Credit Balance with Monthly Payment Plan

When a student sets up a Nelnet payment plan, the student account is credited for the entire term budget. As each monthly payment is made, Nelnet holds the payment for a minimum of 28 days before remitting the payment to the University of Portland. Because the funds posted to the student account are not received until several weeks after the Nelnet plan is paid in full, a refund from a credit on a student account with a Nelnet plan is not available until all obligations to Nelnet have been fulfilled and the funds for the entire Nelnet credit on the student account have been remitted to the University.

Students and designated payers have the option of lowering the monthly payment if there is a credit on the student account by contacting the Office of Student Accounts to adjust the Nelnet plan by the amount of the credit. Students who prefer not to have their Nelnet plan adjusted at the time the credit is created will automatically have their plan adjusted around the fourth week of the spring semester. Once the Nelnet plan is adjusted, any remaining credit on the student account will be refunded to the student.