Nelnet Frequently Asked Questions
- What is the Nelnet Management Program?
Nelnet Management Company and its subsidiaries provide a payment program used by institutions across the country including Prairie State College. Nelnet has been in the tuition management business for 15 years. For more information, visit www.factsmgt.com.
- If payments are made automatically from my bank account or charged to my credit card, does that mean Nelnet Management Company or Prairie State College has direct access to my account?
No one other than you and your financial institution has access to your account. When you arrange to make an automatic payment through Nelnet Management Company, you authorize a specific payment amount to be paid by your bank or credit card company on a specific date.
- Will Nelnet Management Company or any of its subsidiaries disclose any personal information to a third party?
No. Nelnet Management Company acts as agent for Prairie State College in administering their payment plans. In providing payment plan services for Prairie State College, Nelnet receives personal and financial information from their customers. It is the policy of Nelnet Management Company and its subsidiaries to protect all information provided to us by all participants in the Nelnet payment plans. From time to time Nelnet may share this information with the responsible parties on the Nelnet account and with Prairie State College. Nelnet does not sell or share any non-public personal information or client lists to any third party, except as agreed to by you, or as may be necessary to complete a transaction in the ordinary course of business, or as required under an applicable law.
- When will monthly payments begin?
Monthly payments will be processed starting on the first payment date you select when you enroll for monthly payments via Nelnet e-Cashier. Your payments will be processed on the same date each month.
- Can I pay the total contract amount in one payment?
Yes. You may pay the entire contract amount in one payment.
- What happens if the payment date is on a weekend or holiday?
If the payment date falls on a weekend or banking holiday observed by the Federal Reserve, the payment will be attempted on the next business day. Although Nelnet specifies the date each payment will occur, the responsible party’s financial institution determines the time of day the payment is debited to the account (this applies to Automatic Bank Payments only).
- What if I miss a payment?
If you miss a payment, you will receive an e-mail or letter from Nelnet with instructions on how the missed payment will be handled. A $25 Nelnet Missed Payment Fee will be assessed for each missed payment attempt. Your financial institution may also assess a fee. If missed payment fee(s) are missed, they will be reattempted. Nelnet missed payment fees are subject to change in future academic years, unless otherwise agreed by Nelnet Management Company and the institution identified on this contract. Please review the terms and conditions for further information.
- Can I make changes to my budget plan?
Yes. It is easy to make changes. Simply contact the Prairie State College Business Office at (708) 709-3577. All changes must be made at least 12 calendar days before the next scheduled payment date. If you choose the "pay in full immediately" option, no changes can be made to this agreement after it has been submitted. There will be a $30 renewal fee for each change in your contract.