Nelnet Student Loan Forgiveness Application Process Explained

To apply for Nelnet student loan forgiveness, borrowers must first determine their eligibility by reviewing the Public Service Loan Forgiveness (PSLF) program requirements. Borrowers can check their loan servicer on the Federal Student Aid website to see if they are eligible.

Nelnet is the loan servicer for the PSLF program, and borrowers can expect to receive a letter from Nelnet if they are eligible. This letter will outline the steps borrowers need to take to apply for forgiveness.

The Nelnet student loan forgiveness application process typically takes 4-6 weeks to complete, but this timeframe may vary depending on the complexity of the application. Borrowers can track the status of their application online through the Federal Student Aid website.

Borrowers must make 120 qualifying payments towards their loans while working in a qualifying public service job to be eligible for forgiveness.

Nelnet student loan forgiveness is a program designed to help borrowers who have made payments on their student loans for at least 20 years.

This program is specifically for borrowers who have had their loans serviced by Nelnet, one of the largest student loan servicers in the country.

Borrowers who are eligible for Nelnet student loan forgiveness will have their remaining balance forgiven, but they must meet specific requirements and deadlines to qualify.

Nelnet does not have its own student loan forgiveness program. Instead, it helps administer different loan forgiveness programs that the United States Department of Education offers to federal student loan borrowers.

Nelnet assists with various types of forgiveness programs.

These programs include those offered by the United States Department of Education.

Nelnet is one of the five student loan servicers used by the government.

Located in Lincoln, Nebraska, Nelnet is a large student loan servicer that handles loan payments and other services for borrowers.

In 2018, Nelnet acquired Great Lakes Educational Loan Services for $150 million, turning it into a massive megaservicer.

Nelnet is responsible for handling loan payments and other services for federal borrowers, making it a crucial part of the student loan system.

To qualify for Nelnet student loan forgiveness, you'll need to meet certain criteria. You must have annual federal income below $125,000 (individual) or $250,000 (married, filing jointly or head of household) in 2020 or 2021.

Public service workers with at least 10 years of service may also be eligible for forgiveness. Additionally, individuals who earned less than $125,000 in either 2020 or 2021, and married couples or heads of households who made less than $250,000 annually in those years, will see up to $10,000 in federal student loan debt forgiven.

If you received a federal Pell Grant while enrolled in college, you may be eligible for up to $20,000 in debt forgiveness. To apply, visit the federal student loan forgiveness website, where you can submit your application in just a few minutes.

To qualify for student debt relief, you must meet certain income requirements. If your annual federal income was below $125,000 (individual) or $250,000 (married, filing jointly or head of household) in 2020 or 2021, you may be eligible for up to $10,000 in federal student loan debt forgiveness.

You can check your eligibility on the federal student loan forgiveness website. The application will be available intermittently during a test phase, and it will be available to all borrowers later in October 2022 through Dec. 31, 2023.

To qualify for Nelnet student loan forgiveness, you must meet the requirements of federal programs established by the U.S. Department of Education. These programs are designed to help ease the burden of student loan debt for those who have devoted their careers to serving others or who have financial hardship.

Public service workers with at least 10 years of service may also be eligible to have their student loan debt canceled. If you're unsure about your eligibility, you can book a call with a representative to discuss your situation.

To qualify for Nelnet student loan discharge, you must meet specific criteria that typically revolve around circumstances beyond your control. These scenarios include death discharge, total and permanent disability discharge (TPD), closed school discharge, and false certification discharge.

Here are some examples of situations that may qualify you for a discharge of your federal student loan:

Keep in mind that a bankruptcy discharge is technically possible, but it's certainly not automatic. To have your student loans discharged in bankruptcy, you'll need to prove that they're causing you “undue hardship.”

Borrower Defense is a loan forgiveness option available to student loan borrowers.

To qualify, you must prove that your college or university misled you or engaged in misconduct in violation of state laws, directly related to your federal student loans.

This could include scenarios where the school made false claims about job placement rates or fees, failed to provide resources they promised, or provided misleading education services.

It's worth noting that less than 20% of Borrower Defense to Repayment applications were accepted as of the end of 2020.

As of the end of 2020, 61,511 borrower defense applications have been approved out of 338,062 total applications received.

The Biden Administration announced $37 million in borrower defense discharges for more than 1,200 students who previously attended the University of Phoenix in September 2023.

You can apply for borrower defense to repayment directly through the U.S. Department of Education, and it's an option for student loan forgiveness for millions of student loan borrowers.

This option is available to borrowers with Nelnet student loans if their college or university closed or misled them.

Nelnet administers several kinds of loan forgiveness programs. These include Income-Based Repayment (IBR), Income Contingent Repayment (ICR), and other IDR plans.

