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FAQs

About Your Student Loan(s)

It is possible that Nelnet owns your student loan, although we also act as a student loan servicer (provide customer service for loans on behalf of many other lenders). Get the details on all of your student loans (ones with Nelnet and with other customer service providers) online through the Department of Education's National Student Loan Data System (NSLDS) at nslds.ed.gov. You will need a PIN to access the site; you can get a copy of your PIN or request a new PIN at pin.ed.gov.

Log in to your Nelnet.com account, click on the View Loan Benefits link in the Account Snapshot. Under each of your loan groups, review the Loan Type. If the loan type is preceded by DL, the loan is part of the Federal Direct Loan Program (FDLP). If it is not preceded by DL, the loan is part of the Federal Family Education Loan Program (FFELP).

Generally, loans made under both programs have the same terms and conditions. Some differences include repayment plans, borrower benefits (for example, an interest rate reduction for making on-time payments), loan forgiveness programs, and interest rates. The primary difference between the two loan programs is that the Department of Education originates loans under the FDLP and private lending institutions originated loans under the FFELP.


Your Nelnet.com Account

Your Nelnet.com account is a secure section of the Nelnet website where you can view your account and loan details, make a payment, request to lower or postpone your payments, sign up for auto debit, and more. To access your account, log in with your username and password. If you haven’t created your online account, you can do so from the Register button on Nelnet.com.

Enter the username and password you selected when you registered. If you have not selected a username or password, register on the site.

  1. Visit Nelnet.com and click Register.
  2. To create your account, enter your Social Security number, date of birth, and email address.
  3. Create a username and password based on the rules specified on the page. Re-type your password and click Continue.
  4. Select one image from the displayed images to help you recognize that you are logging in to a secure Nelnet website, and Continue.
  5. Verify that your contact information is correct (update as needed).
  6. Review the terms and conditions.
  7. If you agree with the terms and conditions, select the checkbox stating "By checking this box, you accept these terms & conditions and consent to receive communications to your mobile device” and click Continue.

Things to remember:

Username Requirements:

  • 6 - 20 characters
  • No special characters (!,@,#,$,&,*, etc.)
  • It must begin with a letter
  • Your username cannot contain any form of the word "password" or "Nelnet"
  • Cannot have a space

Password Requirements:

  • 8 - 15 characters
  • One lowercase letter & one uppercase letter
  • One number or special character (!,@,#,$,&,*)
  • Cannot contain your username, any form of the word "password," or "Nelnet".

  1. Go to Nelnet.com and click Forgot Username
  2. Validate your identity by entering the following information:
    1. Your Social Security Number
    2. Date of Birth (mm/dd/yyyy)
  3. Click Request Username
  4. If all the information matches what is on file for your account, your username will be displayed

Go to Nelnet.com, enter your username, and click to log in.

  1. You will be taken to the password page.
  2. Click Forgot Password
  3. Validate your identity by entering your:
    1. Social Security Number
    2. Date of Birth (mm/dd/yyyy)
  4. Click to continue
  5. If all the information matches what is on file for your account, your password will be emailed to the email address shown
  6. Follow the steps in the email to change your password

Enabling your cookies allows you to use the functionality of the Back button on the Nelnet website and allows Nelnet to recognize your personal computer as a trusted computer.

Instructions for setting up cookies on Chrome, Firefox, and Internet Explorer Internet browsers are provided below. Keep in mind that browser versions vary, so these instructions might not be the exact steps you need to take for your personal setup. If we have not provided accurate guidance for your personal browser, please refer to the help information available on your menu bar.

How to accept cookies:

Google Chrome
  1. Open your Internet browser
  2. Click the Chrome menu icon
  3. Select Settings
  4. Near the bottom of the page, click Show Advanced Settings
  5. In the Privacy section, click Content settings
  6. Enable or disable cookies:
    • To enable cookies, select Allow local data to be set (recommended)
    • To disable cookies, select to block sites from setting any data
     
  7. Click Done to save
Firefox
  1. Open your Internet browser
  2. Click the menu button and choose Options
  3. Select Privacy
  4. Set Firefox to: Use custom settings for history
  5. Check mark Accept cookies from sites to enable Cookies, and uncheck it to disable them
  6. Choose how long cookies are allowed to be stored:
    • Keep until they expire: Each cookie will be removed when it reaches its expiration date, which is set by the site that sent the cookie
    • Keep until I close Firefox: The cookies that are stored on your computer will be removed when Firefox is closed
     
  7. Click OK to close the Options window
Internet Explorer
  1. Open your Internet browser
  2. Select Tools from the menu bar
  3. Select Internet Options
  4. Click on the Privacy tab
  5. Ensure that the settings are set to medium-high or lower
  6. Click OK

