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FAQ: Does Nelnet communicate with borrowers in school and during grace? If so, how?

June 22, 2010

With our current economy and the new ways that cohort default rates are being calculated, we get many questions from schools about when and how we communicate with borrowers.  This one centers around our communication efforts with borrowers while they are in grace. At Nelnet, we continually look at different ways of helping our borrowers be successful, so this answer could change in the future.  If that happens, we will make sure to update this post to make sure it is always current.

Q: Does Nelnet communicate with borrowers in school and during grace? If so, how?

A: When Nelnet is assigned a loan, a welcome letter is sent to borrowers. This letter notifies the borrower that Nelnet is their federal loan servicer and provides additional consumer information.  As borrowers near the end of their grace period, they receive a disclosure repayment notice with information about repaying their loans, along with important information on electronic payments, web and phone-based services, and various repayment schedules.  Nelnet is currently in the process of assessing the need to expand communications sent to borrowers prior to repayment.

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