In order to help borrowers struggling to make student loan payments, Nelnet has provided borrowers with the ability to apply for a deferment or forbearance online, including the option to electronically sign the request . This solution expedites the process of obtaining a temporary reduction or postponement of payments, enabling borrowers to fulfill the terms of their student loan obligation without putting themselves in financial risk

The enhancement is part of the Nelnet’s ongoing focus to provide borrowers with as much convenience and efficiency as possible during their repayment experience . Nterchange, the online tool that allows borrowers to manage their accounts online, will ask the borrower a series of questions and data validations to assess his or her eligibility. The borrower will be able to provide an electronic signature for most types of deferment and forbearance requests and submit the request online. In some instances, requests will not require additional information and will be auto-processed immediately.

Through Nterchange, borrowers currently can view account information, loan details, and payment history, as well as make a payment online. The new functionality will allow them to also update demographic information besides applying for forbearances and deferments online.

“This is an exciting enhancement designed to help borrowers meet their financial obligations and save time,” said Cheryl Watson, Nelnet's Chief Communications Officer. “It’s what we mean by ‘adding value’ to the borrower’s experience.”