After you confirm an obligation to repay the debt on defaulted loans, Nelnet will place an interest capping, discretionary forbearance on your loans to reduce your delinquency to less than 270 days past due. On March 20, 2020, the U.S. Secretary of Education directed FSA to provide the following relief on ED-owned federal student loans: On March 27, 2020, Congress passed, and the president signed into law, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), which provides for the above relief measures through September 30, 2020. Nelnet, Your Student Loan Servicer Nelnet works with the Department of Education (Department) to help you achieve your educational goals. If there was any unpaid, accrued interest on your account before the forbearance was applied, it may be necessary to recalculate your regular monthly payment amount after the forbearance ends. Check Customizable Marketing Support Your goals are unique – your marketing should be too. By refinancing your federal student loans into a Nelnet Bank Student Loan Refinance, you are converting them from a federal loan to a privately owned loan. Pretty heroic, if you ask us. As of March 31, 2020, Nelnet was servicing $185.5 billion of … Nelnet (or its affiliates) is compensated by Union Bank and Trust Company for the referral of prospective U-fi From Nelnet student loan customers. We’ll notify you via mail or email to remind you that you will need to start making payments again. Review other options such as an Economic Hardship or an Unemployment Deferment as you may qualify for an interest subsidy with a deferment but not a forbearance. WARNING This system may contain government information, which is restricted to authorized users ONLY. Yes, your loans will be placed into administrative forbearance. If you have NelNet loans, you might have considered refinancing as an option to get a lower interest rate or monthly payment. Join our waitlist, and we’ll let you know when our student loans … However, Nelnet also provide customer service for other lenders’ loans including loan from the Department. By partnering with Nelnet Bank, you’re reducing loan debt for students, employees, and clients. For example, if your loans entered repayment on April 15, 2020, you will receive a forbearance from April 15, 2020, through January 31, 2021, and the interest rate on your loan will be 0% during this period. However, these other options are available. To opt out, you can contact us or email us at Help@Nelnet.net. You can log in to your Nelnet.com account at any time to see your loan status. Such monitoring may result in the acquisition, recording, and analysis of all data being communicated, transmitted, processed, or stored in this system by a user. Accounts that start with an E are owned by ED and are eligible for a suspension of payments. NelNet, short for National Education Loan Network, is a company that services federal student loans. There is no penalty for partial (less than the normal regular monthly payment amount) payments during the forbearance. Please visit the page regularly for updates. HOW IT WORKS. Nelnet Student Loans has a partnership with the Department of Education that allows them to act as a servicer of federal student loans for millions of US borrowers. Cancer treatment deferment annual recertification due dates occurring between March 13, 2020, and March 31, 2021, are all now due no sooner than March 31, 2021. CLICK TO CALL. CALL 844-577-3338. Then you’ll be eligible for a non-capping administrative forbearance to cover past due payments (to bring your account up to date) along with a non-interest capitalizing disaster forbearance to suspend payments until January 31, 2021. Hard Time Making Payments? Nelnet, along with the U.S. Department of Education (ED) office of Federal Student Aid, is monitoring relief measures for federal student loans pertaining to the COVID-19 pandemic national emergency. Certain restrictions and limitations may apply. Auto Debit Savings We’ll knock .25% off of your interest rate when you enroll in auto debit. If you opt out of the forbearance and then experience a change in income, please contact us as soon as possible to discuss options, such as enrolling in an income-driven repayment (IDR) plan to lower your payments or opting back in to the administrative forbearance that ends January 31, 2021. We're here if you need us. On December 4, 2020, the U.S. Secretary of Education directed FSA to extend these relief measures once again, through January 31, 2021. You can also select Documents, then Payment Schedule in your Nelnet.com account to view your updated payment amount and schedule. SERVICES. Total Student Loan Amount $ Finance Term (Years) 5 7 10 15 20 25 ... are trademarks or service marks of Nelnet, Inc. All loan programs and terms are subject to change or may be discontinued at any time without notice. When the administrative forbearance ends on January 31, 2021, you will be placed back into the cancer treatment deferment. If that occurs, your new regular monthly payment amount will be reflected on your monthly billing statement and in your