FAQs

 

About Your Student Loan(s)

Does Nelnet own my 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.

How can I determine if my loan(s) is a Federal Direct Loan Program (FDLP) loan or a Federal Family Education Loan Program (FFELP) loan?

Log in to Nelnet.com, 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).

What is the difference between the Federal Family Education Loan Program (FFELP) and the Federal Direct Loan Program (FDLP)?

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

What is Manage My Account?

Manage My Account is a secure section of our website where you can view your account and loan details, make a payment, request to lower or postpone your payments, sign up for automatic payments through our KwikPay® service, and more. To access your online account, log in with your username in the upper left-hand corner of any page on Nelnet.com. If you haven’t created your online account, click Create an Account in the same location to get started.

How do I log in to my account at Nelnet.com?

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

To prevent yourself from being locked out, use the "Forgot Username" or "Forgot Password" links to retrieve the forgotten information before becoming locked out. If you are locked out of your account or you no longer have access to your email address on file, please contact us for assistance.

How do I register for an online account?

  1. Go to Nelnet.com and click Create an Account below the login.
  2. To create your account, enter your Social Security number and date of birth.
  3. Select a username and password based on the rules specified on the page and click Continue.
  4. Verify that your contact information is correct (make changes as needed) and click Continue.
  5. Select the checkboxes next to three security questions, answer the questions, and click Continue.
  6. Select one image from the displayed images to help you recognize that you are logging in to a legitimate Nelnet website, and click Continue.
  7. Review the terms and conditions.
  8. If you agree with the terms and conditions, check the checkbox stating "I have read and agree to the terms and conditions," and click Go to My Account.

Things to remember:
Your username may be any combination of 6 to 20 letters and numbers. It can't contain special characters ('?&%$#@+!~, etc.). It must begin with a letter. Your username won't be available for you to view through your account after you create it, so be sure to select a username you will remember.

Your password may be any combination of 8 to 16 characters. It must contain three of the following: at least one capital letter, at least one lowercase letter, at least one number, at least one of the following special characters (!,@,#,$,&,*). Your password won't be available for you to view through your account after you create it, so be sure to select a password you will remember.

The answers to the security questions are not case-sensitive, and you can use alpha, numeric, and special characters, as well as spaces.

What if I forgot my username?

  1. Go to Nelnet.com and click Forgot Username below the login.
  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
 

What if I forgot my password?

Go to Nelnet.com, enter your username on the left, and click Log In.

  1. If you are accessing the website from a private computer, you will be taken to the password page.
  2. Click Forgot Password.
  3. Validate your identity by entering the following information:
    1. Your Social Security Number
    2. Date of Birth (mm/dd/yyyy)
  4. Click "Continue"
  5. If all the information matches what is on file for your account, you can:
    1. Have a temporary password sent to your email address on file Or
    2. You can answer a security question and be allowed to log in
     
 

Why should I enable my cookies while on this site?

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.

How do I enable my cookies?

We have provided instructions for setting up cookies on Chrome, Firefox, and Internet Explorer internet browsers below. Please 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 Chrome menu.
  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 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 the Privacy panel.
  4. Set Firefox will: 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.
    • Keep until: ask me every time: Displays an alert every time a website tries to send a cookie, and asks you whether or not you want to store it.
     
  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.
 

How do I update my contact information?

After you have logged in to Nelnet.com, click My Info and Preferences on the left. Update your contact information on the Personal tab and click Save Changes.

Can I change the answers to my predefined security questions and preselected image at a later time?

Yes. Once you have logged in to Nelnet.com, click My Info and Preferences from the main menu. Then click the Password/Security tab. You will have the opportunity to change your password, security questions, and/or image.




About Repayment

Do I have to pay back my student loan(s)?

Yes, you are responsible for paying back any student loan(s) taken out in your name. You need to repay the principal (the amount borrowed) and the interest (finance charges on the principal). Failure to make your monthly payments may result in additional fees. Click here for more information on the types of fees that may apply.

If you have 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 Nelnet.com and click Lower My Payments to request a different repayment plan or Postpone My Payments to apply for a deferment or forbearance.

How long do I get to repay my loan(s)?

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, or 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.

How do I know when I have a payment due?

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

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

What if I can't afford to pay my minimum monthly payment?

