Have Nelnet? Read Below!

Hi Student loan warriors 💪 I am coming to you after dealing with several reps and finally was able to speak with someone who provided some transparency, so you don't have to!

If you are making a full loan payment to Nelnet and want to avoid the extra accrued interest that takes place while your payment is processing make sure to make the payment BEFORE 4PM EST.

If the payment is made after this time, interest will accrue during the processing time. Also important to note this information is not readily available on their website. There is nothing more disheartening then thinking you just paid off a loan in full to only find you still have interest left over after the payment is processed. In my opinion, every cent counts!

I also recommend seeing how your monthly payment is being split up and put as much towards the PRINCIPAL AMOUNT as you can. Otherwise your money is going to interest first, which in the long run will extend the length of time you have to pay off that loan.

Godspeed everyone. You got this! 🫵

EDIT - Glad to see a lot of traction but guys I am not here to talk about every specific situation. This was merely to help those who are paying interest for processing payments when it can be avoided.

My advice? Just call your company and find out what the status is on YOUR interest rates and loans no matter what program you are in. They want people to fight amongst each other rather than going straight to the source. Take charge of your future and look into your own profiles.