  1. After you have logged in to your Nelnet.com account, click on your name at the top of the screen
  2. Select Contact Information from the dropdown
  3. Update your contact information and click Save Changes

  1. Yes. Once you have logged in to your Nelnet.com account , click on your name at the top of your screen
  2. Select the Update Security Image option
  3. Select a new image and enter your password to confirm the change
  4. Click Save Changes

About Repayment

Generally, Stafford and PLUS loans must be repaid within 10 years from the start of repayment. However, any periods when you postponed your payments due to deferment or forbearance, and any time while you were in school or a grace period (when payments aren't due) will not count toward the 10-year repayment term. You may extend the repayment term if you qualify for the Extended Repayment Plan, Income-Based Repayment Plan, Income-Contingent Repayment Plan, Pay As You Earn, or Revised Pay As You Earn Repayment Plan. On a consolidation loan, the repayment period may extend up to 30 years depending on the initial balance of the loan. Please review your Payment Schedule for information on the term of your loan

Nelnet sends billing statements (either electronically or via paper, based on your selection in your Nelnet.com account) about three weeks before payments are due. You can always log in to your Nelnet.com account to verify upcoming due dates and payment amounts for all of your loans with Nelnet.

No payments are due while you are in school or if your loans are in grace, deferment, or forbearance, so you will not receive a statement if your student loans are in one of these statuses.

If you are having trouble making your payments, log in to your Nelnet.com account and select Repayment Plans or contact us. You may be eligible for other repayment plans, some with payments as low as $0.

A different repayment plan may make managing your monthly budget easier. Those repayment plans include Graduated, Income-Sensitive, Income-Based, Income-Contingent, Pay As You Earn, Revised Pay As You Earn, and Extended repayment plans.

Nelnet offers multiple ways to lower or postpone payments, so if you have any trouble making your payments, even if you are already behind on payments, remember that we're here to help you find a solution that will work for you. Call us at 888.486.4722 to get started.

To bring your account up to date and change your repayment plan, you may make the payments that are needed to bring your loan up to date. If you are unable to make these payments, Nelnet may be able to grant you a forbearance on your loans to cover the time you were behind on making payments. If you are having trouble making your monthly payment, log in to your Nelnet.com account account and select Repayment Options to explore your options.

For Stafford loans. Once you're done with school, or if you drop below half-time status as a student, loans enter a period known as the grace period. During this time, you'll have six months until you need to make your first student loan payment. NOTE: You may only use this six-month grace period in full one time. If you go back to school and take out new Stafford loans, you will have a grace period on the new loans after you graduate or drop below half-time status.

For GradPLUS loans. GradPLUS loans do not have a grace period; however, if your GradPLUS loan is disbursed on or after July 1, 2008, payments are postponed on this loan for six months after you graduate or drop below half-time status. For your GradPLUS loan, this postponement is called a six-month post-enrollment deferment. NOTE: You may re-qualify for the six-month post-enrollment deferment on your GradPLUS loans disbursed on or after July 1, 2008, each time you leave school.

Parent PLUS loans do not have a grace period; however, if your Parent PLUS loan is disbursed on or after July 1, 2008, you may postpone payments while your student is in school, including six months after you or your benefiting student graduates or drop below half-time status. During this postponement of payments, interest will continue to accrue if it is not paid. If you haven't yet pursued this option, you can request this postponement (called a Parent PLUS Borrower Deferment) by calling 888.486.4722.

In general, to pay less interest, make payments toward your student loans before they are due. For example, you can save money on interest by making a payment even when payments aren’t due (such as when you’re in school, in your grace period, or in deferment). On certain subsidized loans, the federal government pays the interest while you are enrolled in school, grace, or deferment—so any payment you make goes straight toward reducing the principal balance. You can also save on interest by making extra payments on your loans or by paying more than your regular monthly payment amount. All of these scenarios cause less interest to accrue overall.

Yes, you aren’t required to make payments while you’re in school, but if you do, you’ll save money on interest in the long run. In addition, if you make payments within 120 days of taking out your loans, the payments will reduce the original amount of the loan, which reduces the amount that you borrowed and, therefore, the amount of interest you will pay. Please note, this generally excludes PLUS and Consolidation loans.

You aren’t required to make payments on federal student loans while you’re in school—or for six months after you leave school (this six-month period is called the grace period)—so you don't receive a monthly billing statement. However, it is important for you to always know how much student loan debt you have. You can log in to your Nelnet.com account anytime to review the details on your loans that are with Nelnet, or log in to the Department of Education's National Student Loan Data System (NSLDS). You'll need your FSA ID—if you don't know it, get a new one.

