Your Nelnet. If you are currently receiving and making payments by mail, cut the coupon off the bottom of your statement and send it in with your check. If you are signed up for eStatements electronic statements , you can simply log in to your account, select Documents and then click Inbox and Documents.
There, the Statements link will bring you to your current statement. On the back of your statement you will find itemized loan information. Loans are grouped by the same loan type and interest rate. Here you can view your daily interest accrual, total payoff amount, and other loan details. Log In. Email Mail. This system and equipment are subject to monitoring to ensure proper performance of applicable security features or procedures. Such monitoring may result in the acquisition, recording, and analysis of all data being communicated, transmitted, processed, or stored in this system by a user.
If monitoring reveals possible evidence of criminal activity, such evidence may be provided to law enforcement personnel. Eastern on a business day to be effective the same day. Payments submitted after 4 p. Eastern will be effective the next business day. Business days do not include weekends. Unless you direct your payment to an individual loan or loan group, the standard allocation method is followed.
You can also direct payments including partial payments to individual loans or groups, as a one-time or recurring special payment instruction. Payments are allocated first to any past due groups.
After your current amount due is paid, payments are allocated across loans in repayment status starting with the highest interest rate. Once the loans in repayment status with the highest interest rate are paid in full, any remaining payment amount will be allocated across the loans with the next highest interest rate. This will help keep the due dates for all loan groups aligned. Payments are allocated first to past due groups.
We encourage you to pay as much as you can, because interest accrues daily on your outstanding principal balance. Please note, this excludes loans that are already in repayment status and consolidation loans.
Department of Education does not assess late or returned payment fees. If all of your loans are in one of these repayment plans, only your regular monthly payment amount as noted on your monthly billing statement will be automatically deducted.
Department of Education, there are a few different ways you can check out your student loan balance. Staying on top of all your loans can be like a part-time job.
You have to keep tabs on your borrowed amount, interest rate, due date and the minimum amount due every month. To streamline your payments, you might want to think about consolidating or refinancing your loans. A federal direct consolidation loan brings all your federal loans together into one easy-to-manage loan. Your interest rate is fixed and averaged out between all your loans, then rounded up to the nearest one eighth of a percentage point.
You should consolidate if you:. If you consolidate qualifying loans by Oct. Find full details of the action steps you must take on the Federal Student Aid site. Refinancing is similar to consolidation in that you bring all your loans into one manageable loan. You can refinance both private and federal student loans together. Review your loans, including your interest rate, repayment terms, how much you pay every month, and how much you could save if you choose either of these options.
Dori Zinn has been a personal finance journalist for more than a decade. She loves helping people learn about money, specializing in topics like investing, real estate, borrowing money and financial literacy. This information will help you understand how you are paying down your debt over time. You can use this information to consider changes like whether to make payments beyond what is due to pay off specific loans with higher interest rates or adjust your monthly payment to pay your loans off faster.
If you have questions about your student loan statement, the best thing to do is call your loan servicer. When and How to Defer Student Loans. Latest vaccine numbers. Share This: share on facebook share on twitter share via email print. A federal student loan statement provides a summary of loan details, including the last payment received, current amount due and….
Related News. With a mortgage and wedding this year, I could do without the SLC sitting on possibly thousands indefinitely. RC, London. SLC has been overhauling its processes to allow, among other things, more frequent data-sharing with HMRC, and an online repayment service.
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