(Detroit, MI) – Today, Wayne State University announced its selection of Nelnet (National Education Loan Network) as the University's primary student loan provider for the 2003-04 year. All new borrowers at Wayne State will have loans originated and serviced through the Family Federal Education Loan Program using Nelnet's student aid award and delivery technology for its borrowers.
"Nelnet was selected for its superior technology, borrower services, and customer-centric focus," commented Dr. Bryan J. Terry, Director of Financial Aid at Wayne State University. "The company has demonstrated the expertise and technology critical for the seamless system transition we require for the more than 31,000 students we serve."
In addition to the repatriation of its $35 million undergraduate loan program, Wayne State will utilize the Nelnet Financial Aid Answer Service to assist parents and students in navigating the financial aid process and in securing PLUS loans. A recent enhancement to Nelnet's customer service offerings, the Financial Aid Answer Service provides toll-free information and assistance for a wide variety of education finance topics.
"Nelnet is both honored and excited to be the selected service provider for Wayne State," commented David Bottegal, Executive Director in charge of marketing and sales. "We believe the school's decision to provide FFELP origination and servicing to new borrowers not only enhances the opportunities available to Wayne State and its students, but provides tremendous support for the FFELP platform as a whole."
Nelnet is a vertically integrated educational finance organization dedicated to providing products and services that facilitate education finance for students, schools, lenders, and guarantors. With over $9.5 billion in total assets, Nelnet originates in excess of $2 billion for itself and its service partners annually, and services, or provides servicing software for, more than $46 billion in student loans. Nelnet ranks among the nation's leaders in terms of total student loan assets managed. Information regarding Nelnet's services is located at www.nelnet.net.
Wayne State University is Michigan's only urban research university, fulfilling a unique niche in providing access to a world-class education at a great value. Wayne State's 13 schools and colleges offer more than 350 major subject areas. Additional information about Wayne State University is available at www.wayne.edu.