Introducing Nelnet Student Loan Servicer
When someone agrees to borrow money for college with federal student loans, they are not making their payments to the government. Instead, the US Department of Education contracts with a variety of student loan managers who handle this side of the equation.
Nelnet is one of many federal student loan services that you may be matched with if you borrow money for school – at least until the end of 2021. Nelnet’s student loan service is separate from Nelnet’s private student loan company, U-fi From Nelnet.
Read on to learn more about Nelnet, how the business works, and how to contact them for payments or inquiries about your federal student loans.
What is Nelnet and what is it used for?
Nelnet is a student loan company that primarily manages federal student loans. When you take out federal student loans, the Department of Education chooses a provider from several providers and assigns it to you.
If your loans have been assigned to Nelnet, the company oversees your loan balances, payments, and your account. You will make monthly payments on your student loans directly to Nelnet, either by check, phone or online, and you can always contact Nelnet with any customer service requests regarding your account.
Is Nelnet a good loan manager?
Like other student loan managers, Nelnet has seen its share of bad user reviews. For example, the company has an average of 1.21 stars out of five within its Better Business Bureau (BBB) ââProfile, with most complaints citing poor customer service and slow turnaround times. However, this low score is quite typical among student loan officers. Nelnet is still accredited with the BBB with an A + rating.
What types of student loans does Nelnet offer?
Nelnet manages federal student loans. Nelnet could be your manager if you have any of the following types of loans:
- Direct unsubsidized loan.
- Direct Subsidized Loan.
- PLUS graduate loan.
- Parent PLUS loan.
- Direct consolidation loan.
- Perkins loan.
- FFELP loan.
How do I know if Nelnet is my server?
If Nelnet contacts you regarding your student loans, it is a sign that he has been selected as your loan manager. However, there are other ways to check if your loans are with Nelnet, including the following:
- Visit your Federal student aid dashboard and log in with your FSA ID. Find the “My Help” section and click “View Loan Manager Details”.
- Call the Federal Student Aid Information Center (FSAIC) at 800-433-3243.
- Check your credit reports to see which provider is listed.
If Nelnet is your student loan manager, you must create an account on the Nelnet website. This will allow you to keep tabs on your student loan details, including balances, interest, and payments. Nelnet offers you the ability to make online payments to your account, and you can also sign up for paperless billing.
How to make Nelnet payments?
You can make payments directly on Nelnet in several ways:
- In line.
- By email.
- By telephone.
- Via an online bill payment service.
- Via the mobile application.
You can choose to make payments to Nelnet manually, but the server also offers automatic payment options, which may give you a discount on the interest rate.
Nelnet allows customers to sign up for text alerts that notify them when a payment is due or a balance has been updated. You can also opt for text alerts that notify you of overdue payments.
How to contact Nelnet
There are several options to consider if you need to contact Nelnet for any reason. You can:
- Fill in a contact email form.
- Call 888-486-4722 Monday through Friday 8 a.m. to 10 p.m. ET.
- Reach out through Facebook Where Twitter.
- Mail correspondence to PO Box 82561, Lincoln, NE 68501. California residents can mail PO Box 82578, Lincoln, NE 68501.
The future of Nelnet
The Department of Education is currently in the process of moving to a new ‘Next Gen’ platform for student loans, which will reduce the number of student loan managers it contracts with in order to simplify the student experience. borrowers. Nelnet was not chosen as one of those services, and its contract with the federal government will end in December 2021.
This means that if you currently have federal loans managed by Nelnet, your loans will be transferred to another loan manager in 2022. You will receive emails, social media messages, and a wide range of other communications on your site. new loan manager when the time comes. switch. The details on your loans themselves will not change, although you may need to re-register for automatic payments.
The bottom line
Nelnet is a student loan manager who manages and oversees certain federal student loans. If this is your manager, this is the company you should contact with any questions regarding your student loan repayment. That being said, you may not have Nelnet as your server for long; keep an eye on communications from Nelnet and any future servers as 2021 draws to a close.