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Credit Reporting

As your student loan servicer, Nelnet reports information about your student loans to the three major credit agencies. Based on the information provided, each individual credit agency uses their own unique scoring model to determine your FICO credit score. The higher your score, the more likely you are to be approved for new credit, or offered a low interest rate.

What Student Loan Information is Reported to Credit Agencies?

Nelnet provides this information about your student loans to the credit agencies on a monthly basis. See the Account Information Appendix for more detailed information on each section.

Student Loan Information Reported to Credit Agencies
Consumer Information Includes identifying information, such as your name, address, telephone number, and Social Security Number (SSN).
ECOA Code Defines your relationship to the account. This will commonly indicate Individual, but it may also include Joint Contractual Liability or Co-maker/Maker if the loan includes an endorser or a co-maker.
Account Status Indicates the most recently reported status of the loan, such as open or closed, and if the loan is current or delinquent.
Special Comments Notes specific information about your loan (e.g., In a Forbearance or Account Closed Transferred).
Terms of the Loan Includes Portfolio Type, Account Type, Terms Duration, and Terms Frequency.
Important Dates Includes the Date Opened, Date of the Last Payment, Date Closed, and Date of First Delinquency.
Specific amounts that pertain to the loan Includes the Current Balance, Original Loan Amount, Actual Payment Amount, and Scheduled Monthly Payment Amount
Payment History Includes the payment history for each month in the past (up to 7 years), and will indicate any months the loan was reported as being in a delinquent status.

What are Nelnet’s Standard Reporting Practices?

These credit reporting practices apply to all of the student loans serviced by Nelnet.

  • We report to the credit agencies on the last day of each month. Each individual loan appears as one unique trade line on your credit report.
  • We report a loan as delinquent once it’s 90 days or more past due.
  • Because we’re required to treat all borrowers equally and fairly, we cannot complete goodwill credit update requests.

How Does Credit Reporting Change During the Life of a Student Loan?

Your student loans flow through different phases until paid in full. What we report for each section of information also changes.

Reporting Changes as Loans Move Through Phases
Section While In School or Grace Period During Repayment After Paid In Full
Account Status The loan is “current,” meaning up to date and not past due.

Whether the loan is current (less than 90 days past due), or delinquent (more than 90 days past due).

Delinquent reporting falls into 30-day intervals from 90, 120, 150 and 180+ days past due.

Indicates how the loan was paid off:

  • Account Transferred: loan that are transferred or defaulted
  • Paid or Closed Account/Zero Balance: loans that are considered paid in full

Loans that close will be given a Payment Rating. This indicates if the account was current or past due at the time of closing.

Current Balance

Reflects the total of the current principal and accrued interest of the loan.

Note: Interest can accrue on certain loan types even when a payment isn’t required, increasing your balance and impacting your credit score.

Payment History Indicates the loan was current for every month that the loan was in an In-School or Grace status. For each month, lists if the loans are current or delinquent. If delinquent, includes if 90, 120, 150 or 180+ days past due. blank 
Special Comment blank  Indicates if the loan is in forbearance. Notes if your loans are transferred, defaulted, or consolidated.
Terms of the Loan blank  If payments are active, indicates the duration of the loan. No terms listed if in deferment. blank 
Important Dates blank 
  • Date of last payment
  • Date of first delinquency
  • Date the loan was paid in full
  • Date of first delinquency (if Payment Rating was past due)
Specific Amounts blank 
  • Current balance
  • Scheduled monthly payment amount
  • Actual payment amount
  • Current balance and scheduled monthly payment reported as $0.

Account Information Appendix

ECOA Code: Defines the relationship of the primary consumer to the account and designates the account as joint, individual, etc., in compliance with the Equal Credit Opportunity Act. ECOA Codes include:

  • Individual: This consumer has contractual responsibility for this account and is primarily responsible for its payment.
  • Joint Contractual Liability: This consumer has contractual responsibility for this joint account.
  • Co-maker or Guarantor: This consumer is the co-maker or guarantor for this account, who becomes liable if the maker defaults.
  • Maker: This consumer is the maker who is liable for the account, but a co-maker or guarantor is liable if the maker defaults.