If you are concerned that making your payments may become difficult, contact us immediately to see what options may be available to you.

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, and Extended repayment plans. If you are having trouble making your monthly payment, log in to Nelnet.com and click on Repayment Options.

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

What if I'm behind on making payments (my loans are delinquent) at the time I am making a request for a new repayment plan?

To bring your account up to date and get a new repayment plan, you may make the payments that are needed to bring your loan current. If you are unable to make these payments, Nelnet may be able to grant you a forbearance on your loan to cover the time you were behind on making payments. If you are having trouble making your monthly payment, log in to Nelnet.com and click on Lower My Payments on the left to explore your options.

What is a grace period?

For Stafford loans. Once you're done with school, or if you drop below half-time status as a student, this loan enters 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 student 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 as a student. 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.

Do parents who borrow PLUS loans get a grace period?

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 as a student. During this postponement of payments, interest will continue to accrue if not paid. If you haven't yet pursued this option, you can request this postponement (called a Parent PLUS Borrower Deferment) directly from us by calling 888.486.4722.

How can I pay less interest?

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 loan or by paying more than the minimum due. All of these scenarios cause less interest to accrue overall.

Can I make payments while I’m in school?

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 loan, 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.

Why don’t I receive billing statements while I’m in school?

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 your 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 account at Nelnet.com 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 PIN—if you don't know it, get a new one.

What’s the benefit of making payments on a subsidized loan while in deferment?

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 of the loan, so you’ll pay it off faster and pay less interest.




Statements, eStatements, and Correspondence

Will I receive a monthly statement?

Your statement is generated about three weeks prior to your due date. If you have elected at Nelnet.com to receive eStatements, your electronic statement will show up in your My Secure Messages inbox after logging in at Nelnet.com. If you have not signed up to receive eStatements, you will get your statement in the mail. If, for some reason, your statement doesn't arrive as planned, you are still responsible for making your payment by the due date. You can verify your due date and the payment amount due at any time by logging in to Nelnet.com. You can also sign up for text message alerts before, on, or after your due date.

Note: If you are in school, in your grace period (the six months following graduation or enrolling less than half-time, during which payments are not due on certain loans), or in a deferment or forbearance to postpone your loan payments, you may not receive a monthly account statement.

How do I read my statement?

Why do I receive more than one monthly statement?

If you have two or more account numbers, you will receive two or more statements. View an example of each statement here:

View statement sample for account beginning with the letter "D" or "J"
View statement sample for account beginning with the letter "E" (loans were originated or currently owned by the Department of Education)
 

What is My Secure Messages?

My Secure Messages, Nelnet's convenient and secure online message system, is the area of Nelnet.com where you can access your monthly statements and correspondence online once you log on at Nelnet.com. You must elect to receive your information electronically in order to access your statements and correspondence in the My Secure Messages inbox. The following information will guide you through this message platform.

How do I access My Secure Messages?

After you have logged in to Nelnet.com, click My Secure Messages on the left. The number in parentheses tells you how many new, unread messages are in your My Secure Messages inbox.

How will I know when I have a new message in My Secure Messages?

When a new message has been delivered to your My Secure Messages inbox, Nelnet will send an e-mail to the address on file for your account. Every e-mail will include a link to the Nelnet.com login page. After logging in with your username and password, you will be taken directly to your My Secure Messages inbox, which will allow you to quickly and securely view your statements and other correspondence online.

What if I don't get my e-mail reminder telling me I have a new statement or correspondence to view in My Secure Messages?

If your personal e-mail address is ever invalid or removed from your Nelnet account, no e-mail notifications will be sent; however, messages will still be delivered to your My Secure Messages inbox, and you will still be responsible for making your monthly payments on time. To help us best keep you informed, please keep a valid e-mail address on file at all times.

How can I update the e-mail address on file with you so I still get e-mail reminders?

After you have logged in to Nelnet.com, click My Info and Preferences on the left. Update your e-mail address at the bottom of the Personal tab and click Save Changes. If you have yet to include an e-mail address in your contact information, you will be prompted at login (but not if your address listed is invalid).

If I did not receive my statement, am I still responsible for making my monthly payment?

Yes. If, for some reason, your statement doesn't arrive as planned, you are still responsible for making your payment by the due date, and failing to make your monthly payment(s) may result in fees. Click here for more information on the types of fees that may apply. You can verify your due date and the payment amount due at any time by logging in to Nelnet.com.