On a subsidized loan, the loan’s interest may be paid by the federal government during your deferment. In this case, any payment you make will be applied directly to the principal balance of the loan, so you’ll pay it off faster and pay less interest.


Statements, eStatements, and Correspondence

We’ve provided sample statements that will help you understand how your payments and loans break down.

Find a sample statement for loans owned by the Department of Education (accounts staring with E) here.

Find a sample statement for loans owned by Nelnet (accounts starting with D & J) here.

If you have two or more account numbers, you will receive two or more statements. This means you have two different account types, either E or D & J. For more information on statements, refer to the statement overview https://www.nelnet.com/about-statements.

eStatements are electronic versions of your monthly statement. If you’ve opted into eStatements, you can access your monthly statements and correspondence in the Inbox and Documents area of your Nelnet.com account.

After you have logged in to Nelnet.com account, select Inbox and Documents from the Documents menu. The number next to your inbox tells you how many unread messages you have.

When a new message has been delivered to your Nelnet.com account, Nelnet will send an email to the address on file for your account. Every email includes a link to log in to your Nelnet.com account. After logging in with your username and password, select Documents in order to quickly and securely view your statements and other correspondence online.

If your personal email address is ever invalid or removed from your Nelnet account, no email notifications will be sent; however, messages will still be delivered to your inbox, and you will still be responsible for making your monthly payments on time. If late payments are received, a late fee (if applicable)* may be charged, even if you didn't receive an email notification that your statement was available. To help us best keep you informed, please keep a valid email address on file at all times. You can verify your due date and the payment amount at any time by logging in to your Nelnet.com account. You can also sign up for text message alerts before, on, or after your due date at Nelnet.com

*Note: The U.S. Department of Education does not assess late fees.

After you have logged in to your Nelnet.com account, select Contact Information. Update your email address and select Save Changes. If you have yet to include an email address in your contact information, you will be prompted at login (but not if your address listed is invalid).

Yes. If, for some reason, your statement doesn't arrive as planned, you are still responsible for making your payments on time If late payments are received, a late fee (if applicable)* may be charged, even if you did not receive your statement. To help us best keep you informed, please keep a valid address on file at all times. You can verify your due date and payment amount at any time by logging in to your Nelnet.com account. You can also sign up for text message alerts before, on, or after your due date at Nelnet.com

*Note: The U.S. Department of Education does not assess late fees.

For more information on ways to pay, see How to Make a Payment.

If you have signed up for eStatements to receive notifications in your inbox, or if your account number begins with the letter “E”, you can print your monthly statement by logging in to your Nelnet.com account and selecting Statements. When the statement is displayed on your browser window, select the Print button.

If your account number begins with the letter “D” or “J” and you haven't signed up for eStatements, you won't have access to previous statements. However, you can always log in to your Nelnet.com to see your current amount due.

Once you delete a message from your inbox, it cannot be restored. For that reason, please be cautious when deleting messages.


Authorized Payer

Your parent(s) or a third party can quickly and easily make a payment on your account through Nelnet's free, online payment system, but you need to set him or her up as an authorized payer. An authorized payer can make payments, even though they do not have access to any of your account information or messages. Follow these easy steps one time to set your parent(s) or a third party up as an authorized payer:

  1. After you have logged in to Nelnet.com, click My Info and Preferences.
  2. Click the Payment Profiles tab and then click the Add Authorized Payer button.
  3. Enter your authorized payer's name and e-mail address and create a username for him or her. Then click Save.
  4. Notify your authorized payer that his or her access has been set up.

If you desire to provide paper copies of your Nelnet statements and correspondence to your parent(s) or a third party, you may simply print the statements from your My Secure Messages inbox (if you are signed up to receive eStatements and other electronic correspondence).

Statements and correspondence are provided online through My Secure Messages only to student loan borrowers. Co-makers and endorsers receive their correspondence from Nelnet via mail. If you are a co-maker/endorser on a borrower's account, but you have your own Nelnet account as a borrower, you will receive statements and correspondence online through My Secure Messages only for the account on which you are the borrower. As a borrower, you may add an authorized payer—a person you designate, who can view amounts due and make student loan payments on your behalf. Learn how to add an authorized payer.


Making Payments

Making payments on your student loan with Nelnet is easy! With options to pay anytime, anywhere, you can manage your account your way. For more information on ways to pay, see How to Make a Payment.

