Janice Lozano
Nelnet is an independent business that provides a payment plan for students at various universities, including Fort Valley State University, Georgia Gwinnett College, and Glen Oaks Community College. While Nelnet is not a loan program, and no interest charges accrue, students can use it to pay off their student loans. Students can pay their Nelnet payment plan with a credit card, but a 2.85% convenience fee is assessed for each transaction. Although loan services generally do not accept credit cards, there are some workarounds, such as using a cash advance or buying gift cards with a credit card and then paying with those.
| Characteristics | Values |
|---|---|
| Can you pay Nelnet student loans with a credit card? | Yes, but it is not recommended. It is considered a cash advance and there may be additional fees. |
| Are there any alternatives? | Yes, you can use a prepaid debit card or a gift card. |
| Are there any fees for using a credit card? | Yes, there is a 2.85% convenience fee for each transaction. |
| How do I sign up for a Nelnet payment plan? | You can sign up through the college website or by calling Nelnet Campus Solutions at 800-609-8056. |
| When are payments deducted? | Payments are deducted on the 5th of each month for monthly Nelnet Payment Plans and on the 20th of each month for the Nelnet Pending Aid Plan. |
| What happens if I default or submit an invalid payment? | If you default or submit an invalid payment, you will not be able to participate in Nelnet payment plans again, and your balance will be immediately due. |
Explore related products
What You'll Learn
Workarounds for using a credit card
While Nelnet does not accept credit cards directly, there are some workarounds that you can use to pay your student loans with a credit card. Here are some options to consider:
Use a Gift Card
You can purchase a Visa or MasterCard gift card with your credit card and then call Nelnet to make the payment. Provide the gift card details as if it were a debit card. This workaround has been reported to work with Nelnet.
Sign up for a Payment Plan
Some universities and colleges offer payment plans through Nelnet that allow students to pay their tuition and fees in instalments. These plans often require a financial account or credit card to sign up. While you cannot pay directly with a credit card, having one may be necessary for enrolment. Once enrolled, you can update your payment method to a debit card or bank account.
Pay with Cash, Check, or Money Order
If you are paying in full, some institutions, such as Glen Oaks Community College, allow payment by cash, check, or money order. This option may be worth considering if you are able to pay off your student loans in a single payment.
Reimbursement from Your Employer
If you are employed, you may be able to work out a reimbursement plan with your employer. This option may depend on your employer's policies and whether they offer tuition assistance or reimbursement programs.
It is important to note that using a credit card to pay off student loans may incur additional fees and charges. Always review the terms and conditions of your credit card and loan agreements before proceeding with any payment method.
Jobseeker Support: Do Students Have to Repay?
You may want to see also
Explore related products
Payment plans and fees
Nelnet is an independent business that provides and manages a payment plan service. It is not a loan program, and no interest charges accrue. There is no credit check, and no student is required to use this service.
Students can enrol in the Nelnet payment plan by logging on to the student portal and going to the Student Account section. A down payment is charged immediately after signing up for Nelnet. Thereafter, Nelnet automatically debits the monthly instalment amount on the fifth day of each month. This payment date cannot be changed.
Students can pay by cash, check, or credit card, enrol in the Nelnet Payment Plan, or work out a reimbursement with their employer. If a student chooses to use a debit or credit card, a 2.85% convenience fee will be charged for each transaction. This fee may appear as a separate charge amount on the student's statement. Visa, Mastercard, American Express, and Discover are accepted.
If a student defaults or submits an invalid payment type, they will not be able to participate in payment plans with Nelnet again. If the down payment is unsuccessful, the plan is automatically canceled, and the balance is immediately due.
PhD Students and Taxes: Are Savings Taxable?
You may want to see also
Explore related products
Payment dates
At Georgia Gwinnett College, monthly instalments are also automatically debited on the fifth day of each month. However, students are advised not to pay the monthly contracted amount directly to the college, as it will be automatically debited from the designated account by Nelnet. Amounts exceeding plan budgets or balances not included in the plan are the only amounts to be paid directly to the college.
Glen Oaks Community College also offers a Nelnet payment plan, with monthly payments deducted on the 5th of each month for the Nelnet Payment Plan, and on the 20th of each month for the Nelnet Pending Aid Plan. If a payment date falls on a weekend or banking holiday, the payment will be attempted the following business day.
OPT Students: Who Pays FICA Medicare Taxes?
You may want to see also
Explore related products
Student enrolment
Students at Fort Valley State University can enrol with a bank account to pay automatically by ACH draft or use a valid credit or debit card number. Visa, Mastercard, American Express, and Discover are accepted. A 2.85% convenience fee is assessed for each transaction if using a debit or credit card. This fee may appear as a separate charge on the student's statement or on the statement of the person paying on their behalf.
Students who choose to use a debit or credit card will have a 2.85% fee assessed each time a payment is made through Nelnet. The payer has the option to refuse the convenience fee by selecting to pay by ACH (electronic bank debit). Down payments are charged to the student's bank account or credit card immediately after signing up for Nelnet. Thereafter, Nelnet automatically debits the monthly instalment amount on the fifth day of each month. This payment date cannot be changed.
Students who sign up with Nelnet are advised not to pay the monthly contracted amount directly as the monthly instalment is automatically debited from the designated account by Nelnet. Amounts exceeding plan budgets or balances not included in the plan are the only amounts to be paid directly.
How to Pay Mohela Student Loans: Credit Card Options
You may want to see also
Explore related products
Refunds
While Nelnet is not a loan program, it does offer a payment plan to students. Students can pay their fees using a credit card, but a 2.85% convenience fee will be charged for each transaction. This fee may appear as a separate charge on the credit card statement.
If a student's financial aid awards or other payments become available after they have made payments to Nelnet, a refund of credits resulting from Nelnet payments will be issued after receipt of funds from Nelnet.
If a student defaults or submits an invalid payment type, they will not be able to participate in payment plans with Nelnet again. If a student's down payment is unsuccessful, their plan is automatically canceled, and their balance is immediately due.
Nelnet Payment Services offers real-time transaction and batch payment reporting. Merchants can access reports to review settlement batch details, fee statements, and chargeback information. A merchant account may include a chargeback and/or retrieval fee.
Understanding Water and Sewerage Bills for Students
You may want to see also
Frequently asked questions
Yes, you can pay your Nelnet student loans with a credit card, but only if you have a bank account, credit card, or prepaid debit card. A 2.85% convenience fee is assessed for each transaction if using a credit card.
To pay your Nelnet student loans with a credit card, you can call Nelnet Campus Solutions at 800-609-8056 and speak to a customer service representative to update your account information.
Yes, you can also pay by cash, check, or money order. If you pay by cash, check, or money order, you must make the payment in person at the Cashier's Office within 48 hours of registering for classes online.
