Nelnet

Nelnet, Inc. engages in the provision of education-related products and services, as well as loan asset management. It operates through the business following segments: Loan Systems & Servicing, Education Technology, Services and Payment Processing, Communications, and Asset Generation and Management. The System & Servicing segment specializes in student loan portfolio and the portfolios of third parties such as loan conversion activities, application processing, borrower updates, customer service, payment processing, due diligence procedures, funds management reconciliations, and claim processing. The Education Technology, Services and Payment Processing segment provides products and services to help students and families manage the payment of education costs at all levels, as well as school information system software for private and faith-based schools that help schools automate administrative processes such as admissions, scheduling, student billing, attendance, and grade book management. The Communications segment is the operation of Allo Communications LLC which provides pure optic service to homes and businesses for internet, broadband, television, and telephone services. The Asset Generation & Management segment is the acquisition, management, and ownership of student loan assets. The company was founded by Michael S. Dunlap and Stephen F. Butterfield in 1977 and is headquartered in Lincoln, NE.

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Nelnet, Inc. engages in loan servicing and education technology, services, and payment processing. It operates through the following segments: Loan Servicing and Systems (LSS), Education Technology Services and Payment Processing (ETSP), Asset Generation and Management (AGM), and Nelnet Bank. The LSS segment focuses on servicing federally owned student loans for the department. The ETSP segment provides education and payment technology and services for K-12 schools, higher education institutions, churches, and businesses in the United States and internationally. The AGM segment includes the acquisition, management, and ownership of its loan assets. The Nelnet Bank segment focuses on the private education and consumer loan marketplace. The company was founded by Michael S. Dunlap and Stephen F. Butterfield on December 21, 1977 and is headquartered in Lincoln, NE.

LINCOLN, Neb. , Aug. 7, 2023 /PRNewswire/ -- Nelnet (NYSE: NNI) today reported GAAP net income of $28.3 million, or $0.75 per share, for the second quarter of 2023, compared with GAAP net income of $85.1 million, or $2.26 per share, for the same period a year ago.

Nelnet Reports Second Quarter 2023 Results

LINCOLN, Neb. , July 26, 2023 /PRNewswire/ -- Nelnet (NYSE: NNI), a student loan servicing, back-office, contact center, and technology provider for government agencies, is pleased to announce its latest achievement in supporting the public sector.

Nelnet Awarded GSA Schedule to Expand Support for Government Agencies

LINCOLN, Neb. , May 8, 2023 /PRNewswire/ -- Nelnet (NYSE: NNI) today reported GAAP net income of $26.5 million, or $0.71 per share, for the first quarter of 2023, compared with GAAP net income of $186.6 million, or $4.91 per share, for the same period a year ago.

Nelnet Reports First Quarter 2023 Results

LINCOLN, Neb. , April 25, 2023 /PRNewswire/ -- Nelnet (NYSE: NNI) today announced its Nelnet Diversified Services division has been awarded a Unified Servicing and Data Solution (USDS) contract by the United States Department of Education (Department) Office of Federal Student Aid (FSA).

Nelnet Awarded U.S. Department of Education's USDS Loan Servicing Contract

Borrowers are slated to resume student loan payments in a few months and if they need help, it may be harder to get someone on the phone than in the recent past.

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LINCOLN, Neb. , March 23, 2023 /PRNewswire/ -- Nelnet (NYSE: NNI) today announced a staffing reduction to address lower pricing and reduced servicing volume for the company's federal servicing contracts as well as to align with the company's strategic consolidation and sunsetting of select loan servicing systems.

Nelnet Announces Reduction of Staff Due to Contract Changes Impacting Student Loan Servicing

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LINCOLN, Neb. , Feb. 28, 2023 /PRNewswire/ -- Nelnet (NYSE: NNI) today reported GAAP net income of $30.8 million, or $0.83 per share, for the fourth quarter of 2022, compared with GAAP net income of $132.7 million, or $3.46 per share, for the same period a year ago.

Nelnet Reports Fourth Quarter 2022 Results

LINCOLN, Neb. , Jan. 18, 2023 /PRNewswire/ -- Nelnet (NYSE: NNI) today announced changes to manage excess staff capacity due to delays in the government's student debt relief and return to repayment programs.

Nelnet Announces Changes to Staffing Capacity in Student Loan Servicing Division

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LINCOLN, Neb. , Dec. 16, 2022 /PRNewswire/ -- Nelnet (NYSE: NNI) today announced with great sadness that board member William "Bill" Cintani passed away on December 10, 2022.

Nelnet Mourns the Loss of Board Member William Cintani

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Why Nelnet Stock Jumped 10.6% in November

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LINCOLN, Neb. , Nov. 7, 2022 /PRNewswire/ -- Nelnet (NYSE: NNI) today reported GAAP net income of $104.8 million, or $2.80 per share, for the third quarter of 2022, compared with GAAP net income of $53.1 million, or $1.38 per share, for the same period a year ago.

Nelnet Reports Third Quarter 2022 Results

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Philadelphia, Pennsylvania--(Newsfile Corp. - September 12, 2022) - Consumer class actions have been filed against Nelnet (NYSE: NNI) over an apparent data breach that allegedly impacted 2.5 million account holders whose Personal Identifiable Information ("PII") were accessed unlawfully. The PII that was breached allegedly included account holders' names, addresses, email addresses, phone numbers, and Social Security numbers.

Shareholder Alert: Grabar Law Office Investigates Shareholder Claims Against Officers and Directors of Nelnet, Inc. (NNI)

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LINCOLN, Neb. , Aug. 10, 2022 /PRNewswire/ -- PaymentSpring, a division of Nelnet, Inc. (NYSE: NNI) and a leader in secure payment technology for education and non-profits across the United States, has announced it has changed its name to Nelnet Payment Services.

PaymentSpring Announces Name Change to Nelnet Payment Services

LINCOLN, Neb. , Aug. 8, 2022 /PRNewswire/ -- Nelnet (NYSE: NNI) today reported GAAP net income of $85.1 million, or $2.26 per share, for the second quarter of 2022, compared with GAAP net income of $83.9 million, or $2.16 per share, for the same period a year ago.

Nelnet Reports Second Quarter 2022 Results

News for Nelnet Stock (NNI)