Frequently Asked Questions
1. When and what time will the funds be withdrawn from my bank account?
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.
2. How will I be notified of my payment information?
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 My NELNET Account. The notification also serves as a reminder that a $49.00 per semester or $50.00 annual nonrefundable enrollment fee will be processed from the account indicated on the agreement.
3. Can I pay by phone with NELNET?
In accordance with the Terms & Conditions of your NELNET agreement, payments are processed electronically. NELNET does not accept payments by phone.
4. What is the NELNET Access Code?
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 My NELNET Account, 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.
Will my parent PLUS loan and college work-study be included when calculating my payments?
As there is no guarantee as to whether the PLUS loan will be approved or as to whether a student will apply his/her work-study to the account, neither amount will be included when calculating payments.
What do I need to have with me in order to make a payment on my account?
For quick and accurate service, a currently enrolled student must possess a valid* University I.D. with his/her ID number written on the payment.
* A valid University I.D. refers to one that has been updated for the current semester or term.Print This Page