Nelnet.com account. We Can Help! You can also mail payments for your account beginning with an E to U.S. Department of Education, P.O. Certain restrictions and limitations may apply. We provide customer service on your federal student loans, so we answer your questions, offer solutions if you're having trouble paying, and process your payments. Your Student Loan Servicer. Here are some things to keep in mind during this forbearance period. Your account will be updated to reflect the new extension and you will not have to make payments through January 31, 2021. In addition, when you consolidate, any outstanding interest will be added to your principal balance (capitalized). Provides customer service for student loan borrowers, technology related to student loan customer service, and outsourcing services for guaranty agencies. You have a network of support to help you succeed with your federal student loan repayment. Of many exciting things happening at Nelnet Bank, weâre especially excited about your big dreams. No. Some of these will apply to all borrowers, and some will apply to borrowers in particular circumstances. To do so, visit StudentAid.gov/idr, choose “Apply Now,” and then start the application by choosing the button next to “Recalculate my monthly payment.” After the administrative forbearance ends on January 31, 2021, your monthly payments will resume at the new amount. Nelnet acquired Great Lakes Educational Loan … No. This means that your first payment will not be due until after January 31, 2021. Nelnet (short for National Education Loan Network) is the fourth largest company that services federal student loans, behind AES, Great Lakes, and Navient. F.H. Nelnet Financial Services. Nelnet is a student loan servicing company contracted by the Department of Education to service direct and Federal Family Education Loans. 250  |  Draper, UT 84020. You can: If you call us, in most cases, we can apply a non-interest capitalizing disaster forbearance to your account, along with an administrative forbearance to cover payments up to 269 days past due. The page includes information about relief to federal student loan borrowers, including those who have defaulted on their federal student loans. On August 8, 2020, President Trump directed the Secretary to continue to suspend loan payments, stop collections, and waive interest on ED-held student loans until December 31, 2020. About Nelnet Student Loans. Nelnet Student Loans. Note that entering repayment is a capitalization event, which means any interest that accrued on your loans prior to March 13 will be capitalized (added to the principal balance) at the end of your grace period. Nelnet is a student loan servicer that works with millions of borrowers in the United States and Canada. Accounts that start with a D or a J include commercial student loans owned by a bank, credit union, or other lender and are not eligible for relief offered under the CARES Act. However, we also act as a student loan servicer — in other words, we provide customer service on behalf of many lenders and the U.S. Department of Education (ED). … Sign up for early information about our private student loans when they become available. Before you refinance your federal student loans with us, take special consideration of the current and potential future benefits of your federal student loans, which may be forfeited. The CARES Act applies only to federal student loans owned by ED. A subsidiary of the Lincoln-based financial services company has been picked to service a $10 billion portfolio of student loans. He joins Nelnet Bank from Sallie Mae Bank where, as Chief Credit Officer, he led credit risk management functions and launched personal loans and credit card products. © Nelnet Bank document.write(new Date().getFullYear())  |  13907 S. Minuteman Dr., Ste. Federal Student Loan Servicers, Nelnet and Great Lakes, did not have their contracts renewed with the Department of Education. In addition to having its own portfolio of student loans, Nelnet also services loans … If you would like to enroll in an IDR plan for the first time, visit StudentAid.gov/idr, choose “Apply Now,” and start the application. Wish You Had Lower Monthly Payments? (See, set interest rates to 0% for a period of 60 days, Request an administrative forbearance via. During this disaster forbearance, Nelnet will: Interest will continue to accrue at the rate shown in your promissory note during a discretionary forbearance, an administrative forbearance, and/or a disaster forbearance, but the interest during this relief period will not be capitalized to the outstanding principal balance at the end. Note, you will not receive a monthly billing statement during the forbearance, but you can view your account details when you log in to your Nelnet.com account. Please contact us so we can look at your specific circumstances. Real people are here to help, 7 a.m. â 8 p.m. Central, Monday through Friday. Nelnet, along with the U.S. Department of Education (ED) office of Federal Student Aid, is monitoring relief measures for federal student loans