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

What if I don't receive my statement and I miss a payment? Will late fees be charged?

If your personal e-mail address is ever invalid or removed from your Nelnet account, no e-mail notifications will be sent; however, messages will still be delivered to your My Secure Messages inbox, and you will still be responsible for making your monthly payments on time. If late payments are received, a late fee may be charged, even if you don't receive an e-mail notification that your statement is available in My Secure Messages. To help us best keep you informed, please keep a valid e-mail address on file at all times. You can also sign up for text message alerts before, on, or after your due date at Nelnet.com.

If for any reason your monthly statement is not available in your My Secure Messages inbox, you are still responsible for making on-time payments and can easily do so online at Nelnet.com, via our Loan Assist app for iPhone and Android, or by calling 888.486.4722.

The easiest way to ensure your payment is made on time is by making automatic monthly payments—just sign up for our KwikPay® service, which pulls your payment from your checking or savings account each month.

I am currently mailing in payments. What do I do if I can't find a statement stub?

If you aren't sure where to mail your payment or don't have a stub, you can also pay using one of these other convenient payment methods:

  • Online payments—After you have logged in to Nelnet.com, click Pay Now on the left.
  • KwikPay®—You can have your monthly payments auto-debited from your checking or savings account by signing up for KwikPay. Log in to Nelnet.com and click Manage KwikPay (auto-debit) on the left to sign up.
  • Loan Assist app—Get the Loan Assist app for iPhone and Android devices to make your payment on the go.
  • iPhone® is a registered trademark of Apple, Inc. Android™ is a registered trademark of Google, Inc.

If you choose to mail your payments, you must include the bottom portion of your monthly statement with your check to ensure accurate processing. You can access My Secure Messages (if you are signed up to receive eStatements and other electronic correspondence), locate your current statement, and print it. Detach the bottom portion of your statement and mail it with your check to the address provided on your statement. Please also make sure that the payment is mailed to the address located on your payment coupon. You must mail your payments to the address shown on the corresponding statement to have them applied correctly to your loans. Sending your payment to the wrong address could result in processing delays or having your payment returned to you.

How can I get a printed copy of my billing statement?

If you have signed up for eStatements and other electronic correspondence to receive notifications in your online inbox called (My Secure Messages), you can print your billing statement online by logging in to Nelnet.com and clicking My Secure Messages on the left. When the statement is displayed on your browser window, select the Print Page button.

If you haven't signed up for My Secure Messages, you won't have access to previous statements. However, you can always log into Nelnet.com to see your current amount due.

What happens if I accidentally delete messages from My Secure Messages? Will I be able to retrieve them on my own through My Secure Messages?

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

Can I view my previous statements and correspondence online? Will they be deleted after a certain amount of time?

Once you've signed up for electronic correspondence, your statements and messages are stored in My Secure Messages for 12 months, after which they are deleted. To retain your statements and messages prior to the end of the 12-month time frame, you may save them to your computer, a CD, or a flash drive. Note: If you delete a statement or message from My Secure Messages, it cannot be restored.




Authorized Payer

My parent(s) (or a third party) is making payments on my account. How can he/she continue making payments on my account if a statement isn't received in the mail?

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).

I am a co-maker on a borrower's account. Will I be able to access correspondence about that account through My Secure Messages?

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

How can I make a payment?

Making payments on your student loan with Nelnet is easy! With options to pay anytime, anywhere, you can manage your account your way.

Ways to Pay:

Make automatic monthly payments through KwikPay®

Make automatic monthly payments through KwikPay®, knowing that your payments will arrive on time. Our KwikPay service automatically deducts your monthly payment (ACH) from your checking or savings account and posts it on your monthly due date while your student loans are in an active repayment status*, whether your account is past due or paid ahead (when you’ve paid more than the minimum due). If your payment posting date falls on a weekend or holiday, the payment will be deducted from your bank account the next business day. Your Nelnet account will reflect that your payment was made on your due date.

You may be eligible for a 0.25% interest rate reduction** with this option while your student loans are in an active repayment status. Log in to Nelnet.com and select Manage KwikPay (auto-debit) to get started.

When signing up, you may choose to have an additional amount above your minimum amount due automatically debited from your bank account each month. Doing so will allow you to pay off your student loan faster.

