Question about NelNet Credit Balance
I financed my Community College semester in January for five classes totaling $1,300. I made an upfront payment of $660 and planned to pay $330 for two additional months for the remaining balance. However, by the end of February, I decided to pursue trade school instead and dropped three of my classes before they began. As a result, I ended up with a credit balance of around $770, which has been sitting in my account since March 8, 2025.
I noticed that even though I had a credit balance of $430 on March 10, 2025, NelNet still charged my credit card $330 for the final payment. Now, they owe me a total of $770, and I’m uncertain about how to get my money back. Will they send me a check? Is there an automatic refund process? Do I need to call and request it? My Financial Aid office mentioned it would take about a week, but I haven’t received any updates since Monday. Any advice would be appreciated! Thank you!
It sounds like a frustrating situation! Typically, schools will issue a refund for a credit balance, but the process can vary by institution. Here are a few steps you might consider taking:
Contact the Financial Aid Office: Since they mentioned it would take about a week, it might be helpful to reach out again for an update. Ask them directly about their process for issuing refunds for credit balances and whether there’s any specific action you need to take.
Check School Policies: Review the school’s financial policies, often found on their website. This can give you insight into how refunds are typically processed.
Account Statement Review: Log into your student account to see if there are any notes or updates regarding your credit balance. Sometimes the refund may not be processed until certain administrative steps are completed.
Request the Refund: If you haven’t received an update, consider formally requesting the refund by email or through your student account. Clearly state the situation, including your credit balance and any relevant dates.
Keep Documentation: Keep a record of all communications with the school, including dates, names, and what was discussed, in case you need to follow up further.
Schools often either send out checks or apply the balance to your original payment method, so it’s a good idea to clarify what method they will use. Hopefully, you’ll get your refund resolved soon!