Nelnet Student Loans
Nelnet is a lending conglomerate based in Lincoln, Nebraska that specializes in administering and scheduling repayment for student loans. The company was founded in 1978 and was renamed Nelnet in 1996. As of 2007, Nelnet holds over $25 billion in student loans. This figure is about one-third of the total subsidized loans offered by the federal government, and there are over 50 different subsidiaries of Nelnet that are working in America and Canada.
About Nelnet Student Loans
Nelnet is an intermediary that works with the Department of Education. It specializes in providing students with consultancy on federal student loans, and one of their much-renowned services is providing assistance to students who are in the process of making their repayments. Students who use Nelnet receive regular feedback and are given information on their loans health. In fact, Nelnet is one of the leading student loan servicers in the country. Apart from directly borrowing Nelnet student loans, students can use them as a channel to other loans, especially those which are offered by the Department of Education. Sometimes, lenders sell student loans to Nelnet. In these instances, students receive complete counseling from the company, which helps to take care of repayments as conveniently as possible. You might be troubled by the heavy repayment rates of loans. If this is true, then you can access the debt consolidation services offered by Nelnet, allowing Nelnet to consolidate all of your existing student debt, making it easier for you to schedule one combined repayment every month/quarter, along with lowering the Annual Percentage Rate (APR) of interest. Some of the other loan assistance programs that Nelnet deals with includes bankruptcy, disability discharges, the Stafford Loan Forgiveness Program for Teachers, and Public Service Loan Forgiveness (PSLF).
Even though Nelnet student loans are premium, it is always preferable to consider all of your available options. To help you make a smart decision, SimpleTuition has developed a handy Comparison Tool, as you can now search for the best student loan options and compare them side-by-side. Not only is this tool easy to use, but it’s fast… and free!
Nelnet student loans have various repayment packages: the graduate repayment plan has lower repayments in the earlier years and higher repayments as the loan matures. Payment amount increases after every two years, until the loan is repaid in full. Nelnet student loans are an excellent choice for students who feel that they will earn more as they gain professional experience.