Facts & Questions
When will funds be withdrawn from my bank account?
NelNet (FACTS Management Company) 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.
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 NelNet Account. The notification also serves as a reminder that a $17 per quarter nonrefundable FACTS Enrollment Fee will be processed from the account indicated on the agreement.
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.
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 NelNet about your agreement or inquire online through your NelNet Account, you will be required to verify your 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.