What Is Nelnet?

What to know about this student loan servicer

woman looks at statement and phone with laptop

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Is this Nelnet company legit? You might’ve wondered if you’ve received mail or other communication from Nelnet.

Nelnet is a legitimate student loan company. You also might be a Nelnet customer even if you’ve never heard of it. In fact, Nelnet claims that it works with over 5 million borrowers with federal student loans. As of August 2019, for example, 11% of all new federal student loans were assigned to Nelnet.

It can be confusing to work with student loan servicers like Nelnet, so it’s important to understand what Nelnet is. Here's how you can find out if you have Nelnet student loans, and how to manage your accounts with Nelnet.

What Is Nelnet?

Nelnet is primarily a student loan servicer. In this capacity, Nelnet student loan servicing works directly with borrowers to manage and repay their loans. While these loans are owned by the federal government, Nelnet contracts with the U.S. Department of Education to handle federal student loans in repayment. 

Nelnet Student Loan Servicing is the student loan arm of Nelnet Diversified Solutions. The company actually operates four separate business segments that offer other services such as payment processing and asset management to organizations and individuals. Nelnet is based in Lincoln, Nebraska.

One of Nelnet’s affiliated companies is another major federal student loan servicer, Great Lakes Educational Loan Services.

Does Nelnet Have Your Student Loans?

Borrowers with federal student loans don’t get to choose which servicers manage their accounts. Instead, after paying the funds out to you, the U.S. Department of Education assigns new loans to one of the nine servicers it contracts with.

If Nelnet is contacting you about student loans, Nelnet is probably your servicer. Even so, check and verify your student loan servicer on the Federal Student Aid website to gain peace of mind that these communications are legit. 

If Nelnet is your student loan servicer, it is responsible for monthly billing for your student loans, as well as the processing of and applying your payments to the loan. Nelnet is also your point of contact if you wish to change repayment plans, apply for deferment or forbearance, and even work toward student loan forgiveness.

The Federal Student Aid website stores all information on your federal student loans, from your student loan balances to the servicer for each account. Just login with your Federal Student Aid (FSA) ID username and password to view your information. 

If you don’t remember your FSA ID information, don’t worry. The website site has instructions to recover your username and password.

Managing Nelnet Student Loans

If Nelnet is your servicer, be sure to set up an online account with Nelnet and start making payments. And when Nelnet or another student loan servicer reaches out to you, it may be wise to respond quickly. If you put this off or ignore correspondence, you could risk falling behind on payments, damaging your credit, and even entering student loan delinquency or default.

You can manage your Nelnet student loans online. Just visit Nelnet.com and go through the process to create your online account. Once logged in, you can view all your account details and make student loan payments. 

You’ll also receive student loan updates and electronic account statements via your online account. Sign up for Nelnet’s eStatements and you’ll get these directly in your Nelnet inbox, which you can access at Nelnet.com.

There is also a Nelnet app for both Apple and Android devices.

Contact Nelnet for Help

In addition to your online account, there are other ways to contact Nelnet. You can email Nelnet through its online email form by providing your personal details and your comment or request.

Here are some additional ways to contact Nelnet for assistance with your student loans.

  • Nelnet’s phone number is 1-888-486-4722, with service from 8 a.m. to 10 p.m. ET, Monday through Friday.
  • Nelnet’s mailing address for general correspondence is P.O. Box 82561 Lincoln, NE 68501-2561

Nelnet has a different mailing address for California residents: P.O. Box 82578 Lincoln, NE 68501-2578 

If you wish to make payments by mail, check Nelnet’s website to find the correct mailing address for payments to your account.

It takes some effort to stay on top of student loan repayment and manage your student debt well. As your servicer, Nelnet is there to assist you, so make sure you know how to get student loan help when you need it.

Article Sources

  1. Nelnet. "About Nelnet," Accessed Dec. 9, 2019.

  2. Department of Education. "Loan Servicers," Accessed Dec. 9, 2019.

  3. Nelnet. "Contact Us," Accessed Dec. 9, 2019.