Nelnet Student Loan Servicing Reviews - What Is It?
DO NOT USE Nelnet Student Loan Servicing!!! You Must Read This Review!
Fully Researched: Price, User Feedback and More!
Every year, a lender called Nelnet offers loans to thousands of students giving them an opportunity to realize their educational dreams. In this article we will take a look at Nelnet Student Loan Servicing because it is very important to understand everything about your student loan servicer. Nelnet is a servicer based in Lincoln, Nebraska, whose mission is to provide students with loans. While other lenders give the money for a student loan, the servicer we are discussing today handles payment arrangements for the loans, letting students to reach their academic goals. At present, Nelnet helps over five million borrowers as they repay their loans. This student loan servicer ensures that its customers are able to pay off their loans. So, if you cannot afford your monthly payment, Nelnet can help you to figure out an income repayment plan to suit your budget. The company can also help you sign up for federal benefits such as forbearance, deferment, or income-driven repayment plans. It can also provide access to private loans due to the partnership with the company called U-Fi.
Nelnet is considered to be one of the "Big Four" servicers along with Great Lakes, Navient, and AES. Since 2018, Nelnet has been the nation's largest student loan servicer. It merged with Great Lakes after buying this company. They kept their staff and loans but still allowed Great Lakes to use their name. Today, Nelnet services more than $430 billion in student loans for about fifteen million borrowers. Just because it is the biggest student loan servicer in the nation doesn't mean that it is the best fit for you, so we are going to find out what exactly they offer and what their consumers are saying about them. But before that let's find out how to contact Nelnet. You can call the company 24 hours a day, seven days a week at 888-486-4722, contact them using an online form on their website, fax them at 877-402-5816, or send them mail. Their postal address is Nelnet; P.O. Box 82561; Lincoln, NE 68501-2561. Make sure you contact them if you have a question or problem about the loan repayment process or any other issues.
Customer Reviews - Does Nelnet Student Loan Servicing Really Work?
While some people consider student loans to be evil, it is better to think of them as a tool that is used to help you with achieving your educational goals. Nelnet proves to be helpful for getting through the repayment process effectively and smoothly. One of the advantages of this student loan servicer is convenience. The company offers a great number of repayment plans to provide the borrower with benefits and to fit various needs. Nelnet offers several types of repayment plans. The first one is called Standard repayment plan that spreads payments over your payment term equally. Graduated repayment plan means that the payments increase over time, which makes it a good option for people who expect to earn more money in future, since they will be able to pay more because the salary increases over the year. Extended repayment plan gives more time to pay off the loans by allowing you to increase the repayment term on your loans. It should be kept in mind, though, that extending your payments too long will result in paying. If you wish to extend your loan term, you should weigh all pros and cons such as more disposable income having now versus paying more in interest over the life of the loan. You are recommended to pay off your loans faster if you have such an opportunity. Income-driven repayment plan allows you to adjust your minimum payments depending on your income, so that you will never have to pay more than you can afford. Income-sensitive repayment plan can be used with Federal Family Education Loans (FFELP). With this plan you can adjust the minimum payment in order to accommodate your income for up to five years.
There are enough customer reviews online to conclude that Nelnet is being appreciated by its customers. It has many other benefits in addition to those we have already mentioned higher. For example, with Nelnet, you can choose how to make your monthly payments. There are different options each of which has their own perks. Autopay allows you to have your payment debited from your account automatically, so that you will never forget to pay. Another benefit is that the lenders will reduce your interest rate because you are paying automatically. Other available payment options include paying via mail, online, by phone or through the mobile app. Text reminders will be beneficial for those who are afraid that they can forget to make the payment but don't. In this way, you can sign up for text alerts that will remind you of the next due date. Another option is online bill payment via your bank but some banks charge a fee. One can have many Nelnet loans with different due dates and it can be difficult to remember when each one is due. To simplify the process, you can contact the company and ask the staff to adjust the dates. This will allow you to pay different loans at the same time. The company can also designate money for each type of loan. Account numbers start with the letters E, D or J. What do these letters mean? They mean that these loans are owned by different lenders. For example, loans that start with E are owned by the Department of Education, while those that start with D or J are owned by other lenders. Paying online allows you to submit a single payment and designate a definite sum of money to this or that account. Individual loans can also be bundled together in groups if they have common features. For instance, you can group together loans with the same interest rate.it is high time to take a look at the actual customer reviews available online.
"I am pleased with Nelnet Student Loan Servicing, especially with great customer service! I have been on my payments from the start and the staff of this company has helped me significantly to keep my payments affordable and low. Every time I faced any difficulty or problem with the payment, I just contacted Nelnet and they helped me through. I feel very grateful for understanding. It was important for me in the time of need."
"I like Nelnet Student Loan Servicing. I lost my job and had financial problems. County declared a national disaster area, so I was offered help. Yes, it was Nelnet who contacted me and asked me whether I needed help! I have kept my payments current from the very first day. Nelnet has helped me to make my payments more affordable. I do recommend this lender to everyone."
"Nelnet Student Loan Servicing was a real blessing for me. Nelnet is a helpful student loan company that has worked with me on my federal student loans. At that period of time I also had difficult medical times. The company's staff helped me with my issues. Moreover, I never felt belittled or judged."
My Final Summary
Nelnet Student Loan Servicing has a great number of advantages. The company behind the service, Nelnet, is very reputable and well-known in the country. The company offer many loan forgiveness programs targeted at different types of borrowers and demographics. If you can't pay your student loan, be sure to contact Nelnet as soon as possible and share your issues. They want to help you succeed with your payments by making them more affordable and lower. They can refinance your loans to a lower interest rate. Besides, you will be able to apply bonuses, tax refunds, and other windfalls to your debt. There is an opportunity to make a payment whenever you get a paycheck. You can divide the owed amount of money in two and pay that amount every two weeks. In this way, you will make an additional loan payment over the course of the year. With all this in mind, I do recommend Nelnet Student Loan Servicing.
Nelnet Student Loan Servicing Pricing and Rates
In fact, the rates with Nelnet Student Loan Servicing may vary a lot based on certain factors including the amount of the loan and the term of payment. Be sure, though, that your student loan servicer will make your repayment process as simple as possible. You may qualify for a 0.25% interest rate reduction just by signing for automatic payments online.