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If you have a lender that manages both federal and private student loans — like Nelnet — you may have to call to see which type of loans you have. Federal vs. private student loans Federal
In October 2017, Great Lakes Higher Education Corporation reached an agreement to sell off 100% of the stock of its subsidiary, the Great Lakes Educational Loan Services, Inc. to Nelnet. [8] The company was to be sold for $150 million, initially keeping CEO Jeff Crosby in charge, but with a plan of consolidating the companies together. [9]
On October 6, 2021, the Biden administration announced a temporary waiver allowing past payments to qualify even if they had the wrong loan type or payment plan. [11] As of March 2022 100,000 people have had over $6.2 billion of student loans canceled as a result of the waiver, [12] however, many problems still persist.
The loan servicer calculates the monthly payment amount that will pay off the original loan amount plus all accrued interest after 120 equal payments. Payments cover interest and part of the principal. Some loan terms may be shorter than 10 years. The minimum monthly payment varies in amount, but is usually within the range of $50-100.
Even though the U.S. Supreme Court struck down President Biden's proposal for student loan forgiveness, more than 43 million Americans with student loan debt could still benefit from a different,...
A 529 college savings plan can be a great way to help your future student cut down on student loan costs. Plus, these special savings plans provide some valuable tax benefits, making them ...
Nelnet became a publicly traded company in 2003, at which point the two founders were co-CEOs. [1] In August 2003, the parent company was renamed from Nelnet Loan Services, Inc. to simply Nelnet, Inc. [6] The initial public offering occurred on August 19, 2003, for $200 million. [7] Steve Butterfield stepped down as CEO in 2007. [1]
Here's a new one: Ithaca College accepted too many students for its new class of freshmen -- so to make room on campus, it paid some of them to go away for a year and come back in the next class ...