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Nelnet subsidiary to service $10 billion student loan portfolio

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A Lee Enterprises, Incorporated newspaper. Majority shareholder: David Hoffmann, Hoffmann Media Group.

Editor's Pick

Nelnet subsidiary to service $10 billion student loan portfolio

Progress Nelnet at Hudl, 2.13

Nelnet, through a subsidiary, will service a $10 billion portfolio of student loans that Wells Fargo is selling to private equity firms.

FRANCIS GARDLER, Journal Star file photo

Prefer us on Google Learn More

Matt Olberding

Nelnet is getting a big new student loan feather in its cap.

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Photos: Pandemic changes downtown landscape

Ghost Town, 10.20

Bruegger's Bagels in downtown Lincoln didn't survive the pandemic, although the lights remain on at two of its neighbors along Q Street -- Juice Stop and Running Company. With people staying home and working from home, downtown is missing its community, said business owner Nader Sepahpur. “The art community is not here, the music community is not here, the entertainment is not here.”

FRANCIS GARDLER, Journal Star

Ghost Town-Novel Idea, 10.21

“I love my job and I want to have a bookstore that supports the community." -- Cinnamon Dokken, owner, A Novel Idea, 118 N. 14th St.

FRANCIS GARDLER, Journal Star

Ghost Town-Judtih Andre, 10.21

“Construction is still going on, but I miss the energy people bring to downtown.” -- Judith Andre, downtown resident, with her corgi, Murray, in the Mission Arts Building, 124 S. Ninth St.

FRANCIS GARDLER, Journal Star

Matt Taylor

Matt Taylor, owner of the Tavern on the Square and The Other Room, has teamed up with several Lincoln businesses to add flowers, candles, chocolates and cigars to the cocktail kits his bars began selling after the coronovirus pandemic hit in March. 

FRANCIS GARDLER, Journal Star

Ghost Town-Chef Nadar, 10.21

"I remember downtown when downtown was dead. I keep saying this is an opportunity to make downtown better." -- Nader Sepahpur, longtime downtown restaurant owner

FRANCIS GARDLER, Journal Star

Downtown ghost town, Husker Headquarters

“Some people were OK with coming back into stores but a lot of people got spooked; they didn’t want to be out in public.” -- Blaine Braziel, marketing director, Husker Headquarters, 1120 P St.

FRANCIS GARDLER, Journal Star

Ghost Town - From Nebraska Gift Shop

“Instead of downsizing, we expanded. We’re just hoping for the best. We pray a lot.” -- Barb Ballard, owner of From Nebraska Gift Shop, 803 Q St.

FRANCIS GARDLER, Journal Star

Downtown ghost town, Cornhusker Marriott

When the Cornhusker Marriott closed in March, it illuminated a heart that glowed above downtown for months.

Courtesy photo

Downtown ghost town

Just before the Cornhusker Marriott reopened in August, it filled in the outline of the heart that had shone for months.

Courtesy photo

A walk downtown

A restaurant patron walks past a window art display called A Moment of Change by Kinzee Hillis, in downtown Lincoln on Oct. 19. 

Kenneth Ferriera, JOURNAL STAR

A walk downtown

Only a few rooms are lit in the Graduate Lincoln on a recent Monday evening.

Kenneth Ferriera, JOURNAL STAR

A walk downtown

A person walks past the recently closed Scooter's location in the Haymarket. Two downtown locations, including one in the Gold's Building, are closing. Owner Jason Metcalf said the closure wasn't due to the pandemic -- in fact, he said Scooters' sales overall have actually increased since before COVID-19 hit -- but because the company is moving toward making sure all its locations have drive-thrus.

Kenneth Ferriera, JOURNAL STAR

A walk downtown

After closing all its locations in mid-March, Marcus Theatres has reopened the Grand downtown with limited hours.

KENNETH FERRIERA, Journal Star

A walk downtown

A note on the door at Rusty Taco, 210 N. 14th St., says it will reopen in June, but it has not. There is a second location open at 27th and Pine Lake Road. 

KENNETH FERRIERA, Journal Star

A walk downtown

Ads encourage patrons to wear masks in downtown Lincoln. Mayor Leirion Gaylor Baird said she believes Lancaster County's mask mandate has helped people feel more comfortable shopping and has aided businesses in staying open since outbreaks can sideline their workforce.

