Consumer complaint received 2025-05-22 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account information incorrect
Company: Nelnet, Inc.
State: NY

Complaint narrative:
Many low-income, minority, and foreign students in XXXX XXXX XXXXXXXX used to see XXXX XXXX XXXX a for-profit school with campuses in XXXX and XXXX, as a way to get ahead. However, XXXX XXXX was closed down for good in XXXX after federal and state agencies looked into it and took action. Its closing is a worry case of predatory behavior in higher education, where schools put making money ahead of their students ' success and well-being. 

In late XXXX, the U.S. Department of Education took away XXXX XXXX 's ability to accept federal financial aid, saying that the XXXX  had not met fiduciary standards and was still not following the rules ( U.S. Department of Education, XXXX ). Since XXXX needed Title IV funds, which are a big source of income for for-profit schools, it could no longer run its business. As of XX/XX/XXXX, the XXXX  was no longer offering classes. 

At the heart of the problem were dishonest ways of recruiting students and fake ads that gave potential students false information about the value of XXXX 's programs, graduation rates, and job placement rates. The Federal Trade Commission ( FTC ) and the XXXX XXXX XXXX XXXX XXXX ( XXXX ) looked into XXXX 's marketing and found that the XXXX  had lied about how well it could help students get jobs after graduation, especially in business and healthcare ( XXXX, XXXX ). Many graduates actually had a hard time finding work in their areas, and it was found that XXXX 's job placement data were not accurate and were skewed. 

Another big worry was that financial help was being misused. XXXX reportedly kept enrolling students who weren't qualified or weren't ready, so they could make more money from tuition while not giving enough academic help. A lot of students who graduated from XXXX XXXX did so with a lot of debt and without the titles or skills they needed to get a job. In the for-profit education sector, goals are often set by enrollment numbers and profit margins rather than educational quality and student results The shutdown has had big effects on the lives of thousands of students including myself who were left without a plan for their careers or their academic progress. There were teach-out plans and transfer deals with other schools, but the sudden closing made a lot of people confused and upset, especially first-generation XXXX  students and immigrants who just moved to the U.S. 

Higher education, especially in the for-profit sector, needs more oversight and responsibility. The fall of XXXX XXXX shows this. It makes us think about who really gains from XXXX  and how important it is to keep weak groups safe from being taken advantage of. While federal and state agencies continue to keep an eye on schools and universities, the XXXX case shows what can happen when you put profit over purpose in education. XXXX XXXX deceptive and predatory practices have left me in financial ruin, burdened with student loans for an education that failed to deliver on its promises. 

As a result, my credit score has significantly declined, making it difficult to qualify for basic financial opportunities such as car loans, housing applications, or credit cards. The presence of these student loans on my credit report acquired under the false premise of career advancement has severely damaged my creditworthiness, limiting my ability to build financial stability or plan for the future. What was supposed to be an investment in my future has instead become a lasting source of debt and distress, all stemming from XXXX  exploitative actions.

Company response to consumer: Closed with explanation