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Re-amortization of Federal Student Loans with Variable Interest Rate

July 24, 2013

Interest rates on all variable Federal Student Loans are subject to change each year on July 1st. We want to let our school clients know that over the months of July and August, Nelnet will re-amortize the loans of 54,000 ED borrowers that currently have a variable interest rate. After the loan is re-amortized, these borrowers’ payments could increase or decrease in order to pay off the loan within the remaining loan term.

July and August statements will show the borrower’s new payment amount, and the borrower can also log into their online account and view their new disclosure and payment amount. If you are working with a borrower who has questions or concerns about their new payment amount, you may call our School Service Center (866.463.5638), with or without the borrower on the line. Borrowers can reach us directly day or night at 888.486.4722.

Jodi Miller, Web & Social Media Manager, Nelnet Partner Solutions

Jodi Miller, Web & Social Media Manager, Nelnet Partner Solutions

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