Nebraska Student Debt Letter Legislation

Nebraska Legislation Recap

Nebraska passed student debt letter legislation in April 2016, requiring publicly funded post-secondary schools that receive federal education loan information to annually notify students prior to the student accepting a federal education loan about their existing federal indebtedness.

What information must schools report in order to meet the requirements of the law?

Schools must provide an estimate of:

The total dollar amount of federal education loans taken out by the student, not limited to what they received at the current school.
The potential total payoff amount, including principal and interest, or a range within which the total payoff amount may fall.
The monthly repayment amounts, including principal and interest, that a typical borrower may incur.
The number of years used in determining the potential total payoff amount.
The percentage of the aggregate borrowing limit the student has reached at the time the information is provided.

Are there any additional requirements or statements?

Information on how the student can access online repayment calculators.

Here's how to navigate it

Student debt letters are a great way to help you retain the students you've worked so hard to enroll. But for an already overworked staff, debt letter legislation can feel like just one more area requiring compliance. Our free downloadable resources can help you find your way!

How have your peers tackled student debt letters?

We surveyed schools mandated to send debt letters to learn how they tackled the task.

This summary report shares valuable insight!

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Where does the debt letter data come from?

College Cost Meter uses a school-generated file and NSLDS data that we collect to provide your students with the personalized financial aid details you want them to know. Our high-touch support makes debt letters easy. We'll work with you to:

Create your School College Cost Meter File
Help customize your debt letter to meet your student success goals
Perform a test to ensure it's working great

Download our Quick Guide for Nebraska

The Quick Guide for Nebraska helps schools navigate the School College Cost Meter File layout. It identifies the fields (in accordance with state requirements) that a school will need to populate in creating their School College Cost Meter File.