Complaint / review text:
I have had a parent student loan for over 15 years. The original balance was $47,460.13 I currently have a balance of about $31,000.
Over the loan period I have paid over $35,000 in interest. My total interest, if I pay on my current schedule will be $58,908.16.interest rates are at an all time low, yet NELNET is still charging a high rate of 7.625 %. This is outrageous and should be illegal.
The student loan situation is completely out of hand and needs to be changed. Rates should not be as high as they are and this company should be be required to reduce interest rates.