Frequently Asked Questions
Nelnet specifies the date each payment will occur, but it is your financial institution that determines the time of day the payment is debited. Nelnet recommends you check with your financial institution to determine how far in advance funds should be deposited into your account to ensure the automatic payment clears. If a payment date falls on a weekend or banking holiday, the payment will be attempted the following business day.
Once your agreement is posted to the Nelnet system, you will receive a confirmation notification of your payment amount by e-mail or letter. Payments will be processed until the total balance is paid in full. The notification has important information you must have to log on to Manage Your Payment Plan. The notification also serves as a reminder that a $25 per semester nonrefundable Nelnet Enrollment Fee will be processed from the account indicated on the agreement.
In accordance with the Terms and Conditions of your Nelnet agreement, payments are processed electronically. Nelnet does not accept payments by phone.
To help protect your privacy, Nelnet asks the person responsible for the payments to create an access code. If you should call into Nelnet inquiring about your Nelnet agreement or inquire online through Manage Your Payment Plan, you will be required to verify your Nelnet Access Code. If you do not create an access code on your Nelnet agreement, one will be randomly assigned to you. Your Nelnet Access Code will be identified on your Nelnet Confirmation Notification. Please remember to keep a copy of your confirmation notification.
Should an automatic bank payment or credit card payment be returned, a $30 Nelnet Returned Payment Fee will be automatically assessed to your account. You will be notified by Nelnet of the returned payment via mail or e-mail.