NELNET EDUCATION LOAN SERVICING
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Transcript of NELNET EDUCATION LOAN SERVICING
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NELNET EDUCATION LOAN SERVICING
Webinar Wednesdays | September 14, 2011
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2 Webinar Wednesdays| September 14, 2011
The Loan Servicing Environment – Getting the Most from Nelnet As Your ServicerKimber Decker, Regional Director, Nelnet Partner Solutions
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3 Webinar Wednesdays| September 14, 2011
OVERVIEW OF PRESENTATION
• Developing relationships with schools
• Tour of our newly redesigned school-focused website
• Nsight enhancements
• Innovations for schools
• Innovations for borrowers
• Contact information
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4 Webinar Wednesdays| September 14, 2011
DEVELOPING SCHOOL RELATIONSHIPS
• Improving our contact database to ensure all schools get the information they need
• Practicing new ways of communicating with schools
o New Weekly Update
o Quarterly Postcards
o Blog
o Facebook
o Twitter
• Continuing to build/maintain relationships through the Partner Solutions Team
• Expanding School Service Center
• Goal: Clear, open communication
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5 Webinar Wednesdays| September 14, 2011
TOUR OF OUR WEBSITE
• Home
• Financial Literacy
• Training
• Nsight
• Resources
• The Team
• Jim’s Blog
• Contact Information
• Facebook and Twitter
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6 Webinar Wednesdays| September 14, 2011
TOUR OF OUR WEBSITE: HOME
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TOUR OF OUR WEBSITE: FINANCIAL LITERACY
Webinar Wednesdays| September 14, 2011
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MONEY MONDAYS
Webinar Wednesdays| September 14, 2011
Linked logo available for site
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FINANCIAL LITERACY TOOLS (SAMPLES)
Webinar Wednesdays| September 14, 2011
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10 Webinar Wednesdays| September 14, 2011
TOUR OF OUR WEBSITE: TRAINING
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WEBINAR WEDNESDAYS
• Webinar Wednesdays: Free webinar series began May of 2010
• Designed to provide additional training to schools on current relevant topics, Webinar Wednesdays continues to be a resounding success!
• Three new webinars for September (Consumer Information & IBR)
• Topics have included:o Using NSLDS
o Social Media
o Federal Direct Consolidation Loans
o Top Ten Compliance Issues
o Satisfactory Academic Progress
o New Program Integrity Rules
o Income Based Repayment
o More to be determined based on school needs
Webinar Wednesdays| September 14, 2011
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TOUR OF OUR WEBSITE: NSIGHT
Webinar Wednesdays| September 14, 2011
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13 Webinar Wednesdays| September 14, 2011
NSIGHT
• Tool for accessing loan information and reports on both lender-owned and Department of Education-owned loans that are serviced by Nelnet• Analyze real-time data• Transmissions encrypted for data protection and security• Access a secure user profile• Access particular views or data elements• Generate pre-programmed reports
o Flexible filtering options, save and exporto Types of reports:
-Core data- Deferment and forbearance data- Reference and PLUS dependent data-Select SSN-level data
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14 Webinar Wednesdays| September 14, 2011
NSIGHT-HOW TO REQUEST A USER ID
• E-mail the Nelnet School Service Center at [email protected] and provide the following information for each user in your office.o First and Last Name o School Name(s) o Entire School Code (Note: this is an 8 digit code(s)) o E-mail Address o Phone Number o Fax Number
• The School Service Center will notify you via e-mail once your user ID is created. If you do not receive your user ID within three business days of your request, please call the School Service Center at 1.866.463.5638
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RECENT NSIGHT ENHANCEMENTS
• Three additional easy button reports, including subsets of comprehensive reports.
o Late Stage Delinquency Report - all borrowers 250 days past due without having to type in criteria (prompts)
o Exiting Forbearance/Deferment Report - all students within 45 days of leaving forbearance/deferment without having to type in criteria (prompts)
o Grace Report - all students within 45 days of entering grace or in grace without having to type in criteria (prompts)
Webinar Wednesdays| September 14, 2011
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RECENT NSIGHT ENHANCEMENTS
• Three new search fields-added fields for repayment plan the borrower is currently in, last payment date and amount
• Streamlined report generating process-rather than copying information to a personal folder to run data, you may now find reported information from the public folder
• Centralized data reporting-database selection process has been eliminated; a report now automatically includes statistics from all three databases
• Acronym-free zone-eliminated abbreviations
• Intuitive search. Now you can search by individual school codes or include all school codes.
• More accurate labeling-“School Delinquency” folder is now “School Reports”
Webinar Wednesdays| September 14, 2011
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17 Webinar Wednesdays| September 14, 2011
TOUR OF OUR WEBSITE: RESOURCES
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TOUR OF OUR WEBSITE: THE TEAM
Webinar Wednesdays| September 14, 2011
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19 Webinar Wednesdays| September 14, 2011
TOUR OF OUR WEBSITE: JIM’S BLOG
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20 Webinar Wednesdays| September 14, 2011
TOUR OF OUR WEBSITE: CONTACT INFO
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21 Webinar Wednesdays| September 14, 2011
TOUR OF OUR WEBSITE: TWITTER
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22 Webinar Wednesdays| September 14, 2011
TOUR OF OUR WEBSITE: FACEBOOK
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INNOVATIONS FOR SCHOOLS
• Webinar Wednesdays-Continue to offer new training sessions
• Jim’s blog - From interviews with financial aid professionals, to financial literacy best practices, Jim’s blog provides links and resources, FAQs, and other information directly to your inbox!
