r/StudentLoans • u/thot-taliyah • 1d ago
Nelnet Paid Off??
I can't imagine this is not a mistake, but I logged in to check my balance, and it says its all paid of. About 18.5k paid at the beginning of last month. I wasn't signed up for any special repayment plan. I've been paying about 400$ a month since our loans came 'back online' after the pandy (my minimum is around 170).
This happen to anyone else?
19
u/waterwicca 1d ago
You are being transferred to a different servicer. Likely CRI. Keep an eye on your Nelnet inbox, your email, and your studentaid.gov account. They will message you about the switch and you will have to set up your account with your new servicer
13
u/thot-taliyah 1d ago
After some digging this seems to be the case. Was able to sign up on CRI website and voila, all my loans. I knew I wasn't getting off that easy :)
10
u/babywraith 1d ago
Ugh, I just got transferred to Nelnet from Great Lakes recently. Is Nelnet doing a mass transfer now too??
2
1d ago
[deleted]
2
u/Which-Rush-80 1d ago
Who laid off 560? Nelnet?
1
u/Virtual-focus 13h ago
No, Nelnet has approximately 14 million borrowers. Great lakes merged with Nelnet. Loans can be moved from servicers for a number of reasons.
3
u/waterwicca 1d ago
No not everyone is moving. But CRI is a newer servicer and they need accounts to manage so borrowers from other servicers are getting moved there. Nelnet seems to be the most common accounts getting transferred, though.
4
2
2
u/Objective_Proof_8944 23h ago
My Nelnet loans just up and got transferred to another company with no notice
2
u/Virtual-focus 14h ago
Likely was sent as an email, you will receive a welcome letter once your accounts are fully loaded in the system for the new servicer.
2
u/Virtual-focus 14h ago
The loans were transferred to a new servicer. Your loans were placed into and administrative Forbearance while the transfer is taking place so you won't have missed payments. Once the account is active with the other servicer you will receive communication. You can make payments if you want but aren't required.
2
u/Sausage_Fingers-1 23h ago
Nice how that works. None of us agreed to have our loans sold but here we are. Every other agency in the US hopes we don’t know this but once you go to collections, you aren’t obligated to pay up because the people you made the original deal with, sold the loan. They got paid for it. We can’t just go pay some random strangers utility bill then sue them for it.
6
u/thot-taliyah 23h ago
From my transfer notice...
"Your loans are not being sold. ED will continue to own your loans; however, a different servicer will manage your loans and assist you on ED's behalf."
Not true.
3
u/Virtual-focus 14h ago
The Dept of ED owns the loans, they can move it to another servicer as needed. It wasn't sold. You should have received a goodbye letter from Nelnet. May have been sent to your email if you are signed up for e-correspondence. Once the new servicer has the account loaded in their system they will send you a welcome letter.
1
u/Virtual-focus 13h ago
Also, not all collections accounts are bought. Many companies hire a collection agency to handle that piece of it. The original creditor still owns it, they just contract another company. Same with student loans. ED owns them, they contract servicers to assist with repayment, previously they contracted agencies to collect.
1
u/Important-Aerie-5408 1d ago
Might be a glitch. did you get an official notification or email?
0
u/thot-taliyah 1d ago
Nope, I've never gotten an email from them outside of 2fa logins.
1
u/Important-Aerie-5408 1d ago
I’d try to get an official confirmation letter before getting hopes up too much.
1
1d ago
[removed] — view removed comment
1
u/AutoModerator 1d ago
Your comment in /r/StudentLoans was automatically removed for profanity.
/r/StudentLoans is geared towards a wide range of users, including minors seeking information and advice. To help us maintain a community that everyone feels comfortable participating in (and to avoid being blocked by parent/school/work filters), please resubmit your post or comment without using profane language. Thank you.
I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.
0
45
u/andreaadawn07 1d ago
My guess is that it's getting transferred to a different servicer. Hang tight and wait for correspondence from another company.