*KwikPay will not debit payments when your account is paid ahead while your loans are on an Income-Based, Income-Contingent, or Pay As You Earn Repayment Plan, or Reduced Payment Forbearance.
**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.

Pay via mobile apps
    Make a payment on the go! The Nelnet Loan Assist mobile app for iPhone and Android lets you make a payment whenever it's convenient for you. The app also displays upcoming due dates, interest rates, and monthly payment amounts at a glance.
Make online payments
    Make a one-time online payment, schedule future payments, view your statement, or authorize others to make payments by selecting Payment Profiles under My Info and Preferences in Nelnet.com.
Mail in a payment
    Mail a payment to the address (including the P.O. Box) on your statement, and your payment will be processed within five business days of receipt. Remember, don't send cash through the mail.
Pay through your bank with its bill pay service

Try your bank's online bill pay service, but make sure they don't charge a fee; if they do, sign up for automatic payments through KwikPay (as mentioned above—you may even get an interest rate reduction). You'll need the following information for online bill pay services:]

  • Payee: Nelnet
  • Account Number: Your nine-digit account number as shown on your statement (do not use the D, J, or E at the beginning of the number)
  • Payment Address: The P.O. Box on the bottom of your statement (see all mailing addresses). The mailing address may vary for each loan.
 

IMPORTANT: If you have both Nelnet-serviced (account number starts with D or J) and Department of Education-owned (account number starts with E) loans, you must make your payments separately to have them applied correctly to your loans.

Remember to write your account number on your check (including the D, J, or E), always include the coupon portion, and clearly check the box on the front of the coupon if you have a change of address or require special instruction processing. Payments are effective the day received and are processed within five days of receipt. Do not send cash, as it will be returned to you, and your payment will not be applied.

How do I make a payment online?

Just follow these steps:
  1. Log in to Nelnet.com and click Pay Now on the left.
  2. Review the payment amount information, make changes to the amounts as desired, complete your checking/savings account information, and click Make a Payment.
  3. On the Confirm Payment Details page, verify that the information entered is correct.
  4. Read the terms and conditions at the bottom of the page, check the box to acknowledge, and click the Pay Now button to submit your payment.
 

Can your online payment system store my information so I don't have to re-enter it next month?

Yes. You can create a payment profile to reduce the time required to enter future payments. Payment 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.

What is the difference between KwikPay® (auto debit) and Nelnet's online payment system?

While your student loans are in an active repayment status, KwikPay will automatically deduct your payment on your due date each month, including when your account is past due or you’ve paid more than the minimum due in recent months. 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, even when your student loan payments are postponed with a deferment or forbearance. Plus, you can direct your payment to specific loan groups.

When will my payments be posted to my Nelnet account?

It takes approximately two business days to process an online payment, but when it is posted to your Nelnet account, it will be effective as of the date you made your payment.

How long will it take from the time I make an online payment until my bank account is debited?

It takes approximately two business days to debit your bank account. Your bank may take additional time to post the payment to your checking or savings account.

What happens if I pay more than the payment amount?

You can always pay more than the minimum due with no penalty. Per regulations, all payments are applied to fees first, then interest, and finally principal unless your current repayment plan is Income-Based Repayment. In this situation, your payments would first be applied to interest, then to fees, and finally to principal.

When you pay more than the minimum due, then you've covered future payments (called paid ahead), and your due date may advance more than one month. Any payments you make while paid ahead are still applied to your account as we receive them, which means you pay your loan balance down faster!

If you have paid ahead, not only will you pay down your debt quicker, saving you money in the long run, but your due date advances, leaving you some time to catch up on other bills if you find yourself falling behind.

How can I view the details of all the payments I have made in the past (payment history)?

To view your payment history, log in to Nelnet.com and click My Payments on the left.




Repayment Plans

How can I change my repayment plan?

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 Nelnet.com and click on Lower My Payments on the left.

How do I know which repayment plan I am eligible for?

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

How do I know if my repayment plan request was approved?

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

Will the total amount I have to repay stay the same if I change repayment plans?

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.

Will switching repayment plans or postponing my payments using a deferment or forbearance hurt my credit history?

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!

Why don't I qualify for the income-driven repayment plan I applied for?

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.

