As a student loan borrower, you’re paired up with a student loan servicer, which acts as the middleman between you and your lender, ensuring you have tools and resources available for successful repayment.
Nelnet is one of the main loan servicers helping student loan borrowers manage their repayment. If you have Nelnet student loans, learn about all the ways you can work with them in order to conquer your student loans.
About Nelnet student loans
Nelnet is one of the top four loan servicers for federal student loans and works with the U.S. Department of Education to help student loan borrowers manage their repayment.
Headquartered in Lincoln, Nebraska, the servicer’s mission is to “Build a more educated and fiscally responsible world.”
In early 2018, Nelnet acquired Great Lakes, reducing the number of major student loan servicers from four to three. The other two are Navient and FedLoan Servicing.
Both my undergraduate and graduate loans were serviced by Nelnet up until I finally paid off all my debt. I’ve personally had a good experience with them.
What does Nelnet do as a loan servicer?
If you have Nelnet student loans, they will work with you as a student loan borrower in every stage of your loan cycle — while you’re in school, during your grace period, and as you repay your loans.
Nelnet’s primary role will be working with you in repayment to ensure you have a solid plan that you are meeting your obligation to repay your loans.
In most cases, student loan borrowers are automatically enrolled in the Standard Repayment Plan after graduation, which comes with a 10-year repayment term. However, you can work with Nelnet if you’d like to pursue another repayment plan.
As a loan servicer, Nelnet can:
- Manage your student loan payments
- Help you lower your payments by changing your repayment plan (such as from Standard Repayment Plan to an Income-Based Repayment plan)
- Work with you to apply for deferment or forbearance, which postpones your student loan payments
- Offer resources for getting financially fit
As a loan servicer, Nelnet provides support and customer service if you have any issues during student loan repayment. They are your go-to resource if you have questions about your payments, or if you’d like to make your payments more manageable.
Making Nelnet student loan payments
In order to start making payments on your student loans, you need to create an account with Nelnet. You’ll start by creating a username and password, as well as entering your Social Security number, date of birth, and other personal details in order to retrieve your loans.
Once you have an account, you can make Nelnet student loan payments in a variety of ways:
- Auto-debit, which automatically deducts your monthly payment from your bank account (choosing this option includes a 0.25% interest rate deduction)
- Mobile app — the Nelnet app is available for iPhone and Android and lets you make payments on-the-go
- Online payment using your computer
- Snail mail (addresses vary by loan)
- Through your bank’s bill pay service
- Using Nelnet’s automated phone system
Note that Nelnet does not allow you to pay your student loans with a credit card. Borrowers can also add an authorized payer to their account, so if your parents want to make payments towards your loans, they can.
Another way to keep tabs on your payments is through text message alerts. You can sign up for text alerts through their online system once you are logged in. You can set up alerts for important things like your payment due date, past due notifications, current statement, as well as if your loan status changes.
To enroll, go to Settings and select Manage Text Alerts to choose your preferences.
Nelnet student loan repayment options
Borrowers will have various repayment options available based on the types of loans they have. If you’re enrolled in the Standard Repayment Plan and what to change it, you can do so by logging into your account and clicking on Lower My Payments on the left-hand side.
From there, you can see which options you might qualify for such as the Extended Repayment Plan, Income-Based Repayment plan, and more. You will receive a notification once you’re approved for your new repayment plan.
You can also calculate your prospective monthly payments on the Income-Based Repayment Plan as well as the cost of deferment or forbearance on your student loans.
Nelnet Contact Information
Nelnet makes it easy to stay in contact:
You can call them 24/7 — If you have any questions, give ‘em a ring:
You can also send them an email using this form.
For general correspondence, you can send letters to Nelnet here:
P.O. Box 82561
Lincoln, NE 68501-2561
If you are sending documents related to changing your payment plan, use this address:
Attn: Enrollment Processing
P.O. Box 82565
Lincoln, NE 68501-2565
Remember, your loan servicer is your friend (or, at least, they want to be), so if you are struggling to make payments or need clarification on how your payments are being distributed, use this Nelnet contact information to get in touch.
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