• Nelnet Loan Servicing website –The school-focused website was recently redesigned! Please share your feedback!
• Facebook and Twitter - If you have a Facebook account or enjoy tweeting, you can follow Nelnet
• Nsight-New enhancements were recently added with more to follow
• Financial literacy materials - Materials for schools and borrowers were recently developed including tools to accompany the Money Mondays financial literacy series
• Weekly Update-New weekly email summary is sent to schools each Monday-notify us if you are not receiving it!
Webinar Wednesdays| September 14, 2011
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NELNET WEEKLY UPDATE DEBUT 8/15/2011
| Nelnet Education Loan Services
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SCHOOL SERVICE CENTER
• Monday to Friday-7:00 a.m. to 6:00 p.m. CST (7:00 a.m. to 7:00 p.m. CST early fourth quarter)
• 1.866.463.5638 (1.866.4NELNET)• [email protected]
o General questions on all loans in servicing (account status, address to return funds, default prevention, etc…)
o All questions regarding FFEL/commercial loans (loan adds/changes, disbursement adjustments, demographic changes, etc…)
o Assist in providing correct contact information if unable to provide resolutiono Nsight support (sign-up, navigation, password resets, etc…)
• 99.09% accuracy in resolving issues along with a 83% school satisfaction rating
• 5 associates in Lincoln, NE and Aurora, CO, with a combined 56 years of student loan servicing experience (early fourth quarter adding 3 more representatives to ensure that you have the best service possible)
| Nelnet Education Loan Services
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INNOVATIONS FOR BORROWERS
• Money Mondays kicked off February 14, 2011o In partnership with schools, free financial literacy webinars
provided to studentso E-mail templates, a logo for your website, and customizable
flyers are available• New payment system - Streamlines the process of making a
payment on both commercial and Department of Education-owned loans while allowing borrowers to make only one payment to Nelnet.
• Launched Manage My Account beta site: prompting customers to try out our new MMA beta site, which allows them to make a payment in three clicks, provides clean and easy navigation, and gives them easier access to account summaries.
Webinar Wednesdays| September 14, 2011
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PREVIOUS ONLINE PAYMENT SYSTEM
Webinar Wednesdays| September 14, 2011
Before…
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NEW ONLINE PAYMENT SYSTEM
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NEW MANAGE MY ACCOUNT & CHAT NOW
| Nelnet Education Loan Services
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INNOVATIONS FOR BORROWERS
• Improved borrower communications
o Expanded communications: To make sure our customers know we’re here to help, we are in the process of e-mailing approximately 160,000 grace borrowers and 1 million in-school borrowers
o Based on school feedback, envelopes used for borrower correspondence were updated, readily identifying Nelnet as a Department of Education servicer
o Extended call center hours: Nelnet has extended our borrower call center hours until 11:00 p.m. (Eastern).
| Nelnet Education Loan Services
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INNOVATIONS FOR BORROWERS: IVR UPGRADES
• Interactive Voice Response (IVR) upgrades (based on borrower and school feedback)
o Ability to make or postpone a payment
o Obtain payment plan and loan status information
o Request documents
o Listen to tax information
• In response to direct customer feedback, we have moved the option to speak to a representative to the beginning of our IVR menu
Webinar Wednesdays| September 14, 2011
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MOBILE MICROSITE & TEXT MESSAGING
• Mobile micrositeo Nelnet launched www.nelnetmobile.com
o Offers ability to sign up for text messaging
o Option to link to an optimized version of www.nelnet.com
o Download the Loan Assist and Loan Calculator mobile applications for iPhone and Android
• Text messaging - Borrowers can opt to receive texts including:o Payment due date
o Past due notifications
o Loan status changes
o Notifications that their online statement is ready to view
Webinar Wednesdays| September 14, 2011
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Account updates via text messaging
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NELNET MOBILE APPLICATIONS
• Loan Assist Mobile Application (iPhone & Android)o Allows borrowers to schedule payments up to 30 day in advance
o Provides customers with a way to review their account and group summary
o View their payment history
o Check the status of deferment/forbearance requests
o Use loan calculators
• Loan Calculator Mobile Application (iPhone & Android)o Calculate monthly payments
o Explore the amount of interest that will accrue during a period of deferment or forbearance
o View different repayment scenarios
Webinar Wednesdays| September 14, 2011
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Mobile website (nelnet.com)
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Online Payment System App (Loan Assist)
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Online Payment System App (Loan Assist)
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Loan Calculator App
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40 Webinar Wednesdays| September 14, 2011
SCHOOL FEEDBACK
Comments or Suggestions??
We want to know what you want from your servicers along with the challenges you face…
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41 Webinar Wednesdays| September 14, 2011
CONTACT INFORMATION
• Regional Director: Kimber Decker ([email protected])
• Nelnet School Service Center (SSC)o www.nelnetloanservicing.como [email protected] 1.866.463.5638
• Nelnet Borrower Customer Center (Service and Repayment)o www.nelnet.como 1.888.486.4722