Are there any fees for changing my repayment plan?

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.

What is the process for applying for an income-driven repayment plan (Income-Based, Income-Contingent, or Pay As You Earn Repayment)?

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

How do I renew my income-driven repayment plan?

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.
 

My loans are in an income-driven repayment plan and my income or family size has changed. How can I have my payment amount re-evaluated to more accurately reflect my income?

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.
 

What happens if I do not renew my income information, or if I become ineligible for a reduced payment amount while enrolled in an income-driven repayment plan?

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.

What if I previously have not qualified for a reduced payment amount on my income-driven repayment plan, but believe I may now qualify due to a change in my income or family size?

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

What is a deferment?

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.

What is forbearance?

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 Nelnet.com and click Postpone My Payments (Deferment/Forbearance) on the left.

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

How do I apply for a deferment or forbearance to postpone my payments?

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

When should I apply for a deferment or forbearance?

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 Nelnet.com and click Postpone My Payments (Deferment/Forbearance) on the left.

How long does it take my deferment or forbearance to be reviewed?

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.

What happens after I submit my deferment or forbearance form?

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.

Does postponing my payments with a deferment or forbearance affect my repayment term?

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 Nelnet.com and click Postpone My Payments (Deferment/Forbearance) on the left.

How long will my deferment or forbearance last?

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.

How do I renew my deferment or forbearance?

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

Can I consolidate my student loans with Nelnet?

No, you can't consolidate your federal student loans through Nelnet. Please see LoanConsolidation.ed.gov for details on the Department of Education's loan consolidation program.




KwikPay® (auto debit)

How do I schedule automatic monthly payments?

To schedule recurring, automatic monthly payments, sign up for KwikPay® online. KwikPay is a payment method that automatically deducts your monthly payment from a checking or savings account that you designate when your student loans are in an active repayment status. This convenient, simple payment option saves you time and money and offers you the peace of mind that comes with knowing that your student loan payments are being made in an accurate and reliable manner.

The fastest way to enroll is online:

  1. Log in to Nelnet.com and click Manage KwikPay (auto-debit) on the left.
  2. The minimum monthly payment amount due will appear on the screen. If you’d like KwikPay to auto-debit more than the minimum due each month, enter the additonal amount you would like to have included in your auto-debit in the Additional Amount field.
  3. Enter your bank account information in the fields below.
  4. Read the Terms and Conditions and Electronic Signature Agreement. Check the box below each section to acknowledge that you have read and agree to the terms.
  5. Complete the Electronic Signature fields and click eSign.
  6. Review your submitted information and click “OK, Setup KwikPay!” to confirm. You may print your confirmed KwikPay information on the following screen.
 

What are the advantages of making automatic monthly payments through KwikPay®?

KwikPay is convenient, safe, and secure. This payment option offers you the peace of mind that comes with knowing your student loan payments are being made in an accurate and reliable manner each month.

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

You may also qualify for a .25% interest rate reduction—sign up at Nelnet.com.

When will my first automatic monthly payment be debited through KwikPay®?

The first debit date depends on your current monthly due date and the date you are signing up for KwikPay. If your next monthly due date is within 6 days of the date you are signing up for KwikPay, your first debit will occur on your due date the following month. If your next monthly due date is greater than 6 days from the date you are signing up for KwikPay, your first debit will occur on your current month's due date.

Example: If today is June 1, 2013, and your due date is June 6, 2013, KwikPay will debit on July 6, 2013. If today is June 1, 2013, and your due date is June 10, 2013, KwikPay will debit on June 10, 2013. You will receive information when signing up electronically and/or a confirmation letter that indicates the first debit date.

How can I view or cancel currently scheduled payments?

  • To view your scheduled, one-time online payments, log in to Nelnet.com and click My Payments on the left. Check the box to the right of any scheduled payments you want to cancel and click the Cancel Selected button. Note: Online payments must be cancelled before 4:00 p.m. (Eastern) on the date they are scheduled to debit from your bank account.
  • If you'd like to cancel an upcoming KwikPay® payment, log in at Nelnet.com and click Manage KwikPay (auto-debit), or call us at 888.486.4722. If your next monthly due date is less than 6 days from the date you want KwikPay to be cancelled, your next debit will occur and KwikPay payments will be discontinued beginning the following month.

