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Nelnet Refunding Frequently Asked Questions

Who is Nelnet?

Nelnet is an industry leader in partnering with schools to provide refunding and payment services through a convenient student portal.  Choices for refunds include an electronic deposit to the students’ bank account or deposit to a reloadable debit card supplied by the student.

What are my options for receiving a refund?

  • Direct Deposit to a bank account provided by the student
  • Deposit to a reloadable debit card provided by the student

How do I select a Refund Method?

  • Log on to your MyLETU account
  • Select the Student Accounts Tab
  • Then select the Refund Management option on the left hand menu
  • You will then have a button to select Refund Management.  This will take you to the Nelnet site. 
  • Follow the prompts to Create an Account
  • After creating an account—select Manage Refunds from the Home tab to walk through Enrolling in a Refund Method

What kind of refund could I receive from LETU?

  • excess funds from your Financial Aid awards, loans or grants after your tuition has been paid
  • credit balance resulting from a dropped course (following the refund policy for tuition)
  • overpayments made by the student

What if I don’t make a Refund Method selection?

Although you may not currently expect to receive a refund, you may receive one in the future.  By making a Refund Method selection now, you will be able to ensure that you’ll always have your refund delivered in the method that is convenient for you and easy to access.  If you do not have a Refund Method on file when a refund is uploaded for you, you will be contacted to remind you to set up a Refund Method. 

Can I change my Refund Method after it is set up?

Yes, you can change your Refund Method through your Nelnet portal.  After logging into Nelnet, changes can be made by selecting Manage Refunds.

Will I be notified when a refund is being processed?

Yes, you will receive an email notification that a refund is in process.  This notification will also notify you that you have 24 hours to make any updates to your Refund Method should your account information have changed since you established a Refund Method.

When will refunds be issued by the school?

Refunds will be issued by the school on a set schedule with funds being processed through Nelnet once a week initiated each Wednesday. 

What if I have additional questions?

For additional questions or assistance, please contact the Student Accounts Office at 903-233-4140 or StudentAccounts@letu.edu.

 

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