New Online Application for Federal PLUS Loans for Graduate/Professional Students
 LINCOLN, Neb., June 7 /PRNewswire-FirstCall/ — Today, Nelnet (NYSE:
NNI) announced a new online application for a Nelnet PLUS Loan program to
aid graduate and professional students in paying for college.
   The new Grad PLUS loans, which will be expanded to graduate and
professional students on July 1, 2006, will carry a fixed interest rate of
8.5 percent. The new rate on the guaranteed Federal PLUS Loan program was
established by Congress in the Deficit Reduction Act of 2005.
   All Nelnet PLUS Loan borrowers will receive a 3 percent interest credit
after the loan enters repayment. This credit will be applied 210 days after
the PLUS loan is fully disbursed. In addition, students will receive a 3.33
percent reduction of their original principal loan balance after making 30
initial, on-time payments, as well as a 0.25 percent interest rate
reduction for auto-debit payments. These borrower benefits may vary by
state, lender, and servicer.
   The Nelnet Grad PLUS Loan offers borrowers the same benefits as the
traditional PLUS loan for parents; the program was recently expanded to
allow graduate and professional students to borrow as much as the entire
cost of attending school, less other financial aid.
   “Nelnet is offering a tremendous opportunity to future students who
otherwise could not afford financing an advanced degree,” said David
Bottegal, Chief Executive Officer of Nelnet’s Education Services Division.
“I hope any potential graduate or professional students will consider the
Nelnet Grad PLUS Loan as an affordable option to cover the rising cost of
education.”
   Nelnet’s online pre-approval and application process for the new Nelnet
Grad PLUS Loan includes an instant credit evaluation and option to e-sign,
but varies depending on the school. In addition, these loans are also
eligible for Federal Family Education Loan Program tax benefits that
include the Hope Credit, Lifetime Learning Credit, and student loan
interest deductibility.
   Borrowers interested in applying for a new Federal PLUS Loan for
graduate or professional students should visit http://www.nelnet.net or call
1.866.866.7372.
   Nelnet is one of the leading education finance companies in the United
States and is focused on providing quality products and services to
students and schools nationwide. Nelnet ranks among the nation’s leaders in
terms of total net student loan assets with $21.3 billion as of March 31,
2006. Headquartered in Lincoln, Nebraska, Nelnet originates, consolidates,
securitizes, holds, and services student loans, principally loans
originated under the Federal Family Education Loan Program of the U.S.
Department of Education.
   Additional information is available at http://www.nelnet.net.
   (code: nnig)
Written by Originator on June 11th, 2006 with
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