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Nelnet. The transfer was completed in 2023. ... Additionally, they can contact the Federal Student Aid Information Center at 800-433-3243 or check their credit reports to find out who their new ...
Nelnet, Inc., is a United States–based conglomerate that primary focused on financial services including student and consumer loan origination and servicing. Additionally, the company operates an investing arm, an internet bank and owns Allo Fiber, a cable and internet provider.
In order to replace their loan servicing contract with the United States Department of Education, which expired on June 16, 2019, Great Lakes decided in 2016 to make its bid for a new contract in cooperation with the competing student loan servicer, Nelnet. [2]
However, FedLoan stopped servicing federal student loans after December 2022 and the Department of Education then transferred the loans it was servicing to Nelnet, Edfinancial, Aidvantage or MOHELA.
SLM Corporation (commonly known as Sallie Mae; originally the Student Loan Marketing Association) is a publicly traded U.S. corporation that provides consumer banking.Its nature has changed dramatically since it was set up in the early 1970s; initially a government entity that serviced federal education loans, it then became private and began offering private student loans.
A United States Department of Education audit revealed that since 1993, Nelnet has abused a loophole in federal tax legislation that allowed the company to receive a higher interest rate on specified loans, generating $278 million from taxpayers and possibly an excess $1.2 billion in profits. [2] [1] Nelnet has disputed the findings of the audit.
Union Bank maintains relationships with several other companies, the most prominent being Nelnet. In 2018, UB&T was involved in a financial dispute with NASCAR race team BK Racing which saw the team being dissolved in bankruptcy court and a lawsuit over one of NASCAR's charters sold to Front Row Motorsports by BK at the end of 2016.
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