Just follow these steps:

  1. Log in to your Nelnet.com account.
  2. Click Make a Payment.
  3. Enter the desired payment amount in the Payment Amount field
    • a. If you wish to direct your one-time payment (including partial payments) to specific loan groups, select Pay by Group and enter the amounts in the fields corresponding to the loan groups in which you would like the payment directed.
    • b. Depending on the payment amount you have entered, the Do Not Advance Due Date option might appear. By selecting this option, your due date will only advance a single month, even though you have satisfied more than a single regular monthly payment amount.
  4. Enter or select the desired Payment Date
  5. Enter your checking or savings account information and click Proceed to Confirmation
  6. On the Review page, verify that the information displayed is correct
  7. Read the payment authorization at the bottom of the page, and select Pay Now to submit your payment

Yes. Profiles can store your name, contact information, and bank information so you do not have to re-enter it each time you make a payment.

Auto debit is a convenient, simple payment option that offers you the peace of mind that comes with knowing your student loan payments are being made accurately and on time every month. You only have to sign up one time to have all of your payments made automatically. Nelnet's online payment system allows you to make a one-time online payment (ACH), even when your student loan payments are not due. Plus, you can direct your payment to specific loan groups. For more information on these, and other ways to pay, see How to Make a Payment.

Once payments are received, it can take up to two business days to post to your account. Payments are posted with an effective date of the date they are received*.

*All online payments must be submitted by 4 p.m. (Eastern) on a business day to be effective the same day. Payments submitted after 4 p.m. (Eastern) will be effective the next business day. Business days do not include weekends.

It can take up to two business days to debit your bank account. Your bank may take additional time for processing before you are able to see the debit reflected in your checking or savings account.

For more information on how payments are allocated to your student loans, see How to Make a Payment.

To view your payment history, log in to your Nelnet.com account and select History from the Payments menu.

Yes, you have the option to direct your payments (including partial payments) to an individual loan or loan group, as a one-time or recurring special payment instruction by contacting us.

Phone: 888.486.4722
Email: Help@nelnet.net
Mail: Send instructions (including your account number) using our correspondence address: P.O. Box 82561, Lincoln, NE 68501-2561
Or, you may submit special instructions on a separate piece of paper when mailing your payment using the preprinted address on the front side of your payment coupon.

Additionally, you may direct one-time online payments to individual loan groups by selecting Pay By Group and entering the amounts in the fields corresponding to the desired loan groups. If you want to direct future online payments to an individual loan instead of directing to a loan group, you may request that your loans be ungrouped by contacting us at 888.486.4722.

If you plan to pursue Public Service Loan Forgiveness, visit StudentAid.ed.gov/PublicService for more information regarding prepayments and how they are counted as qualifying payments.


Repayment Plans

You may change your repayment option to another whenever you want. Please note, however, that the availability of some repayment plans may vary, depending on your outstanding loan balance, interest rate, and repayment term remaining.

You may prepay your loan at any time without penalty, regardless of repayment plan.

To learn more about the various repayment plans that may be available, log in to your Nelnet.com account and click on Lower My Payments on the left.

To know which plan(s) you may be eligible for, log in to you Nelnet.com account and click on Lower My Payments to determine the repayment option(s) for which you qualify.

You will receive notification via mail or email based on your selected preference at Nelnet.com.

No. Choosing a different repayment plan will change the amount of your monthly payment. The amount you repay each month will determine the total interest that accrues on your loan, and therefore, how quickly you repay your obligation. For example, if you lower your monthly payment by choosing a repayment plan that offers a longer term, the amount of interest you'll pay over time, as well as the total amount you pay back over the life of the loan, will increase.

No. The type of repayment plan used to repay a student loan is not reported to the credit bureaus. Using a deferment or forbearance for your student loans will not adversely affect your credit history. Making a late payment or not making a payment at all could impact your credit history, so let us know immediately if you will have trouble making payments—we can help!

Your type of federal student loan may not have been eligible for the income-driven repayment plan you chose. Income-Contingent and Pay As You Earn Repayment Plans are for most Direct Loans, and the Income-Based Repayment Plan is for most Family Federal Education Loan Program (FFELP) and Direct Loans. Click here for more information about the qualification requirements.

No. There is no charge for changing your repayment plan. Please note that if your loans are on the Income-Based Repayment (IBR) Plan and you wish to change to a different repayment plan, federal regulations require you to make one scheduled payment on the Standard Repayment Plan or in a Reduced Payment Forbearance after exiting IBR before you may change plans.

If you have Family Federal Education Loan Program (FFELP) student loans and choose to exit the IBR Plan, federal regulations require that your student loans be placed on a 10-year Standard Repayment Plan or Reduced Payment Forbearance.

Any unpaid interest that accrued while you were on the IBR Plan would be added to your principal balance (this process is called capitalization) when you exit the IBR Plan. For more information about interest capitalization and its affect on your loan balance, click here.