 

What happens if my scheduled monthly automatic payment falls on Saturday, Sunday, or a holiday?

The payment will be debited from your bank account the next business day, but you'll still receive credit for paying on your due date—it is not marked as late.

Will I still get a statement while making automatic monthly payments through KwikPay®?

Yes, you will continue to receive statements while making automatic monthly payments. You can sign up to receive statements and other correspondence electronically—a fast, safe, and paper-free approach to mail. Just log in to Nelnet.com and click My Secure Messages on the left to get started.

What if I don't have enough money in my bank account on the day you debit my automatic monthly payment through KwikPay®?

If a payment is not honored by the bank due to non-sufficient funds (NSFs), you may be charged an insufficient funds fee of up to $25. Two recurring NSFs may result in the termination of your KwikPay agreement. You also could be charged additional fees and/or lose an interest rate reduction incentive that you would have previously earned had you made on-time payments.

When am I eligible to enroll in KwikPay?

  • When your student loans are in an active repayment status, meaning you have a monthly payment due each month
  • When you have paid more than the minimum due on your student loans (called paid ahead). While your student loans are in an active repayment status, KwikPay will automatically debit your monthly payment from your bank account, even if your student loans are paid ahead.
  • When your student loan account is past due. If you qualify for a hardship forbearance, Nelnet will bring your account current before the first debit occurs. Outstanding accrued interest will be added to your principal balance.
  • When you are in school or in a six-month grace period and your student loans are no more than 180 days away from entering a repayment status. Certain student loans typically enter a repayment status six months after graduation or separation from school. Note: Your first debit will not occur until your first scheduled due date. You can verify your due date and payment amount due anytime when you log in at Nelnet.com.
  • When your payments are postponed with a deferment or forbearance, and your student loans are no more than 180 days away from entering a repayment status. However, KwikPay will not debit your bank account until your deferment or forbearance has ended and your student loans have entered an active repayment status.
 

Can I request that KwikPay® debit an amount that is greater than my normal monthly amount due?

Yes. You may request an alternate payment amount through Nelnet's KwikPay service. The new payment amount must be greater than the current monthly amount due. The application you complete will prompt you to specify the amount of the payment you wish to make.

Note: Choosing to pay more than your normal monthly amount due may cause your due date to advance greater than one month (called paid ahead status). Rest assured, we apply the extra funds to your loan, so you pay your loan balance down faster!

Customers whose student loans are on an Income-Based, Income-Contingent, Income-Sensitive, or Pay As You Earn Repayment Plan, or a low-pay forbearance may enroll in KwikPay, but are not eligible to have an additional amount automatically debited. If you enroll in KwikPay and your loans are on one of these repayment plans, you may make an extra payment anytime by logging in at Nelnet.com and clicking Pay Now on the left.

When will KwikPay debit a student loan payment from my bank account?

KwikPay will only debit a payment from your bank account on your due date when your student loans are in an active repayment status, including if your Nelnet account is past due or paid ahead (when you’ve paid more than the minimum amount due).

You may make payments anytime by logging in at Nelnet.com and clicking Pay Now on the left or via mail to the address on your statement.

How do I cancel or make changes to my existing KwikPay® setup?

You can cancel or make changes to KwikPay at any time. The fastest way to cancel or make changes (change the bank account number or payment amount) to KwikPay is to log in to Nelnet.com and click Manage KwikPay (auto-debit) on the left to submit your request electronically.

The first debit date depends on your next monthly due date and the date you are signing up for KwikPay. If your next monthly due date is within 6 days of the date you are signing up for KwikPay, your first debit will occur the following month. If your next monthly due date is greater than 6 days from the date you are signing up for KwikPay, your first debit will occur on your current month's due date.

Example: If today is June 1, 2013, and your due date is June 6, 2013, KwikPay will debit on July 6, 2013. If today is June 1, 2013, and your due date is June 10, 2013, KwikPay will debit on June 10, 2013. You will receive information when signing up electronically and/or a confirmation letter that indicates the first debit date.

Can I have automatic monthly payments debited from a spouse's or parent's bank account?

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 Nelnet’s free, online payment system, but you will need to set him or her up as an authorized payer.

Can I designate how to apply my automatic monthly payment through KwikPay® to my loans?

No. Payments are distributed across all of your active loans. If you want to direct your payments to specific loans, you must use the one-time payment option under Pay Now.