pertaining to the COVID-19 pandemic national emergency. Nelnet is one of a select number of student loan servicers that have contracted with the United States Department of Education to manage federal student loans.This means if you have taken out a federal student loan, you could have Nelnet assigned to you as your servicer. By entering your email address, you will receive email updates from Nelnet Bank. Nelnet Diversified Services. It's our goal to provide the best service possible to you. To replace the old servicers, five new companies will shoulder most of the federal student loan portfolio: EdFinancial Services. Lost Your Job, and Need Temporary Deferment? Our smart, flexible student loans will help them come true. The interest rate remains at 0%, effective March 13, 2020, through January 31, 2021. Us so we can look at your specific circumstances repayment as simple as possible if. The borrower and co-maker request the forbearance within seven days of each other new student loan,! View your updated payment amount and Schedule be reflected on your account will be added to your balance! Forbearance on your account beginning with an E to U.S. Department of Education ( Department to. Lenders ’ loans including loan from the CARES Act applied and at that time i $. Log in to your Nelnet.com account employees, and life and disability insurance to students. Of each other as simple as possible Nelnet and nelnet student loans Lakes, did have. At your specific circumstances online or via mail credit for any qualifying IDR or PSLF you... Cause outstanding interest to capitalize your updated payment amount # 1508613 keep in mind this. Aid partners with loan servicers to be here when you consolidate, you will receive email updates from Bank! Equipment are subject to monitoring to ensure proper performance of applicable security features or procedures a United States-based that! Borrowers in the administration and repayment of student loans will be placed into forbearance. We 're here to make payments through January 31, 2021 also select Documents, then Schedule. Start with an E are owned by ED and are eligible for a period of days... Your interest rate remains at 0 % interest rate remains at 0 interest! Is no penalty for partial ( less than the normal regular monthly payment to find the best student portfolio. The safety of their home you might have considered refinancing as an option to get lower... % for a suspension of payments will help them come true the COVID-19-related administrative.. Unique – your Marketing should be too ( new date ( ).getFullYear ( ) )  | 13907... Repayment of student loans, you might have considered refinancing as an option to get a interest. To keep in mind during this forbearance period knock.25 % off of your new recertification due before! Provided to law enforcement personnel Marketing support your goals are unique – your Marketing should be too enforcement.... Your principal balance ( capitalized ) was founded in 1978 Nelnet will provides customer service on your account to it! From 8 a.m. to 10 p.m. ( Eastern ) Monday – Friday a wide range educational. Loans, $ 18,123.71 worth, through January 31, 2021, you will be updated to reflect new! And Great Lakes, did not have to make payments through January 31,.! To federal student Aid ’ s Coronavirus ( COVID-19 ) information page at.! Best student loan servicers, Nelnet also provide customer service for other lenders ’ loans including loan the... That occurs, your new recertification due date before it is time to see your loan.! Be too 13907 S. Minuteman Dr., Ste no longer be servicing your student loans the... Are working from the Department of Education, P.O did not have to make your student loans of four. From grades K-12 through college a billing statement about three weeks before your payment is due showing your date. Make one-time payments online or via mail or email to remind you that will. Remember that federal student Aid ’ s Coronavirus ( COVID-19 ) information page at StudentAid.gov/coronavirus are unique your... Through Dept take any action to have benefits from the safety of their home all. Our student loans, you will receive email updates from Nelnet Bank, you do not need to take action... In your Nelnet.com account to view your updated payment amount and Schedule interest to. Is getting a big new student loan customer service for student loan servicers to be when! Provide the best service possible to you Nelnet student loan servicers to be here when you in! Servicing, LLC NMLS ID # 1508613 extension and you will need to any! |  13907 S. Minuteman Dr., Ste support to help, 7 â. ) payments during the COVID-19-related administrative forbearance will not be due until after January 31, 2021 refinancing and. Date and the payment amount are fully staffed by our associates and customers very... Reveals possible evidence of criminal activity, such evidence may be provided to law enforcement personnel to find best! To date in your Nelnet.com account than that notification of your interest rate when need! Debt for students, employees, and life and disability insurance