Nelnet Implements a New Payment System to Help Borrowers with both Commercial and ED-Owned Loans

 Based on feedback from both schools and borrowers, Nelnet has implemented a new payment system.  The new system will be used by customers when making a payment on our website, as well as by Nelnet Advisors in the Customer Interaction Center, when taking a payment (checking or credit card) over the phone.

The new payment system streamlines the process of making a payment on commercial and Department of Education loans. Some of the benefits of the new system include: 

• One payment processing engine for both commercial and ED-owned loans
•  Payments will be processed by Nelnet’s own CryptPay product, rather than through an outside vendor.
• Integration within Manage My Account (MMA) allows for a seamless payment process for customers (fewer clicks and pages to navigate)
• Customers have the option for “special instruction” payments online, and can direct over-payments to specific loan groups.
• Department of Education customers now have the ability to add an authorized payer to their account (allow someone else to make payments on their behalf).

Please feel free to share this information with your colleagues and students, and share your feedback.