What if I am making my final loan payment as an automatic monthly payment through KwikPay®?

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




Special Instruction Payments

When should I use special instruction payments?

You should make a special instruction payment when:

  • You are making a payment greater than the amount due and do not want to advance your due date more than one month.
  • You are making a payment greater than the amount due and would like to direct the excess to a specific group.
  • You would like to pay off any or all loans.

A request to have your payment applied only to your loan(s) and/or group(s) with active balances remaining does not require a special instruction.

How do I request that you process my payment using my special instructions?

If making a payment online, the Nelnet online payment system allows for you to make a special instruction payment for both Nelnet-serviced loans and loans owned by the Department of Education. This provides you with the ability to make a payment for all of your accounts and specify the account and group ID for which you would like to make a payment.

If your payment amount is great enough to cover future payments (called a paid ahead status), your next due date moves ahead to the time when the funds you've already paid no longer cover the monthly payment. When you provide special payment instructions with a payment that would put your account in this situation, you can specify that you wish to not have your next payment due date advanced.

Note: You must not be past due (delinquent) in order to make a special instruction payment.

Please follow these instructions to make a special instruction payment online:
  1. Log in to Nelnet.com and click Pay Now on the left.
  2. Click the Allocate/Edit Payment button to the right of the area marked Payment Amount, and a new box will appear below.
  3. You may specify the payment amount by account, or click the arrow button next to the account number to specify the payment amount per loan group. If you do not designate how the payment should be applied, it will be distributed across all of your active loans in repayment.
    Note: If you do not want to advance your due date, click the arrow button next to the account, then click the arrow next to each group, and check the Do Not Advance Due Date box. This will ensure your normal monthly payment amount will be due the following month if you pay enough now to cover next month's payment.
  4. Once the payment amount(s) is entered, fill in the checking/savings account information and click Make a Payment.
  5. On the Confirm Payment Details page, verify that the information entered is correct.
  6. Read the terms and conditions at the bottom of the page, check the box to acknowledge, and click the Pay Now button to submit your special payment.

Please be advised that certain Internet providers and firewalls may interfere with your ability to make an online payment. Should you experience any difficulty with this process, please contact us.

If making a payment by mail:
Mail your payment, account number, and/or payment coupon and special instruction request to the following address for Nelnet loans (ones with a D or J at the beginning of the account number):

Nelnet
P.O. Box 82501
Lincoln, NE 68501-2501
 

If you mail your payment with a special request to our regular payment address (P.O. Box in Omaha, Nebraska), please be sure to check the box on the front of your payment coupon indicating you have a special request. Allow 5 to 10 days for your special request to be processed.

Payments for Department of Education-owned loans (account number starts with E) should be mailed to:

Department of Education
P.O. Box 740283
Atlanta, GA 30374-0283

IMPORTANT: If you have both Nelnet-serviced and Department of Education-owned loans, you must make your payments separately to the address shown on each statement in order to have them applied correctly to your loans. Always write your account number on your check so it can be properly applied to your balance.

If one or more of my loans is past due, can I still request that you process my payment based on my special instructions?

If one or more of your loans is past due (delinquent), we will not be able to honor your special payment instruction request because your payment must be applied across all delinquent loans to bring them as up to date as possible.

What happens if I tell you to apply my payment to a specific group but it has a zero balance or that group does not exist?

If the group or loan to which you have requested the payment be applied was previously paid in full, consolidated, or not found, the payment will be applied to any remaining loans with active balances.

Can I change my monthly payment due date?

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.

Can I have my payment applied to interest or principal only?

Per regulations, all payments are applied to fees first, then interest, and finally principal unless your current repayment plan is Income-Based Repayment. In this situation, your payments would first be applied to interest, then to fees, and finally to principal. If you send in a payment greater than the minimum amount due, the additional amount will automatically be applied to your principal balance after all outstanding interest and fees are paid. Nelnet cannot apply payments in a way that does not conform to regulations.




Interest & Fees

How is student loan interest calculated?

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

What does it mean that interest is capitalized?

During certain periods when a payment is not required to be made on a loan, interest continues to add up (accrue) based on the principal balance of the loan. When this interest remains unpaid, 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, 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.

How does interest accrue if I am late on a payment?

