Nelnet is a federal student loan servicer working on behalf of the U.S. Department of Education, the government agency that lends you or your child student loans. A loan servicer acts as the customer service provider for the loans that the Department of Education lends to borrowers.
Also know, are Nelnet loans Public or private?
Loans serviced by private companies like Nelnet, a leading servicer for the U.S. Department of Education’s federal student loan program.
Secondly, how do I know if my Nelnet student loan is federal or private?
The best way of determining whether loans are federal or private is to log in to the National Student Loan Database, at www.nslds.ed.gov. The Department of Ed. makes it clear that only individual borrowers are allowed to log into this site, not third party companies or financial advisors.
How do I know if my student loan is an ED loan?
An Easy Way to Identify ED-HELD Loans
Login to StudentAid.gov. Click on “view details”, then look for “Loan Breakdown” on the Aid Summary page to see a list of your federal student loans. If the servicer name begins with “DEPT OF ED”, the loan is owned by the U.S. Department of Education.
How do I look up my student loans?
StudentAid.gov
- Your student loan amounts and balances.
- Your loan servicer(s) and their contact information.
- Your interest rates.
- Your current loan status (in repayment, in default, etc.)
Is Great Lakes a Nelnet loan?
Along with its parent company Nelnet, Great Lakes is one of the largest federal loan servicers, managing over 40% of the outstanding debt held by student loan borrowers.
Is Nelnet owned by Department of Education?
Nelnet works with the Department of Education (Department) to help you achieve your educational goals. We provide customer service on your federal student loans, so we answer your questions, offer solutions if you’re having trouble paying, and process your payments.
Is Nelnet part of Navient?
Federal student loan servicers, such as Nelnet and Navient Corp., are companies that collect payments, respond to customer service inquiries and perform other administrative tasks on behalf of the U.S. Department of Education.
Is Nelnet still servicing federal student loans?
Currently, Nelnet is under contract with the Department of Education through December 2021. After December 2021, Nelnet’s contract is unlikely to be renewed and its borrower portfolio will be transferred to another loan servicer.
Is Sallie Mae and Nelnet the same?
Two names that come up often when talking about student loans are Sallie Mae and Navient. Many people get confused over whether they’re the same company or not. Here’s the fast answer: No, but they used to be. These days, they are two separate companies.
What are the 2 types of student loans?
Generally, there are two types of student loans—federal and private.
- Federal student loans and federal parent loans: These loans are funded by the federal government.
- Private student loans: These loans are nonfederal loans, made by a lender such as a bank, credit union, state agency, or a school.
What are the 3 types of student loans?
There are three types of federal student loans:
- Direct Subsidized Loans.
- Direct Unsubsidized Loans.
- Direct PLUS Loans, of which there are two types: Grad PLUS Loans for graduate and professional students, as well as loans that can be issued to a student’s parents, also known as Parent PLUS Loans.
What types of loans does Nelnet service?
For students who need financial assistance for college, there are two types of loans available:
- Perkins.
- Stafford.
- GradPLUS (graduate and professional students)
- PLUS (parents)
- Federal Student Loan Consolidation.