Has a company named NelNet has contacted you about your student loans? If so, you might have wondered who they are and how they got your name.
So what's the deal? Is NelNet a legit company? Yes. And, in fact, they probably have a very good reason for contacting you.
NelNet, short for National Education Loan Network, is a company that services federal student loans.
Remember that federal student loan you signed up for? After you graduated, the U.S. Department of Education passed your loan off to a loan servicing company to handle payments, collections, and account maintenance.
So if you're getting a bill from Nelnet, yep, there's a pretty good chance you're going to need to pay it – BUT it's important to make sure they're your servicer first (we'll tell how you below).
See also: How to Lower Your NelNet Student Loan Payment
NelNet also recently acquired Great Lakes, another leading loan servicer.
As a loan servicer, Nelnet's job is to manage your student loans, including:
Let's get back to that letter you got.
The first thing to know is that if you receive a letter, call, or email from a company claiming to want to speak with you about your student loans, don't jump to give them any of your personal information until you verify who they are.
Unfortunately, there are many companies out there that harass borrowers into paying a fee for help. These are generally scams.
Why is that? Because you never have to pay for help with student loan debt management. Instead, you can work directly with your loan servicer, who will help you for free.
See also: How to Refinance Your NelNet Student Loans
Not sure if NelNet is your loan servicer? You can confirm via the U.S. Department of Education's National Student Loan Data System, which is the central database for federal student loans. There, you can get more info about your loan servicer, the type of loans you have, your balance, and your loan status. To access this information, you'll need your Federal Student Aid (FSA) ID number.
Important note: Assume that any company that asks you for your FSA ID is NOT legit. You use this ID to sign legal documents online. Don’t give out your ID to anyone— or they’ll be able to change your account without your permission.
Once you confirm that NelNet is your loan servicer, you can reach out to the company with specific questions about your situation.
If NelNet is your servicer, you should get in touch with them for any and all account questions, including:
NelNet's customer service phone number, email and address are listed here. Remember, contacting your loan servicer should always be your first step if you're struggling with your debt.
You can also create an online account with NelNet to make accessing your loan information and monthly making payments easier.
See also: 4 Ways to Lower Student Loan Payments
Special offers for medical resident and fellow refinance products
Splash Financial is a leader in student loan refinancing with some of the lowest fixed in the industry which can save you tens of thousands of dollars over the life of your loans. No application or origination fees and no prepayment penalties. Splash Financial is in all 50 states and is intensely focused on customer service. Splash Financial is also one of the few companies that offers a great medical resident and fellow refinance product. You can check your rate with Splash in just minutes.
Click here to see more of Splash's offerings and to see how you can save money.
SoFi is the leading student loan refinancing provider.
$30 billion+ in refinanced student loans. SoFi has some of the lowest interest rates and, unlike the other lenders we reviewed, there's no maximum on the amount you can finance. Some state restrictions may apply.
Save thousands on your student loans and pay off your loans sooner. Find your rate.
Works with 300+ community lenders for higher approval chances
Connecting student borrowers to a network of over 300 community lenders with low interest rates. By partnering with these lenders, LendKey is able to give consumers direct access to the best rates available from the most borrower friendly institutions. As the servicer of all loans obtained through its platform, you can rest easy knowing your personal information will be safe and that the best customer service team will be ready to answer your questions from application until your final payment.
Best for borrowers who want to customize their repayment schedule to pay off debt fast.
Using technology, data, and design to build affordable products, Earnest's lending products are built for a new generation seeking to reach life's milestones. The company understands every applicant's unique financial story to offer the lowest possible rates and radically flexible loan options for living life.
Click here to apply with Earnest and to see how much you can save.