Nelnet

#3198

Rank

$4.79B

Marketcap

United States

Country

Leadership team

Mr. Michael Sullivan Dunlap (Exec. Chairman)

Mr. Jeffrey R. Noordhoek (Chief Exec. Officer)

Mr. Timothy Alan Tewes (Pres)

Products/ Services

Finance, Financial Services, FinTech

Number of Employees

1,000 - 20,000

Headquarters

Lincoln, Nebraska, United States

Established

1976

Company Registration

SEC CIK number: 0001258602

Net Income

500M - 1B

Revenue

Above - 1B

Traded as

NNI

Social Media

URL

https://www.nelnet.com

Overview

Location

Recognition and Award

References

Summary

Nelnet, Inc. engages in loan servicing, communications, education technology, services, and payment processing businesses worldwide. The Loan Servicing and Systems segment provides loan conversion, application processing, borrower updates, customer service, payment processing, due diligence procedures, funds management reconciliation, and claim processing services. This segment also provides student loan servicing software; business process outsourcing services specialized in contact center management, such as inbound calls, outreach campaigns and sales, and interacting with customers through multi-channels. The Education Technology, Services, and Payment Processing segment offers financial management services; school information system software; website design and cost effective admissions software; FACTS Giving, a donation platform; and customized professional development and coaching services, educational instruction services, and technology products that aid in teacher and student evaluations. It also offers tuition payment plans, and service and technology for student billings, payments, and refunds; solutions for in-person, online, and mobile payment experiences on campus; payment processing services, such as credit card and electronic transfer; faith community engagement, giving management, and learning management services and technologies; and an integrated commerce payment platform, financial management, and tuition payment plan services, as well as a school management platform that provides administrative, information management, financial management, and communication functions for K-12 schools. The Communications segment provides fiber optic service to homes and businesses for internet, television, and telephone services. The Asset Generation and Management segment acquires, manages, and owns loan assets. The Nelnet Bank segment operates internet industrial banks. The company was founded in 1978 and is headquartered in Lincoln, Nebraska.

History

Nelnet was founded in 1996 by Mike Dunlap and Steve Butterfield. In March 2000, Nelnet bought UNIPAC Service Corporation, an existing loan servicing company which was founded in 1978 and based in Denver, Colorado. As a subsidiary, UNIPAC Service Corporation was then renamed Nelnet Loan Services, Inc. In June 2000, Nelnet acquired In Tuition, Inc. a loan servicing company based in Jacksonville, Florida which was founded in 1979.Nelnet became a publicly traded company in 2003, at which point the two founders were co-CEOs. In August 2003, the parent company was renamed from Nelnet Loan Services, Inc. to simply Nelnet, Inc. The Initial public offering occurred on August 19, 2003, for $200 million. Steve Butterfield stepped down as CEO in 2007.Nelnet owns over 50 subsidiaries that administer and collect student loans throughout the United States and Canada, such as inTuition, infiNET, LoanSTAR, and TriCura Canada, Inc. Also through their subsidy, FACTS Management they own Ren Web, a school management program.

One of their lobbyists is Clark Lytle Geduldig & Cranford.

Mission

Creating opportunities for people where they live, learn, and work.

Vision

To empower our customers to achieve their dreams.

Key Team

Mr. James D. Kruger (Chief Financial Officer)

Mr. Terry J. Heimes (Chief Operating Officer)

Mr. Phil Morgan (Investor Relations Contact)

Mr. William J. Munn (Corp. Sec., Chief Governance Officer & Gen. Counsel)

Ms. Jackie Strohbehn (Pres of Nelnet Campus Commerce)

Mr. Matthew W. Dunlap (Chief Bus. Devel. Officer & Director)

Recognition and Awards

Nelnet has been consistently ranked as one of the top student loan servicers in the country. The company has also been recognized for its commitment to corporate social responsibility and environmental strategy, as well as its commitment to hiring and training veterans. Nelnet has also been named one of the Best Places to Work in Nebraska and was named a finalist for the BBB Torch Award for Marketplace Trust.