Press Releases

For Release: 2/22/2007

Contact: Eric Solomon, 202.659.2258

Chicago, Ill., February 22, 2007 – Nelnet Business Solutions, a Nelnet company and leading provider of billing, payment, commerce and payment plan solutions for higher education, announced the launch of its refunds management service through QuikPAY^® today. With this new service, students and authorized third parties are able to electronically receive refunds from institutions.

"With the addition of QuikPAY^®’s refunds management service, our students are receiving their funds a couple of days after we process the refund instead of waiting a week or more for their checks to be delivered - and they can use the money immediately without waiting for a deposited check to clear" explains Beth Stack, Director of Operations for the University of Pittsburgh. "Plus, the time our office has saved in reconciling and reporting is immeasurable. We also have absolutely no worries about maintaining the security of the student and parent bank account information since this is a fully hosted solution and Nelnet Business Solutions’ security exceeds all of the University’s stringent requirements and standards."

The refunds management service enables institutions to reduce administrative costs and eliminate long lines at the cashier's office by automating the entire refund process. The service benefits students and families and institutions alike. Students and families gain faster access to refunded money while institutions are provided detailed reports on the number and dollar amount of refunds, plus the ability to drill down to individual transactions. A webinar on the refunds management service is scheduled for the end of March with invitations being sent out soon.

"Having successfully deployed the service with the University of Pittsburgh, we are delighted to now offer this service to all institutions," stated David King, Executive Vice-President of Operations at Nelnet Business Solutions. "By collaborating with innovative schools such as the University of Pittsburgh, we have created a unique refunds management service based on the specific needs of higher education."

Nelnet Business Solutions, a Nelnet company, is a leading provider of campus-wide commerce services to over 600 higher education organizations serving more than 3.5 million students and families by delivering customer-centric electronic transaction processing, actively managed payment plan services and account and bill presentment solutions. Nelnet Business Solutions was formed in 2006 from the combination of infiNET and FACTS Management Company. With over 30 years of combined experience serving the business offices of colleges and universities, Nelnet Business Solutions is focused on delivering high quality, measurable results through solutions designed specifically for education.

QuikPay^® is a registered trademark of Nelnet Business Solutions.