When you apply online for an income-driven repayment plan (Lower My Payments link on the left), you will be directed to log in to StudentLoans.gov through which you can submit your application to us. Through the online application, you will have the option to securely transfer your Adjusted Gross Income from your federal tax information to your online application using the IRS Data Retrieval Tool.

Please note that if you elect to send alternative documentation of your income, or indicate on your application that the adjusted gross income from your tax return does not reflect your current income, you will need to send supporting income documentation to the address or fax number below before your repayment plan request can be fully reviewed and processed.

Nelnet
P.O. Box 82565
Lincoln, NE 68501-2565
Fax: 866.545.9196

You can renew your income-driven repayment plan in one of two ways:

  1. Log in to StudentLoans.gov and click Complete IBR/Pay As You Earn/ICR Repayment Plan Request. Select "I am submitting annual documentation for the recalculation of my monthly payment amount under my current repayment plan" under Reason for Request.
  2. Download the form at Nelnet.com/Income and check box 1b in section 2. Return your form with all sections completed to the address or fax number listed on the web page or page 5 of the application.

You may request that we recalculate your monthly payment amount on your income-driven repayment plan in one of two ways:

  1. Log in to StudentLoans.gov and click Complete IBR/Pay As You Earn/ICR Repayment Plan Request. Select "I am submitting annual documentation for the recalculation of my monthly payment amount under my current repayment plan" under Reason for Request.
  2. Download the form at Nelnet.com/Income and check box 1c in section 2. Return your form with all sections completed to the address or fax number listed on the web page or page 5 of the application.

The three income-driven repayment plans (Income-Based, Income-Contingent, and Pay As You Earn) were designed so that your payment will be reflective of your income as it changes over time, so it is necessary for you to provide us with your current income information annually.

If you choose not to provide us with your current income information each year, or we determine that your current income makes you ineligible for a reduced payment amount, you will remain on your income-drive repayment plan, and your payment amount will be adjusted to ensure your student loans will be paid off by the end of your remaining loan term. This would most likely result in an increase to your monthly payment amount.

If your financial situation or family size has changed at any time during the year, you may request that we recalculate your monthly payment amount on your income-driven repayment plan in one of two ways:

  1. Log in to StudentLoans.gov and click Complete IBR/Pay As You Earn/ICR Repayment Plan Request. Select "I am submitting annual documentation for the recalculation of my monthly payment amount under my current repayment plan" under Reason for Request.
  2. Download the form at Nelnet.com/Income and check box 1c in section 2. Return your form with all sections completed to the address or fax number listed on the web page or page 5 of the application.

Deferment, Forbearance, and Consolidation

A deferment is an authorized temporary suspension of repayment and may be granted under certain circumstances. You must apply, meet the qualifications for, and make arrangements with the servicer of your loans to get a deferment. Learn more about deferments.

If you are willing but unable to make payments and do not qualify for a deferment, you may request forbearance. Forbearance allows payments to stop temporarily or decrease in amount for a specific length of time. Your lender may grant forbearance of principal, interest, or both. You are always responsible for repayment of accrued interest charges. You can make interest-only payments, or the interest will be added on to the principal (capitalized) at the end of the forbearance period.

To apply for forbearance to postpone your payments, log in to your Nelnet.com account and click Postpone My Payments (Deferment/Forbearance) on the left.

To apply for the Reduced Payment Forbearance, log in to your Nelnet.com account and click Lower My Payments.

To apply for a forbearance or deferment, log in to your Nelnet.com account and click Postpone My Payments (Deferment/Forbearance) on the left.

If you have any trouble making your payments, please contact us immediately to explore your options.

To learn more about deferments and forbearances, click here.

To apply for a deferment or forbearance, log in to your Nelnet.com account and click Postpone My Payments (Deferment/Forbearance) on the left.

It typically takes approximately three business days from receipt of your application for your deferment or forbearance to be reviewed. To potentially reduce this time, you can apply online by logging in to Nelnet.com and clicking Postpone My Payments (Deferment/Forbearance) on the left. Many deferments and forbearances that are requested online are processed within 24 hours. If we need additional information from you to fully process your application, we will request that information and then process the deferment or forbearance at that time.

Nelnet will review the form to ensure it is complete and that all supporting documentation (as needed) has been received. You will be notified via mail when your deferment or forbearance has been processed.

No. Deferment and forbearance do not count against the repayment term on your loan.

IMPORTANT: By using deferment and forbearance options, you may increase your principal balance on your student loan due to interest that is added to the principal (capitalized) at the end of your deferment or forbearance. You may make payments to cover accruing interest to avoid this.

To apply for a forbearance or deferment, log in to your Nelnet.com account and click Postpone My Payments (Deferment/Forbearance) on the left.

