Nelnet Announces Quick Help for Borrowers Struggling to Make Student Loan Payments

LINCOLN, Neb., June 12 /PRNewswire-FirstCall/ — Nelnet (NYSE: NNI - News) announced today that borrowers struggling to make student loan payments can now apply for a deferment or forbearance online, including the option to electronically sign the application. This solution gives borrowers fast options for meeting their student loan obligation by temporarily reducing or postponing payments.

The enhancement is part of the company’s ongoing focus on providing borrowers with as much convenience and efficiency as possible during their school experience. Nterchange, the online tool that allows borrowers to manage their accounts online, will ask the borrower a series of questions and data validations to assess their eligibility. The borrower will be able to provide an electronic signature for most types of deferments and forbearance requests, and submit the application online. In some instances, applications will not require additional information and will be auto-processed immediately.

Through Nterchange, borrowers currently can view account information, loan details, and payment history, as well as make a payment online. The new functionality will allow them to also update demographic information besides applying for forbearances and deferments online.

“This is an exciting enhancement designed to help borrowers meet their financial obligations and save time,” said Cheryl Watson, Nelnet’s Chief Communications Officer. “It’s what we mean by ‘adding value’ to the borrower’s experience.”

Additional information is available at www.nelnet.net.