The Loan Servicer—Customer Service for Your Child’s Student Loans. 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.
In this manner, can you negotiate with Nelnet?
Nelnet does not negotiate student loan settlements for the loans it services. … Its role is limited to processing monthly payments, repayment plan requests, forbearance/deferment requests, and loan consolidation applications.
Keeping this in view, is Nelnet a private student loan lender?
Find a Private Loan
For more than 40 years, Nelnet has helped students finance their education. That’s why we are proud to offer private student loans through U-fi From Nelnet. These loans are for students needing to fill the gaps not met by federal financial aid, or who may be looking to refinance their student debt.
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.
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.
Federal student loan holders can accept settlement offers for less than these amounts, but it’s rare. Alternate settlement offers require additional approval, either from within the organization or the Department of Education itself, as they further affect the loan’s profitability.