KENNETH FERRIERA, Journal Star

A walk downtown

A person walks along the sidewalk in downtown Lincoln on Oct. 19. 

KENNETH FERRIERA, Journal Star

A walk downtown

Misty's Restaurant and Lounge sits empty due to reduced hours in downtown Lincoln on Oct. 19. 

Kenneth Ferriera, JOURNAL STAR

A walk downtown

A pair of bikers ride down the sidewalk in downtown Lincoln on Oct. 19.

KENNETH FERRIERA, Journal Star

Olsson 10.5

Office workers focus on their tasks as many of their colleagues' cubicles remain empty at Olsson in downtown Lincoln on Oct. 5. The number of employees working in the office is considerably lower since COVID-19 hit Lincoln in March. 

KENNETH FERRIERA, Journal Star

Olsson 10.5

An employee's calendar markings stop midway through March, when COVID-19 hit Lincoln and many office workers began to work remotely.

KENNETH FERRIERA, Journal Star

Olsson 10.5

Mementos and keepsakes remained behind as many office workers now work remotely at Olsson. The number of office workers downtown is considerably lower since COVID-19 hit Lincoln back in March.

KENNETH FERRIERA, Journal Star

Olsson 10.5

Office workers focus on their tasks as many of their colleagues' cubicles remain empty at Olsson in Lincoln's West Haymarket. The number of employees working in the office is considerably lower since COVID-19 hit Lincoln in March. 

KENNETH FERRIERA, Journal Star

Olsson 10.5

Tyler Troxel (left) consults with Brandon Roesler in a mostly vacant office space at Olsson as many of their co-workers work remotely on Oct. 5. The number of office workers downtown is considerably lower since COVID-19 hit Lincoln in March. 

KENNETH FERRIERA, Journal Star

Hitting the brakes, bike ridership during pandemic

Sales and occupation tax collections down

Parking revenue during COVID-19

YMCA shut down

The YMCA of Lincoln announced on Oct. 22 it was closing the Downtown YMCA, at 11th and P streets, permanently.

KENNETH FERRIERA, Journal Star file photo

YMCA shut down

The Downtown YMCA, at 11th and P streets, will close permanently, the YMCA of Lincoln announced Thursday.

KENNETH FERRIERA, Journal Star

Reach the writer at 402-473-2647 or molberding@journalstar.com.

On Twitter @LincolnBizBuzz.

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Related to this story

Lincoln company debuts with IPO on Nasdaq

Midwest Holding Inc. sold 1 million shares at $70 apiece, which it plans to fund the growth of one of its subsidiary companies.

Nelnet opens its online bank

The bank will initially offer refinancing of student loans but plans to offer its own private student loans next year.

Residential portion of Lincoln's Telegraph District making progress

The first residential building that's part of the mixed-use development east of downtown opened in August and another is scheduled to open in January.

Nelnet loses appeal of student loan contract denial

A spokesman for the company said it is looking at other potential opportunities to continue to have a role in the servicing of federal student loans.

Nelnet buys provider of faith-based online learning services

Catholic Faith Technologies has a software platform that offers micro-learning opportunities and customizable training platforms to churches, …

Nelnet’s Alyssa Martin enjoys balance of work and life in hometown

"Honor your intuition," Alyssa Martin said. "That’s the best thing you can do. That’s what ends up leading to change in a positive way.”

Despite COVID-19, Nebraska's banks had record profits in 2020

State banks made a combined $297 million in the fourth quarter and $1.032 billion for the year.

Nelnet, coming off best year ever, to hire hundreds in Nebraska

The company set a record for earnings per share in 2020 and now plans to hire "a few hundred" people in Lincoln, Omaha, Columbus and Sidney.

Nelnet to hold onto student loan servicing business for two more years

The company's federal student loan servicing contract, which was set to expire at the end of the year, will now go through the end of 2023.

Close

Progress Nelnet at Hudl, 2.13

Nelnet, through a subsidiary, will service a $10 billion portfolio of student loans that Wells Fargo is selling to private equity firms.

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