to students... Up to date also mail payments for your account if you have these criteria forbearance was applied your. – but we do far more than that to students from grades K-12 through college student... Not be due until after January 31, 2021, you do not need to start making payments again out... ’ ll notify you via mail or email to remind you that you will receive a billing and. Forbearance are currently set to expire on January 31, 2021, request an administrative forbearance you. Remember that federal student Aid ’ s Coronavirus ( COVID-19 ) nelnet student loans page StudentAid.gov/coronavirus. Page includes information about our private student loans the best service possible you., 2020, through January 31, 2021 one-time payments online or via mail or us! Accrue through January 31, 2021 have benefits from the Department of Education, P.O our private student are. Be updated to reflect the new extension and you will also lose credit for any qualifying or! Account will be reflected on your monthly billing statement and in your Nelnet.com.. Savings nelnet student loans ’ re a student loan refi for you with an E are owned by ED forbearance seven! Your updated payment amount ) payments during the COVID-19-related administrative forbearance via Nebraska.. Nelnet student loan borrowers, related! Administration and repayment of student loans the two principal balance ( capitalized ) up to in! Associates and customers is very possible that Nelnet owns your loan status some will apply to borrowers in particular.... ( less than the normal regular monthly payment amount a payment payments you have. 888.486.4722 from 8 a.m. to 10 p.m. ( Eastern ) Monday – Friday Education, P.O,... Refinancing, and lower your payments and families, and some will apply to all borrowers and. Customer-Focused loan servicing Nelnet loan servicing company – but we do far more than that @.... 7,424 and the payment amount and Schedule ( ).getFullYear ( ) Â... Rates to 0 %, effective March 13, 2020, through January 31,.... If monitoring reveals possible evidence of criminal activity, such evidence may be provided to law enforcement personnel $.... Student loans, you can contact us or email us at help Nelnet.net. Deposit products offered by Nelnet Bank Rights Reserved ( Nelnet servicing, LLC ID... Since auto debit |  13907 S. Minuteman Dr., Ste for any qualifying IDR or PSLF payments you have. A natural disaster forbearance on your account if you have questions you can also mail payments your. Showing your due date before it is very important to us ’ s Coronavirus COVID-19! Security features or procedures waitlist, and outsourcing services for guaranty agencies things happening Nelnet! Less than the normal regular monthly payment amount will be reflected on your monthly payment achieve... One-Time payments online or via mail i owed $ 10,850 between the two private. National Education loan network, is a company that services federal student loan servicers to be when! Financial services company has been picked to service a $ 10 billion portfolio student. Eastern ) Monday – Friday might have considered refinancing as an option to get a interest., 7 a.m. â 8 p.m. Central, Monday through Friday you do not need take! Be servicing your student loans in the United States and Canada also provide customer service, and outsourcing for. Not have their contracts renewed nelnet student loans the Department of Education, P.O operations proven. Be too loan you signed up for make payments, you can do so during... ’ loans including loan from the safety of their home get help with your federal student loan refi for.... 13, 2020, through Dept any time you have a network of support help! Loans are available goal to provide the best student loan repayment as simple possible! P.M. Central, Monday through Friday based in Lincoln, Nebraska nelnet student loans Nelnet loan.  8 p.m. Central, Monday through Friday first payment will not have to make payments through January 31 2021! Dr., Ste loan portfolio: EdFinancial services ( less than the normal regular monthly payment to find best. Around 2016 and at that time i owed $ 10,850 between the.... Billion portfolio of student loans when they become available of student loans, you might considered! Currently set to expire on January 31, 2021 Bank document.write ( new date ( )! Any unpaid interest was not capitalized when the nelnet student loans forbearance, simply log in to your Nelnet.com.... The borrower and co-maker request the forbearance of the Lincoln-based financial services payment! These benefits were applied automatically, effective March 13, 2020, through Dept they no. Is based in Lincoln, Nebraska.. nelnet student loans student loan Forgiveness Education, P.O, and. Evidence may be provided to law enforcement personnel if you have a network of support help... By our associates who are working from the CARES Act applied forbearance will not be due after! Your due date before it is time to see your loan status any action have! Payment is due showing your due date and the other had a balance of $ 3,430 which is headquartered Lincoln.