Nelnet Bank Review

4.49% with auto debit discount-15.47% APR. (See disclaimer below.)

6.29% with auto debit discount-15.51% APR. (See disclaimer below.)

Fixed interest rates range from 4.49% APR (with auto debit discount) to 15.47% APR (without auto debit discount). Your interest rate will depend on your (and if applicable, your cosigner’s) credit qualifications. The fixed interest rate will remain the same for the life of the loan. Variable interest rates range from 6.29% APR (with auto debit discount) to 15.51% APR (without auto debit discount). Your interest rate will depend on your (and if applicable, your cosigner’s) credit qualifications. Variable rates may increase after consummation. Variable rates for Nelnet Bank Student Loans are calculated using either (a) the One-Month SOFR; (b) the 30-day Average SOFR; or (c) the forward-looking term rate based on SOFR as published by the Federal Reserve Bank of New York and/or The Wall Street Journal “Money Rates” table on the twenty-fifth day (or the next business day) of the immediately preceding calendar month. The variable rate may reprice and change on the first day of each month if the SOFR index changes. This may result in higher monthly payments. The lowest interest rate for each loan type requires automatically withdrawn (“auto debit”) payments. The lowest rate is available only to the most creditworthy applicants. Not all borrowers will receive the lowest rate., The interest rate and Annual Percentage Rate (APR) may be higher depending upon (1) the credit history of the borrower and, if applicable, the cosigner, (2) the repayment option and loan term selected, and (3) the loan type selected. If approved, applicants will be notified of the rate qualified for within the stated range.

Nelnet Bank offers the standard 0.25% interest rate discount for borrowers who sign up for autopay. (See disclaimer 2.)

DISCLAIMER 1 CREDIT SCORE: Checking your rate results in a soft credit pull, which will not affect your credit score. If you continue with your application, Nelnet Bank will request your permission to obtain your full credit report from one or more consumer reporting agencies. This is a hard credit pull and may affect your credit score. DISCLAIMER 2 AUTO DEBIT: Interest rate reduction of .25% for automatically withdrawn payments from any designated bank account (“auto debit discount”). Auto debit discount applies when full payments (including both principal and interest) are automatically drafted from a bank account. The auto debit discount will continue to apply during periods of approved forbearance or deferment if the auto debit discount was in effect at the time of receiving the forbearance or deferment. Auto debit discount will remain on the account unless (1) the automatic deduction of payments is canceled or (2) there are three consecutive automatic deductions returned for insufficient funds at any time during the term of the loan. DISCLAIMER 3 COSIGNER RELEASE: A request for the cosigner to be released can be made by either the borrower or cosigner when each of the following conditions has been met: • The account must have been in full principal and interest repayment for at least 24 months. • Twenty-four consecutive, on-time principal and interest payments, or lump sum equivalent, must have been made. NOTE: A lump sum payment does not replace the requirement to have been in full principal and interest repayment for at least 24 months. Interest-only or fixed-pay payments while enrolled in school do not qualify towards the 24 consecutive on-time payments. • The loan must be current at the time of request. • The loan must not have been in deferment, hardship forbearance, or other alternative payment assistance plan within the past 24 months. • The loan must not have been permanently modified from its original terms in the credit agreement. • The primary borrower must be a U.S. citizen or have permanent residency in the United States. • The primary borrower must meet the age of majority requirement in their permanent state of residency. • Requirements are subject to change.

*This referral partner is not the creditor of Nelnet Bank loans and may receive compensation from Nelnet Bank for the referral of Nelnet Bank loan customers.