Frustrated with Nelnet

[Permanent Temp]

I have started to make small extra $20 payments to my student loans with each paycheck and sending snowflakes here and there. I know the policy is the payment is applied to fees (if any), interest an then principal.

Last month I made an extra $20 to one of my loans. I asked if that would affect KwikPay paymenst and they stated it would not but if it did I could pop in the chat and they would fix it for me. Lo and behold they applied it incorrectly.


So I went into the chat to have them reapply it and they stated they could allocate the normal amounts to each loan as in my KwikPay I add an extra $10 that they spread across the loans and it would take 3-5 days. It's now been nine days so I called in. The woman stated she could fix it and that if I wanted the other loans to have the amounts applied to them that they have had applied to them this whole time I would have to take the extra $10 off the quick pay and pay it myself.

Well I said that isn't the problem. The problem is that loan E was not applied correctly which messed up the extra on the other loans. I asked if I could send it in by mail with instructions to not push back the due date so that this wouldn't keep happening and she stated that no one did that and I should just call in or do it online.

I just looked at this infograffic online:

http://www.nelnetloanservicing.com/wp-content/uploads/2141_Prepayment_Infographic_FIN_FIN.pdf

This references to a check box to not box back the date that doesn't seem to exist or at least I cannot find it.

Has anyone else made payments to Nelnet, do you have any tips for dealing with this? I just want my KwikPay to go in as it did before and throw an extra money at one of my loans when I can without upping the due date. I don't know why its so difficult

[herdjohnson]

I think it depends on when you make the payment.

If you have a payment due (when you go to pay now, there will be a $ amount beside Pay This Amount, under Payment amount), it's going to apply that payment to your amount due. If you have already made your monthly payment and there's nothing due, or if you are paying more than the amount due you can put that amount in. Then under section 2 "Select Payment Date" under the date box, a new selection box will show up that says Do Not Advance Due Date.

There's a little pop-up explanation beside it that gives an example...

"For example, if your amount due in the month of August is $50 and you submit an online payment for $150, your account will be credited for the months of August, September, and October ($50 + $50 + $50 = $150). Your next payment due date will be in November. This DOES NOT impact how or when the full payment is applied to your account, or restrict you from still making a payment in September or October if you wish."

So if you do not have that box checked, it will disable your auto-pay until a new amount is due. I pay manually, so it doesn't really matter for me.

Hope this helps.

[Permanent Temp]

What do you mean by pay manually? Does that mean you don't do the KwikPay as well? I only do it because of the interest rate discount.

[herdjohnson]

What do you mean by pay manually? Does that mean you don't do the KwikPay as well? I only do it because of the interest rate discount.

Yeah I don't do the KwikPay. It doesn't offer me any interest rate discount to do it. I do my budget by pay-periods, so I just go on every 4 weeks and make a payment. You could probably do the same - as long as you're actually enrolled in KwikPay you're probably find, regardless of if it actually makes the payment. I do that with several of my bills that give me discounts or have sent me giftcards for signing up for auto-pay programs.

[Permanent Temp]

I'm finding out that KwikPay is the reason the button won't work so what I have to do now is every time I make an extra payment I need to make a request for them to reset the pay date. It is super irritating but I want that .25 interest rate discount since I know I will not be able to pay off my bills in full anytime soon.

I thought having to mail in a check for my extra car payment was a pain in the butt this is much much worse.

[Permanent Temp]

Here is some info to save anyone else the trouble that I just went through based on my experience:

1. When you pay your loan with KwikPay on Nelnet it seems that even if you make double the payment on a loan it will not give you the option to make sure your due date does not advance.
2. If you due date does advance on one of the loans KwikPay will not apply the normal amount it does to that loan if all the other loans have an earlier due date.
3. If KwikPay does mess up you can request that it is reapplied correctly. You must do this by phone to make sure that it actually goes through.
4. The fast way to make an extra payment on a specific loan is to go through the website.
5. Once you do the extra payment to your loan and it messes up your due date you can pop in the chat and request that they reset it to the correct due date. There is no limit on the number of times you can have your due date reset.

Hope that info helps someone out there. It took me 10 days of talking to people who seem to not know what to say unless its on the script. At least know I have gotten to the bottom of it and even though it will be frustrating as hell it lit even more of a fire under my ass to ensure that this is over and done with as quickly as possible.

[dczech09]

When I was paying Nelnet, I used my bank's bill pay system, not KwikPay. I considered using KwikPay, but it seemed too clunky at the time. Really a hassle.

I sent payments using my bank's bill pay system, sent extra as I was paying it down, and I would notice that the due date would advance, however my pay-off balance would also go down (as it should). So I just ignored the whole due date thing and went on my merry way of paying them all of what I owed.

Being debt free now, I love not having to deal with those student loan servicing agencies. I hear horror stories all the time; it seems like they are becoming more and more incompetent as the national student loan debt rises.

[Permanent Temp]

New update. My last request to push back the date failed. They told me I cannot push back the date if it is within 30 days of the due date, that doesn't make any sense to me. They say its because they cannot make a new statement in that time and send it to me.

I would totally drop KwikPay but I need that discount as my employment situation is continually uncertain and no matter what it would take me a few years to pay off these loans so I'm trying to save as much in interest as possible. Last year I made so much money that I almost didn't qualify for the student loan interest adjustment so having extra interest is not necessarily advantageous either.

My new plan is to just have them readjust the KwikPay payment if it pays out incorrectly and for some reason the date pushes for forward and I can't get it reset.

This whole thing has been a monumental pain in the ass. I just really really hope I land another well paying assignment so I can get rid of this headache.

[ANewHorizon]

Wow I am sorry you are dealing with such a mess. We will be dealing with Nelnet next year and I'm not looking forward to it if it's going to be such a hassle with Kwik-pay and extra payments.
I think they are so used to people just accepting the minimum/auto payment that they don't care about those of us who want the debt gone faster!
Rabbit trail..... I know people who make enough money that they could pay off their student loans quickly if they wanted to. Instead they seem content to pay the minimum monthly payment for the next 10 odd years. Doesn't make any sense to me.