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Installment Payment Plan FAQs

Frequently Asked Questions

  1. When and what time will the funds be withdrawn from my bank account? The plan schedules the date for each payment, but your bank determines the time of day when the payment is debited. Check with your bank to determine how far in advance funds should be deposited in your account to ensure your payment clears. If a payment date falls on a weekend or banking holiday, the payment will be drawn the following day.
  2. How will I be notified of my payment information? Once your agreement is posted to the payment plan system, you will receive a confirmation notification of your payment amount by email or letter. This notification includes important information that you will need to log onto your payment plan account. Your payments will be processed until the full balance is paid.
  3. Can I pay by phone with Nelnet Business Solutions? The payment plan system does not accept payments by phone. Your payments are processed electronically.
  4. What is the payment plan access code? As a security measure, Nelnet Business Solutions asks the person responsible for the payments to create an access code. You will need this access code if you call Nelnet Business Solutions or inquire about your account online. If you do not create an access code, one will be assigned to you randomly. The access code will appear on your confirmation notification, so it is important to keep a copy of the confirmation.