The maximum length of your deferment or forbearance will depend on your situation, the type of deferment or forbearance you have applied for, and the attributes of your loan.

If your situation has not changed and you require more repayment assistance, log in to your Nelnet.com account and click Postpone My Payments (Deferment/Forbearance) on the left to review additional options that may be available to you.

Yes, you can consolidate your federal student loans through Nelnet. Learn more about loan consolidation.


Auto debit

Auto debit automatically deducts your monthly payment from a checking or savings account that you choose. Enrolling is easy. Just log in to your Nelnet.com account. You may also contact us.

Auto debit is a convenient, simple payment option that offers you the peace of mind that comes with knowing your student loan payments are being made accurately and on time.

There are no service fees for using auto debit. In addition, you don't need to use stamps, envelopes, or a check, which saves you time and money and preserves our natural resources.

Additionally, you may be eligible for a .25% interest rate reduction* while your account is in an active repayment status.

* Your lender may modify or terminate its borrower benefit program at its discretion and without prior notice. Your failure to satisfy benefit eligibility requirements may result in the loss of the benefit.

The first debit date depends on many factors, including how close you are to your current statement due date, your loan status, and your repayment plan. You will be notified of your first debit date when enrolling online, or if you sent in an authorization form, you will be notified in a letter.

If your debit date falls on a weekend or holiday, your payment will be automatically deducted from your bank account the following business day, but your loans will not be considered past due.

Yes, you will continue to receive monthly billing statements while you are signed up for auto debit.

Generally, you are eligible to sign up for auto debit as long as your loans are in repayment or will enter repayment within the next 180 days. To determine your eligibility, log in to your log in to your Nelnet.com account.

Yes*. When signing up for auto debit, you may choose to have an additional amount above your regular monthly payment automatically debited. Doing so will allow you to pay off your student loan faster.

*If your loans are on an Income-Based, Income-Contingent, Income-Sensitive, Pay As You Earn, or Revised Pay As You Earn Repayment Plan, or a low-pay forbearance, you may enroll in auto debit, but are not eligible to have an additional amount automatically debited. However, you may make additional, one-time payments at any time.

Auto debit automatically deducts your monthly payment from your checking or savings account while your student loans are in an active repayment status*, including when your account is past due or paid ahead (when you've paid more than the minimum due).

*Your monthly auto debit will not occur when loans are paid ahead while on an Income-Based, Income-Contingent, Pay As You Earn, or Revised Pay As You Earn Repayment Plan, or Reduced Payment Forbearance. If all of your loans are in one of these repayment plans, only your regular monthly payment amount as noted on your monthly statement will be auto debited. However, you may make additional, one-time payments at any time.

You can cancel or make changes to auto debit at any time by logging in to your Nelnet.com account or contacting us. A request to change or cancel auto debit can be honored up to three business days before your next scheduled auto debit date; however, please allow adequate time for receipt and processing. .

No. Automatic monthly payments may only be debited from a bank account for which you are the account holder. A third party can, however, quickly and easily make a payment on your account through our online payment system, but you will need to set him or her up as an authorized payer. They can also mail a payment, pay through their bank with its bill pay service, or make a payment over the phone.

Auto debit is able to debit a final payment even if the payoff amount is less than your regular monthly payment amount. It will automatically calculate and debit the last and final payment.


Special Payment Instructions 

You should provide special payment instructions when:

  • You are making a payment greater than the current amount due and do not want to advance your due date more than one month.
  • You are making a payment (including partial payments) and would like to direct it to individual loans or loan groups.

Note: You have the option to provide one-time or recurring special payment instructions.

You have the option to direct your payments (including partial payments) to an individual loan or group of loans, or request us to not advance your due date more than one month, as a one-time or recurring special payment instruction by contacting us

Phone: 888.486.4722

Email: Help@nelnet.net

Mail: Send instructions (including your account number) using our correspondence address: P.O. Box 82561, Lincoln, NE 68501-2561

Or, you may submit special instructions on a separate piece of paper when mailing your payment using the preprinted address on the front side of your payment coupon.

Additionally, you may direct one-time payments to individual loan groups and/or request to not advance your due date by logging in to Nelnet.com and select Pay Now. If you want to direct future online payments to an individual loan instead of directing to a loan group, you may request that your loans be ungrouped by contacting us at 888.486.4722. For more information on making online payments, see How to Make a Payment.

Yes. If your account is not delinquent, you may request to change your payment due date to any dates between the 1st and 28th of the month. (The payment date cannot be the 29th, 30th, or 31st of the month.) To request a change to your payment date, call us at 888.486.4722.

