<p>I just finished my first semester in college and a statement from Nelnet came in the mail for me today. I have never heard of them before.</p>
<p>Basicly it shows how much in loans i’ve been allowed and then the intrest on it. Then it says the current billing summery and has an amount of about $45 dollers under it right next to the monthly payment amount. Then at the bottom there is a deposit slip that has the account info, payment due date, and total due. However, there is nothing next to total due.</p>
<p>My question is, what is this? is this just a statement (it sure looks like one lol)? Or something else? When i applied for loans i checked the box that said i would start paying them off after i graduated. Would this just be telling me how much i will have to pay off with interest? </p>
<p><em>sigh</em> i’m still new with this, and i thought i’d ask for some advice on here.</p>
<p>I also plan on email my schools FA office to ask them about this.</p>
<p>Anyone? </p>
<p>If you can’t tell, its really bugging me :(</p>
<p>Nebraska Education Loan Network</p>
<p>You are probably going to school in Nebraska. Nelnet was/is a nonprofit agency of Nebraska State government, which in your case is the servicing and guarantor company of your Stafford/Ford/government loan.</p>
<p>Similar to PHEA in Pennsylvania.</p>
<p>They might have been Nebraska to begin with and they are headquartered in Lincoln, but they service Stafford loans all over the country. Go back and look at your Stafford loan paperwork but I’m guessing Nelnet is servicing those loans. If they are Staffords, you will receive a statement every year (or you can choose to receive statements on line). If your Staffords are unsubsidized then you have interest each year that you can pay (each year) or wait until your loan comes due. $45 sounds about right for interest for one semester on an unsubsidized Stafford loan. They have a website nelnet . com if you want more information.</p>
<p>Nelnet services all kinds of school loans - including Plus loans.</p>
<p>If they are still dispersing your loan throughout the year…nothing will be due until about a month after the last disbursement. However, depending on what kind of loan it is, it may be accruing interest.</p>
<p>On any given day…about once every 3 or 4 months…they are the bane of my existence…due to the mistakes they make in record keeping (showing a loan disbursed before it was supposed to…accuring interest…but without the school having any record of receiving the disbursement) and how impossible it is to get information from anyone who seems to know what they’re talking about.</p>
<p>So will i have to start paying while i’m still in school? Because there is no way i can do that financially. :(</p>
<p>You got a loan and you don’t know? </p>
<p>Student loans can be a blessing but they can also be the Devil with which you signed in blood. Fortunately the DOE makes everyone acknowledge many times that they understand the conditions of the loan…before they take your soul.</p>
<p>As long as you are still in school and as long as these are Stafford loans you can wait to pay the interest. Please take some time to go back and read your loan documents and what you signed so you understand what it is you are looking at.</p>
<p>They are. They were part of my FA package.</p>
<p>The Nelnet I’m familiar with is a third-party vendor that many institutions use to handle their student billing. I work at an institution and we use TouchNet. It’s billing software that interfaces with student software.</p>
<p>If you are currently in school, you shouldn’t have to repay any loans.</p>
<p>There are other things you may need to do, such as do an electronic signature on a promissory note, or accept your financial aid for a term, or set up a payment plan (if your financial aid for the term doesn’t cover it all).</p>
<p>We send electronic bills to all students. If they don’t owe any money the balance due is $0, but we send a statement so they know their charges and payments. You might want to make sure you are charged correctly too. Some students need to show the statement to their employer, etc. Our bill would show all loans for the term, any scholarships, any payments, plus any charges (tuition, fees, housing, etc.).</p>
<p>If the total due is $0 then I would assume you are okay.</p>
<p>Ah okay for records keeping then right?</p>
<p>If there is a $45 payment, might you have a Unsubsidized Stafford, in which case, you really need to understand your loan.</p>