The Income-Based Repayment (IBR) plan sets your monthly student loan payments at either 10% or 15% of your discretionary income, depending on when you took out your loans.

Any remaining balance under the IBR plan is forgiven after either 20 or 25 years.

Income Based plans are a type of repayment option that takes into account your discretionary income. There are two main types: IBR and ICR.

IBR sets your monthly payments at either 10% or 15% of your discretionary income, depending on when you took out your loans, with any remaining balance forgiven after either 20 or 25 years. This plan is a great option for those who want a manageable payment amount based on their income.

ICR calculates your monthly payments based on 20% of your discretionary income or what you would pay on a repayment plan with a fixed payment over 12 years, adjusted according to your income, and any remaining balance is forgiven after 25 years. This plan offers a more tailored approach to repayment, considering both your income and the original repayment terms.

Nelnet administers several kinds of loan forgiveness programs.

The Income-Based Repayment (IBR) plan is a type of program that sets your monthly student loan payments at either 10% or 15% of your discretionary income, depending on when you took out your loans.

Any remaining balance under the IBR plan is forgiven after either 20 or 25 years.

If you're a teacher with a Nelnet-serviced student loan, you may be eligible for loan forgiveness through the Teacher Loan Forgiveness program. This program provides full or partial loan forgiveness to eligible teachers.

To qualify, you'll need to meet specific requirements, including full-time employment for five consecutive years as a highly qualified teacher. You must also complete those years in a qualifying low-income school or educational service agency after the 1997-98 academic year.

Having obtained your loan before the end of your five academic years of service is also a requirement. Depending on the subject you teach, you may be eligible for up to $17,500 or $5,000 in loan forgiveness.

Here are the specific requirements in a quick rundown:

Keep in mind that the Public Service Loan Forgiveness (PSLF) program may offer an alternative route for loan release, and it's worth considering both options to find the best solution for your situation.

To apply for Nelnet student loan forgiveness, you'll need to follow a specific process.

First, you'll need to determine which forgiveness programs you're eligible for. This could be based on your occupation, loan repayment plan, or financial hardship.

The application process varies depending on the program, but generally, you'll need to complete a forgiveness application form. You can get these forms from Nelnet or on StudentAid.gov.

For some programs, like PSLF, you'll also need to get your employer's certification. This usually requires your employer's signature and verification of your employment dates and full-time status.

Once you've completed and signed the form, submit it as instructed, and be sure to continue making your student loan payments until you receive confirmation of approval for loan forgiveness.

If the school falsely certified your eligibility to receive a loan, you may be eligible for discharge. This can happen if the school made a mistake in evaluating your ability to benefit from its training.

False certification discharge applies to situations where the school falsely certified your eligibility due to identity theft.

If you were a victim of identity theft, the school may have certified your eligibility based on someone else's information, which is not a valid reason for loan forgiveness.

You'll need to be aware of the rules around refunds and loan discharge. If you withdrew from the school and the school didn’t make a required return of loan funds to the lender, you may be eligible for an Unpaid Refund Discharge. This can happen when the school doesn't follow the rules for returning loan funds.

To apply for loan forgiveness, you'll need to go through a multi-step process. First, determine which forgiveness programs you may be eligible for, based on your occupation, loan repayment plan, or financial hardship.

You'll need to complete the relevant form, which can be found on Nelnet or on StudentAid.gov. Each form is specific to its program, so make sure to get the right one.

For programs like PSLF, you'll need to get your employer's certification, which requires their signature and verification of your employment dates and full-time status.

Once you've completed and signed the form, submit it as instructed. Some programs require annual submission, while others need it every time you change employers.

After submitting your application, Nelnet will let you know if they need any additional documentation from you. They'll also confirm whether or not your loans qualify for forgiveness.

To contact Nelnet customer service, you can reach out to them through various channels. Their phone number is 1-888-486-4722, available Monday to Friday from 8:00 a.m. to 10 p.m. Eastern.

You can also email them at [email protected] or use their online email form. If you prefer to send a fax, their fax number is 1-877-402-5816.

If you're a California resident, you can send your written requests to P.O. Box 82578, Lincoln, NE 68501-2578, or email them at [email protected].

Nelnet's main mailing addresses are P.O. Box 2970, Omaha, NE 68103-2970, and P.O. Box 2877, Omaha, NE 68103-2877.

For documents related to deferment, forbearance, repayment plans, or enrollment status changes, send them to P.O. Box 82565, Lincoln, NE 68501-2565.

If you're dealing with loan discharge or forgiveness claims, send your documents to P.O. Box 82505, Lincoln, NE 68501-2505.

For bankruptcy claims, you can send your documents to P.O. Box 82561, Lincoln, NE 68501-2561, or fax them to 877.402.5816.