Nelnet Bank Launches Private Student Loan Product

DRAPER, Utah, April 5, 2022 /PRNewswire/ -- Nelnet Bank, an online bank providing education lending products for students and families, announced today the newest addition to their product lineup: Nelnet Bank Private Student Loans. Launched to give college students a new, flexible option to fulfill their college funding needs, the loans will help borrowers meet education costs and achieve education goals. In addition, Nelnet Bank leverages Nelnet Velocity, a new advanced loan origination and servicing solution, to ensure a quick, seamless process for applicants.

With a range of packages for undergraduates, graduates, MBA students, law students and medical students, Nelnet Bank Private Student Loans provide a competitive offering to help students fill gaps in their college funding, when federal loans aren't enough.

Nelnet Bank Private Student Loans offer competitive fixed- and variable-interest rates, plus a menu of other features like an auto-debit discount, cosigner release, and no upfront fees. Nelnet Bank is part of Nelnet (NYSE: NNI), an organization with over 40 years of experience servicing student loans, meaning each Bank loan comes with expert guidance and support.

"Nelnet Bank was born from one of the most trusted names in the student loan arena, so we're uniquely positioned to help students and families successfully navigate college funding," said Nelnet Bank Chief Executive Officer Andrea Moss. "Our mission is to help families achieve their dreams with financial knowledge and access to education, so this was a natural step forward in how we can help families plan and pay for their education."

In addition to providing education lending products, Nelnet Bank also aims to help students and families develop healthy spending and saving habits and make well-informed decisions about loans when paying for education expenses. When borrowers and their families exhaust their federal student loan options, Nelnet Bank will be a place they can turn to further fund their education.

To learn more about private student loans from Nelnet Bank, visit NelnetBank.com/Private-Student-Loans.

About Nelnet Bank Nelnet Bank is an online bank that provides education lending products for students and families. Leveraging Nelnet's expertise from more than 40 years in student lending and servicing, Nelnet Bank serves diverse markets including students, young professionals, and higher education. The bank carries forward Nelnet's commitment to our communities by creating scholarships for low-income students, providing local non-profit leadership, and other direct community development investments. Accounts are subject to approval. Nelnet Bank received an Industrial Loan Company (ILC) charter in 2020. Nelnet Bank, Member FDIC. Nelnet Bank is a subsidiary of Nelnet, Inc. For more information, visit NelnetBank.com.

SOURCE Nelnet Bank