LINCOLN, Neb., June 12, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- Nelnet (NYSE: NNI) announced today that borrowers struggling to make student loan payments can now apply for a deferment or forbearance online, including the option to electronically sign the application. This solution gives borrowers fast options for meeting their student loan obligation by temporarily reducing or postponing payments.

The enhancement is part of the company's ongoing focus on providing borrowers with as much convenience and efficiency as possible during their school experience. Nterchange, the online tool that allows borrowers to manage their accounts online, will ask the borrower a series of questions and data validations to assess their eligibility. The borrower will be able to provide an electronic signature for most types of deferments and forbearance requests, and submit the application online. In some instances, applications will not require additional information and will be auto-processed immediately.

Through Nterchange, borrowers currently can view account information, loan details, and payment history, as well as make a payment online. The new functionality will allow them to also update demographic information besides applying for forbearances and deferments online.

"This is an exciting enhancement designed to help borrowers meet their financial obligations and save time," said Cheryl Watson, Nelnet's Chief Communications Officer. "It's what we mean by 'adding value' to the borrower's experience."

Nelnet is one of the leading education finance companies in the United States and is focused on providing quality products and services to students and schools nationwide. Nelnet ranks among the nation's leaders in terms of total net student loan assets with $21.3 billion as of March 31, 2006. Headquartered in Lincoln, Nebraska, Nelnet originates, consolidates, securitizes, holds, and services student loans, principally loans originated under the Federal Family Education Loan Program of the U.S. Department of Education.

Additional information is available at www.nelnet.net.

(code #: nnig)

SOURCE Nelnet

Media Contact: Sheila Odom, +1-402-458-2329; or Investor Contact: Cheryl Watson,
+1-317-469-2064

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