How to apply for a loan?
Customers can not apply for a student loan directly via Nelnet services. Nevertheless, the company gives links to government agencies and federal financial institutions to apply for. So, a clientele can submit an application form for a student loan through a Nelnet bank or with the help of a federal agency in their state.
Requirements
The major eligibility requirements Nelnet shares with its customers so they can qualify with a suitable lender are:
- Being 18 years of eligibility
- Being a U.S. citizen or having permanent residency status
- Providing valid Social Security number
- Having a minimal 680 credit score
- Proving to have a steady source of income.
Application details
A customer should attach to the application their Social Security Number, valid government identification, credit history, employment, and income verification, the most recent tax document, pay stubs, bank account, and asset information payment obligations.
Applications are generally considered within one business day. Reasons for rejection may include a customer's insufficient credit score and income, poor creditworthiness, and lack of necessary documents.
