Nearly all college-bound students will require some form of student loan to help pay for their education. Whether you have won a scholarship, qualified for a grant, or a have a nest egg earmarked for college you will likely need to augment your funds with some manner of student loan. The National Education Loan Network, or Nelnet, caters solely to students in need of loans to help them pay for college. Unlike other student loan companies, which are merely banks with an educational loan division, Nelnet's only business is education planning and finance.
Nelnet administers all of the Federal Direct Student Loan programs, and they can help you apply for and manage all of your Federal student loans. Before you contact Nelnet however, there are a few steps you must take on your own. First and foremost you must fill out and submit your Free Application For Federal Student Aid, or FAFSA. After you have submitted this application, and it has been reviewed, you will receive a Student Aid Report, or SAR. The SAR will outline what, if any, Federal loans and grants you may be eligible to receive. With this information in hand, it is time to contact Nelnet and select them as your primary lender. Nelnet will then help you navigate the loan process and secure your Federal loans.
In addition to Federal loans, Nelnet can help you find and secure any private loans you may need to supplement your college fund. Having all of your loans through Nelnet will make managing your finances that much easier, and can help you save money on lending fees. Not to mention the time you'll save, and the headaches you'll avoid by having all of your student loans handled by one trusted lender.
If you find that your Federal loans simply do not cover enough of your education costs, you may need to take out a private lender loan. As we have mentioned before, it is always best to pay as much of your educational costs with Federal grants, loans and scholarships. However, when you need more money for college, a private loan from Nelnet is a responsible choice.
Students should be especially careful when considering a private lender loan for college. Many have hidden fees, high interest rates and terms and conditions that can make repayment difficult. Nelnet makes securing a private loan much easier, and a lot more affordable. As a lending organization that concentrates only on educational loans, Nelnet is devoted to helping students secure the perfect college loan with the most attractive rates and terms.
Some of the features offered by Nelnet include:
Nelnet specializes in all forms of education loans. Whether you are an undergraduate or graduate student; medical or law student; or are attending a vocational or technical school, Nelnet can help you find the right loan to suit your needs. And because Nelnet deals only education loans, you are sure to find better terms and rates than at a bank.
Parents naturally want to help their children with their college finances, and that will likely mean some form of Federal or private loan. Nelnet administers the Federal Direct PLUS Loan for Parents, which is a government guaranteed loan designed to help parents give financial aid to their college-bound children. Much like a private lender loan, repayment must begin as soon as funds are disbursed and parents are solely responsible for the totality of the loan. Nelnet can also help parents secure private loans to supplement their child's education fund, at attractive terms at highly competitive rates.
Parents can also cosign on any of Nelnet's standard student loans to help their children secure lower interest rates and better repayment terms. Acting as a cosigner also helps a student to build much needed credit for later in life.
Applying for a private or Federal education loan through Nelnet is simple. After you have submitted your FAFSA, and received your Student Aid Report, head over to Nelnet's website at www.nelnet.com and follow the easy to understand instructions. Most applicants can find out if they have been approved for a loan within a few minutes.
Some standard eligibility requirements include:
All of Nelnet's education loans are available to students enrolled at participating accredited colleges or vocational schools. Students and parents can borrow up to the total amount of the cost of attendance, less any financial aid already received. For students looking to supplement their college fund with a private loan, Nelnet is there to help make the impossible possible. If you find that your Federal financial aid, grants and scholarship still leave you short of funds for college, a loan from the National Education Loan Network is the next step on your college funding search.