Lincoln-based Nelnet announces hundreds of additional layoffs

Published: Mar. 23, 2023 at 10:26 PM CDT|Updated: Mar. 24, 2023 at 9:22 AM CDT
Email This Link
Share on Pinterest
Share on LinkedIn

LINCOLN, Neb. (WOWT) - Nelnet, the student loan service company based in Lincoln, is cutting an additional 550 positions in its diversified services division.

In an online news release, Nelnet says it received a contract modification from the Department of Education Wednesday, which significantly decreased the price earned by the company per borrower per month.

The company also says it was notified last month that the Department of Education would transfer one million borrowers from Nelnet to another federal servicer.