No, once a portion of a payment is allocated to a specific loan group, payments are applied to individual loans proportionally to fees first (if applicable)*, then interest, and then to principal. If you are on an Income--Based, Pay As You Earn, or Revised Pay As You Earn Repayment Plan, payments are applied to interest, then fees (if applicable)*, and then to principal. For more information on how payments are applied to your student loans, see How to Make a Payment.

* Note: The U.S. Department of Education does not assess late or returned payment fees


Interest & Fees

Most student loans (including all federal loans) use a method of interest accrual known as "simple interest." Simple interest is only calculated on the principal balance, not on the previously accrued interest.

To calculate your daily interest accrual, use the following formula:
(Current Principal Balance x Interest Rate) ÷ 365.25

Translated, this equation means that your current principal balance would be multiplied by the interest rate and then the product would be divided by 365.25 (the number of days in one year). The result of these calculations could then be multiplied by a specific number of days to determine how much interest would accrue in a specific time frame.

Example:
  • Current principal balance: $10,000.00
  • Interest rate: 5.750%
  • Days of interest needed: 30

[(10,000 x .0575) ÷ 365.25] x 30 = 47.22780

Interest adds-up (accrues) based on the principal balance of your loans. When this interest remains unpaid, at the end of certain periods, such as when your loan enters repayment, or after a deferment or forbearance ends, it is usually added to the principal balance of the loan when the loan again has payments due (goes into repayment).

At that point, any future interest that accrues will be based on the new outstanding principal amount (previous principal balance plus capitalized interest). Therefore, you pay interest on interest and capitalization increases the total cost of your loan.

You can avoid the cost of capitalization by making payments (on accruing interest or even on the balance) during any period when they are not due.

Two types of fees could potentially be added to your federal student loan: late fees and returned payment fees.

Note:  The U.S. Department of Education does not assess late or returned payment fees.

Late fees: Most lenders charge a late fee if you do not make your payment on time. These fees are usually charged as a percentage of any unsatisfied portion of your scheduled monthly payment. Most lenders provide for a grace period prior to charging a late fee. For example, if the grace period is five days, a late fee would be charged six days after the payment is due if a payment has not been received.

Returned payment fees: Payments returned due to non-negotiable funds may be re-attempted a maximum of one time. Returned payments may also be assessed a $5 fee.

If any fees are charged to your account, detailed information will be provided on your monthly statement.


Payoff Information

Your outstanding principal balance does not include the accrued interest currently due on your loan. When paying your loan balance in full, you need to satisfy the accrued interest. The payoff figure shown online includes all accrued interest currently due on the loan plus the number of days of future interest you select (between 3 and 30).

Online:
When you log in to Nelnet.com account, select Make a Payment. Then select Pay by Group to view the details of each account. You can enter the full current balance amount in the Payment Amount box to pay that group in full. Then continue to make the online payment.

Phone:
Payoff information can be obtained 24 hours a day through Nelnet's automated phone system when you call 888.486.4722. The information provided through the phone system updates daily, and the payoff amount you are given is applicable for 10 days.

Monthly statement:
Your payoff amount is shown on your monthly statement, applicable through the date indicated.

IMPORTANT: If you have both Nelnet-serviced (account begins with D or J) and Department of Education-owned (account begins with E) loans, you must make your payoff payments separately in order to have them applied correctly to your loans. For payment information, click here.

If the payment you provide is not enough to pay your loans in full, the payment will be applied to your loans as normal and you will continue to receive statements from Nelnet until you make a payment(s) that pays the loans in full.

Within approximately 45 days after receipt of the payment, a letter confirming the payoff will automatically be mailed to the current address we have on file. No special request for this letter is needed. You can also confirm your loan balance by logging in to your Nelnet.com account and selecting Loan Details.


Tax Information

To file your taxes, you’ll need the amount of interest you paid on your student loans in 2016, which you’ll find on your IRS Form 1098-E or on your monthly statement which is an approved substitute IRS form. You can access it by creating a new account or logging in to your Nelnet.com account. You’ll want to contact a tax advisor, who can help you determine if you can deduct this interest when filing your taxes.

Yes, this information is provided to all borrowers who made any payments in 2016.

We will send your tax information on your monthly statement in January and/or February if you normally receive monthly statements, or on a separate IRS Form 1098-E if this information will not appear on your January statement in time and you have paid more than $600 in interest during 2016. If you paid your loans in full during 2016, you will receive a 1098-E form.

Nelnet provides your tax information to you online regardless of the amount of interest you paid the previous year, which is available by January 31 and is available for the entire year.

  1. Log in to your Nelnet.com account (If you do not have a Nelnet.com account, creating one is easy).
  2. Click Print My Tax Info to get started.

If you receive your monthly statements electronically, you’ll find this information online with your normal monthly statement and/or a 1098-E form made available online.

