Last $44.59 USD
Change Today -0.57 / -1.26%
Volume 60.8K
As of 6:40 PM 08/27/14 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

121 South 13th Street

Lincoln, NE 68508

United States

Phone: 402-458-2370

Fax:

Nelnet, Inc. operates as an education services company. The company focuses primarily on providing fee-based processing services and quality education-related products and services in four core areas, such as asset management and finance, loan servicing, payment processing, and enrollment services (education planning). The company’s products and services help students and families plan, prepare, and pay for their education; and make the administrative and financial processes efficient for schools and financial organizations. It also offers a portfolio of federally insured student loans. Segments The company operates through four segments: Student Loan and Guaranty Servicing; Tuition Payment Processing and Campus Commerce; Enrollment Services; and Asset Generation and Management. Student Loan and Guaranty Servicing segment This segment’s primary service offerings include servicing federally-owned student loans for the U.S. Department of Education (the 'Department'); servicing the Federal Family Education Loan Program (FFELP) loans; originating and servicing non-federally insured student loans; servicing and outsourcing services for FFELP guaranty agencies, including FFELP guaranty collection services; and providing student loan servicing software and other information technology products and services. This segment is referred to as Nelnet Diversified Solutions. This segment’s brands include Nelnet Loan Servicing, Firstmark Services, Nelnet Guarantor Solutions, 5280 Solutions, Responsible Repay, CampusGuard, and Proxi. Servicing Federally-owned Student Loans for the Department The company has been awarded a student loan servicing contract by the Department to provide additional servicing capacity for loans owned by the Department. These loans include Federal Direct Loan Program loans originated directly by the Department and FFELP loans purchased by the Department. Servicing FFELP Loans This segment provides for the servicing of the company's student loan portfolio and the portfolios of third parties. The loan servicing activities include loan conversion activities, application processing, borrower updates, customer service, payment processing, due diligence procedures, funds management reconciliations, and claim processing. The company's student loan servicing division uses proprietary systems to manage the servicing process. These systems provide for automated compliance with majority of the federal student loan regulations adopted under Title IV of the Higher Education Act of 1965, as amended (the ‘Higher Education Act’). The company serviced FFELP loans on behalf of 46 third-party servicing customers as of December 31, 2013. The company's FFELP servicing customers include national and regional banks, credit unions, and various state and non-profit secondary markets. Originating and Servicing Non-Federally Insured Student Loans This segment conducts origination and servicing activities for non-federally insured loans. Although similar in terms of activities and functions as FFELP servicing (disbursement processing, application processing, payment processing, customer service, statement distribution, and reporting), non-federally insured loan servicing activities are not required to comply with provisions of the Higher Education Act and might be customized to individual client requirements. The company serviced non-federally insured loans on behalf of 25 third-party servicing customers as of December 31, 2013. Servicing and Outsourcing Services for FFELP Guaranty Agencies, including FFELP Guaranty Collection Services This segment provides servicing support for guaranty agencies, which serve as intermediaries between the Department and FFELP lenders, and are responsible for paying the claims made on defaulted loans. The Department has designated approximately 30 guarantors that have been formed as either state agencies or non-profit corporations that provide FFELP guaranty services in one or more states. The services provided by the company include providing software and data center services, borrower and loan updates, default aversion services, claim processing services, and

 

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