Account Status: Identifies the current condition of the account.

Payment Rating: Identifies whether the account was current or past due at the time of closing.

Special Comment: Used in conjunction with Account Status and Payment Rating to further define the account.

Portfolio Type: Identifies the type of loan and how it will be repaid. Nelnet loans are all classified as Installment, meaning the loan is repayable in installments in set monthly amounts.

Account Type: Identifies the account classification. Nelnet loans are all classified as Education.

Terms Duration: Identifies the original terms for the life of the loan and is displayed as number of months. This will be blank if the Terms Frequency is deferred.

Terms Frequency: Reports the frequency for payments due. During In-School or Grace status, or deferment, will be reported as deferred. All other statuses report as Monthly.

Date Opened: Identifies the date the account was originally opened which will be the 1st disbursement date.

Date of Last Payment: Identifies the date of the most recent payment received.

Date Closed: Identifies the date the loan was paid in full.

Date of First Delinquency: Represents the date a loan went 30 days past due if the loan was reported delinquent in the most recent reporting. This includes a loan that was delinquent at the time it closed.

Current Balance: This equals the principal balance plus any accrued interest and fees at the time of reporting. This will be $0 if the trade line is closed.

Amount Past Due: This equals the total amount of payments that are 30 days or more past due at the time of reporting. This will be $0 if the trade line is closed or has a current Account Status.

Original Amount: Identifies the original amount of the loan, excluding interest payments.

Actual Payment Amount: Identifies the amount received on the Date of Last Payment.

Scheduled Monthly Payment Amount: Identifies the regular monthly payment amount due. Will be $0 if the loan is closed or qualifies for a $0 payment plan.

Payment History: Contains up to 7 years of consecutive payment activity.


These are definitions of some common credit reporting terms.

Accrued Interest: Interest that accumulates on the unpaid principal balance of a loan.

Consumer Account Number: The unique number assigned to a trade line by a creditor to identify the account with them. Each individual loan Nelnet services will be given a unique consumer account number and be reported as one trade line. This is not the account number a consumer will see on their statements from Nelnet.

Credit Report: A report containing detailed information on a person's credit history, including identifying information, credit accounts and loans, bankruptcies and late payments, and recent inquiries.

Credit Reporting Agency: A business that maintains historical credit information on individuals and businesses. They receive reports from lenders and various other sources which are compiled in a credit report that includes a credit score when issued. The four credit agencies are Equifax, Experian, Transunion, and Innovis.

Credit Score: A number, generally between 300 and 850, provided in a credit report and used by a lender as a predictive indicator of a consumer’s likelihood to repay a loan. The credit score may be used by the lender to determine eligibility and set the terms of a loan, such as the interest rate and fees.

Delinquent: An account that is not being paid on time. Payments become delinquent when they are not received by the due date. Nelnet will begin delinquent reporting when a loan reaches 90 days past due.

Default: The failure of a consumer to repay a loan according to the terms of the promissory note. For federal student loans default occurs at 270 days delinquent, and has a negative effect on a credit score.

Deferment: A period during which a consumer may postpone loan payments. For certain types of loans, the federal government pays the interest that accrues during a deferment period. For unsubsidized loans, the consumer is responsible for paying the interest that accrues during a deferment period, and any unpaid interest is added to the loan balance when the deferment ends (this is called capitalization).

Forbearance: Forbearance allows the consumer to temporarily postpone making payments, or to make lower payments, on a loan for a specific length of time.

Rehabilitation: The process of bringing a loan out of default and removing the default notation on a consumer’s credit report.

Repayment: The period of time during which a consumer is required to make payments on a loan. The repayment period can be lengthened if the consumer makes lower payments or postpones payments. The repayment period can be shortened if the consumer makes additional payments.

Trade line: A trade line is a record of activity for any type of credit extended to a consumer and reported to a credit reporting agency. The trade line records all of the activity associated with an account. Each trade line is assigned a unique Consumer Account Number.!what-to-do

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