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November Advisory Council Meeting Recap

December 5, 2013

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In November, Nelnet hosted another round of Advisory Council meetings. These meetings give financial aid professionals from the SWASFAA, RMASFAA, WASFAA, MASFAA, EASFAA, and SASFAA regions an opportunity to voice their thoughts, concerns, and ideas regarding Nelnet and the financial aid industry.

Since schools and students are Nelnet’s primary focus, the guidance provided in these meetings allows us to improve our loan servicing efforts and product offerings. We have been able to implement many past recommendations and are very proud and excited to have finished as the #1 servicer in the FSA survey for the past two years. Without the help of our regional Advisory Councils, this would not have been possible.

Here are some major things we learned during our recent Advisory Council calls:

  • Our schools are happy with the information being provided on the monthly Nelnet Loan Servicing Snapshot. We received a few suggestions on additional information that would increase the snapshot’s value.
  • Members were excited about our new, upcoming “nuts and bolts” approach to default prevention (details forthcoming!).
  • There is some borrower-specific deferment and forbearance related information that our schools would like to access through Nsight.
  • Council members were in agreement that they could benefit from leveraging Nelnet’s expertise in locating skip borrowers.
  • Email communication seems to work well for Advisory Council members, and they like the new newsletter format. We received great feedback regarding what topics our school partners would like to read more about.
  • Council members commended Nelnet on making it easy for borrowers to make excess payments on loans, but would like to see consistency among servicers in this area.
  • From a default prevention perspective, our school partners asked Nelnet to ponder how we could assist them with identifying what a defaulter looks like at their specific institution.
  • One of the greatest challenges facing financial aid professionals is finding time to provide all the information that is essential to student success in loan repayment.

Along with these, our members have provided Nelnet with numerous tangible recommendations for improving Nelnet’s service to school and borrower customers. We are fortunate to be receiving such direction from these groups and look forward to working hand-in-hand with them to further support our customers and the borrowers they serve.

Please let your Regional Director know if you’d like to participate in a future Advisory Council meeting.  As always, if you have recommendations, feel free to submit them on our website or reach out to your Regional Director.

Kristin Tobias, Communications Coordinator, Nelnet

Kristin Tobias, Communications Coordinator, Nelnet

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