Interest adds up (accrues) on the unpaid principal balance during the periods between the dates we have received payments. If the accrued interest is not paid, the excess interest remains due on your loan(s). Interest accrues using the simple daily interest formula:

    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

What fees could potentially be added to my loan?

Two types of fees could potentially be added to your federal student loan: late fees and 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 the 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: Most lenders charge a fee if your bank returns your payment for any reason. Some of the reasons a payment may be returned are that there are insufficient funds in the specified account, the bank is unable to locate the account, or a stop payment order has been placed on a check or payment.

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




Payoff Information

Why is my current principal balance different from my payoff amount?

Your current 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). You must mail your final payoff amount to Nelnet for processing. If the payoff is not received in time to cover all accrued interest, you may need to send an additional payment.

IMPORTANT: If you have both Nelnet-serviced (account number starts with D or J) and Department of Education-owned (account number starts with E) loans, you must make your payoff payments separately to have them applied correctly to your loans.

How do I find the amount needed to pay my loans in full?

Online:
When you log in to Nelnet.com, click Pay Now on the left. Then click Allocate/Edit Payment to view the details of each account. If you click the arrow to the left of each account, you'll see the Outstanding Balance below the Payment Amount box. You can enter the full outstanding balance amount in the Payment Amount box to pay that account 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 the Total Payoff line of your monthly statement. The payoff amount is applicable through the date shown on the Payment Due Date line.

View example

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.

What if the amount I pay is not quite enough to pay my loans in full?

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.

How will I know that you have received and processed my payment to pay off my 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 view this confirmation by logging in to Nelnet.com and clicking on My Payments.




Tax Information

What information will I need about my student loans to file my taxes?

You can access your IRS Form 1098-E (detailing the interest you've paid on your Nelnet student loans) on Nelnet.com. Consult your tax advisor to see if you can deduct this interest when filing your taxes.

Will Nelnet provide my tax information to me?

Yes, this information is provided to all borrowers, regardless of the amount of interest paid.

If your interest paid/debt cancelled was greater than $600: We will send your tax information on your monthly statement in January (if you normally receive monthly statements), or on a separate IRS Form 1098-E (if you do not normally receive monthly statements).

If your interest paid/debt cancelled was less than $600: You can download and print your tax information after logging in to Nelnet.com. Click Print My Tax Info to get started. Additionally, you can view your tax information on your January statement (if you normally receive a monthly statement).

Regardless of the amount of student loan interest you paid in the previous year, Nelnet provides your tax information to you online, which is updated in mid-January and is available for the entire year.

In addition, Nelnet provides your tax information via our automated phone system. You can hear this information 24 hours a day by calling 888.486.4722. Tax information is generally available via the phone system by the middle of January each year and remains available through the end of April.

Why does Nelnet provide information regarding student loan interest paid in the prior year?

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. Log in to Nelnet.com and select Print My Tax Info.

Your January 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 will be mailed to you.

Can I deduct the student loan interest I paid in the prior year on my income tax return?

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.

What if I need another copy of my IRS Form 1098-E?

This form is an informational form and does not need to be filed with your tax return; however, if you want a paper copy of your tax information, you can print one from your online account starting in January.

I am not the borrower, but I make payments on a student loan. Can I claim the student loan interest I paid when I file my tax return?

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

When am I considered delinquent (late) on my loan?

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 Nelnet.com and click Lower My Payments to request a different repayment plan or Postpone My Payments to apply for a deferment or forbearance.

What if I'm behind on my payment(s) or foresee difficulty making my payment(s)?

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 Nelnet.com and click Lower My Payments to request a different repayment plan or Postpone My Payments to apply for a deferment or forbearance.

Why do I continue to receive phone calls and letters from Nelnet regarding my payments being overdue when I have made payment or applied for a deferment or forbearance to bring my account up to date?

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.

Why do I receive phone calls from Nelnet and a guaranty agency?

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.

Why do you ask me for my complete mailing address, phone number, and e-mail address when you call me?

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.

Why did you contact my father, mother, relative, or an acquaintance regarding my loan?

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

How often do you report my loan information to the credit bureaus?

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.

How do I authorize Nelnet to release information about my account to a third party?

Complete and return the Release of Authorization form.

I am applying for a mortgage and need an account summary letter. How can I request a letter to be sent to the company?

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