You can also access your tax information via our automated phone system. This information is available 24 hours a day by calling 888.486.4722. Tax information is available via the phone system by January 31 each year and remains available through the end of April.

A person, financial institution, government unit, or educational institution that receives interest payments of $600 or more during the year on one or more qualified education loans must furnish this information to you. This information is also reported to the IRS. Nelnet chooses to provide this information online to all borrowers even if it is less than $600; if more than this amount, the information will be sent via mail, if less, you can find it online. For borrowers signed up for electronic communications, the information will be available in your Nelnet.com account, regardless of how much interest you paid.  Log in to your Nelnet.com account and select Print My Tax Info.

Your January and/ or February statement each year also serves as your IRS Form 1098-E, containing all the financial information you will need to file your taxes. If you've made your final student loan payment, instead of a statement, as IRS Form 1098-E will be mailed to you.

You may be able to deduct the student loan interest you paid in the previous year on your income tax return depending on your income and other factors not related to your student loans at Nelnet. However, you may not be able to deduct the full amount of interest reported. For more information regarding what is deductible, contact your tax advisor or see IRS Publication 970 "Tax Benefits for Education" and "Student Loan Interest Deduction Worksheet" in your Form 1040 or 1040A instructions. Nelnet advisors are not able to address federal tax issues.

If you received your tax information on your monthly billing statement (substitute IRS 1098-E form) or if you want a paper copy of your 1098-E tax information, you can print this from your Nelnet.com account starting in January.

Contact a tax professional or the IRS at 800.829.1040 or IRS.gov. We cannot advise you on tax matters. Nelnet is required to report only to the primary borrower and to the IRS the amount of interest that was paid in the name of the primary borrower. For more information regarding what is deductible, contact your tax advisor or see IRS Publication 970 "Tax Benefits for Education" and "Student Loan Interest Deduction Worksheet" in your Form 1040 or 1040A instructions.


Delinquent Loans

You are considered delinquent the day after your payment was due. For example, if your payment was due on May 15, and we don't receive your payment, you are considered delinquent as of May 16.

If you are having trouble making your monthly payments, you can log in to your Nelnet.com account and click Lower My Payments to request a different repayment plan or Postpone My Payments to apply for a deferment or forbearance.

If you are having trouble making payments or are concerned that making your payments may become difficult, contact Nelnet immediately while you can still take advantage of options that may be available to help you lower payments (a new repayment plan) or postpone your payments (deferments and forbearances).

If you are having trouble making your monthly payments, you can log in to your Nelnet.com account and click Lower My Payments to request a different repayment plan or Postpone My Payments to apply for a deferment or forbearance.

Regulations require us to contact you by phone and through mail until your account is up to date (current). If you have brought your account current and are still receiving prompts from us indicating your payments are behind, this is likely because the payment, deferment, or forbearance is still being processed.

If you have recently made a payment or applied for a deferment or forbearance, please allow 7 to 10 days for mailing and processing. You can check the status of your account at Nelnet.com.

When we have an incorrect address or phone number on file for you or your account is delinquent (you are behind on making payments), we are required by regulations to reach you to resolve the delinquency or get updated demographic information. Your guarantor is also notified of the delinquency and will attempt to reach you by telephone or mail.

You can conveniently update your address and phone information by logging in to Nelnet.com, clicking on My Info and Preferences, and updating your information on the Personal tab. Then click Save Changes.

When we talk to you, we want to ensure we have your most current information and make certain that we only discuss account detail with the correct parties associated with your loan(s). It was also indicated in the Borrower's Rights and Responsibilities on the promissory note you signed for your loan that you are responsible for providing your servicer with your most current contact information so we can be sure to reach you with important account notifications.

When you completed your federal student loan application, you listed several personal references. When we do not have a valid telephone number or valid mailing address for your account, we will contact your listed references by mail or telephone to obtain correct information.

You can conveniently update your address and phone information by logging in to Nelnet.com, clicking on My Info and Preferences and updating your information on the Personal tab. Then click Save Changes.


Credit Reporting

Nelnet reports credit information to the four national credit bureaus (Innovis, Experian, Transunion, and Equifax) on a monthly basis. Until the account reaches 90 days past due, the account is reported as being up to date (current). When the account reaches 90 days past due, the account is reported as delinquent. Once you have been reported to the credit bureaus as having an account that's delinquent, that information can remain on your credit history for up to seven years.

Complete and return the Release of Authorization form.

You can conveniently download a mortgage credit reference online by logging in to Nelnet.com and clicking Print Loan Summary Letter on the left.

You can reach each credit bureau by clicking the bureau name to be redirected to their website.

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