Nelnet Receives Request Related to On-going Audit

Today, Nelnet, Inc., received a request as a part of on-going field work related to the audit by the Office of Inspector General of the Department of Education (OIG) of Nelnet’s portfolio of student loans receiving 9.5% special allowance payments. Nelnet has been asked to respond to preliminary exception reports describing potential issues raised by the OIG. The OIG requested additional information in connection with issues of a technical nature concerning the company’s qualification for the special allowance payments. Nelnet remains confident in its business practices and believes it has billed for the special allowance payments in accordance with applicable laws, regulations, and Department of Education guidance; however, the company cannot predict the outcome of the audit or any subsequent review by the Department of Education.