documentation used to determine inquiry was indeed authorized by the consumer. NELNET has 15 days to provide consumer with the name of the person spoken to, documentation used, signed application with consumer wet ink signature. consumer is NOT asking for e-oscar report. if NELNET does not have documentation to show these were in fact authorized it must be removed asap. SAID company is liable under the SEC to follow certain rules. NELNET is securitizing consumers data yet refuse to provide consumers a copy of their CONSUMER FILE NOT CONSUMER REPORT. 

It is also evident that the parent company of Nelnet is XXXX XXXX. After reading the SEC filing a few excerpts stood out that may challenge the law - We fund the majority of our FFELP student loan assets with one-month or three-month LIBOR indexed floating rate securities. 
- The majority of our portfolio of student loans is funded through asset-backed securitizations that are structured to substantially match the maturities of the funded assets, and there are minimal liquidity issues related to these facilities. 
- We rely on third parties for a wide array of services for our customers, and to meet our contractual obligations. The failure of a third party with which we work could adversely affect our business performance and reputation. 
- We must satisfy certain requirements necessary to maintain the federal guarantees of our federally insured loans and the federally insured loans that we service for third parties, and we may incur penalties or lose our guarantees if we fail to meet these requirements.

Company response to consumer: Closed with explanation