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Student FAQ

What is Firstmark Services?
Firstmark Services is a private student loan servicer that is a division of Nelnet, Inc.

Auto Debit

Auto Debit Terms and Agreement
I authorize Firstmark Services to automatically debit my checking or savings account. I understand this auto debit will be made each month that my loans are in an active repayment status as noted on my monthly statement, even if I have loans that are past due or if I have previously paid more than the minimum amount due (known as being paid ahead). If the due date falls on a weekend or holiday, my payment will be automatically withdrawn the next business day, but my loans will not be considered past due. I understand that I may make additional, one-time payments at any time without disrupting my regularly scheduled monthly payments by logging in to FirstmarkServices.com or mailing payments to the address on my monthly statement. Payments received in excess of or in addition to my minimum monthly payment amount will be applied in prorated payments across all of my student loans currently in repayment based on my outstanding principal balance, unless otherwise requested. (Example: If I have two loans in the amount of $1,000 and $3,000 and I make an overpayment of $100, Firstmark will apply $25 to the smaller balance and $75 toward the larger balance.)

The required monthly installment amount can change for reasons such as interest rate increases, changes in the repayment plan, and capitalization of interest after deferment or forbearance. I understand that if the minimum monthly installment amount changes, the authorized debit amount will also change to the new required monthly installment unless I have selected a payment amount that is higher than the new minimum payment required. The new monthly installment amount will be provided on my billing statement.

I agree that any payments not honored are my responsibility, and Firstmark will not incur any liability or expense as a result. I understand that sufficient funds for the payment must be in my bank account. If sufficient funds are not in my bank account, I may be charged a returned funds fee. Three consecutive occurrences of returned funds may result in additional fees and/or the cancellation of my auto debit agreement. I understand that my monthly debit could be reattempted through my bank a maximum of one time.

This authority is to remain in effect until my loans are paid in full, if my loans change to a non-repayment status, or if Firstmark has received verbal or written notification from me. Written requests to change or cancel must be received at least three business days before the next scheduled payment to allow for delivery and processing time, requests via phone can be made up to one business day before my payment due date.

It is my responsibility to notify Firstmark of any changes to my checking or savings account. I understand that I can change or cancel my auto debit payments via email (CustomerService@FirstmarkServices.com), fax (866.258.9233), phone (888.538.7378), or mail (Firstmark Services, P.O. Box 82522, Lincoln, NE 68501-2522). A request to change or cancel auto debit can be honored up to three business days before your next scheduled auto debit date; however, please allow adequate time for receipt and processing.

When can I sign up for auto debit?
To be eligible for auto debit, your loan(s) must meet certain eligibility requirements. These requirements include, but are not limited to:

• Loan(s) must be in a status that requires payments
• Loan(s) must be current (not past due)

You can sign up for auto debit online by clicking Set Up Auto Debit in the left panel after logging in to your account.

What are the benefits of using auto debit?
Automatic payments make it easy to ensure that your payments are always on time.

How do I check if I am signed up for auto debit?
Once logged in, click General Loan Information from the home page. In the Billing Method column, KwikPay will appear when signed up for auto debit. There you can see if your loans are being automatically debited.

How do I make changes to my auto debit account information?
You can change the payment amount, banking information, and add new loans to auto debit through the website by clicking on Set up Auto Debit. In order to change the due date or cancel auto debit please contact a representative at 888.538.7378.

I currently use auto debit but my payment did not automatically deduct from my account over the weekend. What do I need to do to make a payment?
Payments are only processed on business days. If your payment due date happens to fall on a weekend or holiday, your payment will pull on the following business day. This may cause your account to appear as past due until the payment posts. Processing of payments on business days will not cause you to receive a late fee.

Firstmark Online

I set up an account when I applied for my loan online. Why do I need to set up a new account?
The website that you used to complete your loan application is not directly connected to the Firstmark Services website. Because these are two separate systems, you will need two separate accounts. Your www.firstmarkservices.com account will allow you to review account details, make payments, view your statements, and more.

How do I register for my online account?
1. Go to www.firstmarkservices.com and click Register Now below the login.
2. You’ll need to enter your Social Security number, full name, email address, and date of birth.
3. Create a username and password and click Submit.
4. Verify that your contact information is correct and make any necessary changes and submit.
5. Select an image from those displayed to help you recognize that you are logging into a secure Nelnet website.
6. Select the checkboxes next to three security questions and answer the questions.
7. Review the terms and conditions.
8. If you agree with the terms and conditions, select the checkbox, and click Go to My Account.

Things to remember:

Your username may be any combination of six to 16 letters and numbers. It cannot contain special characters ('?&%$#@+!~, etc.). It must begin with a letter. Your username won't be available for you to view through your account after you create it, so be sure to select a username you will remember.

Your password may be any combination of eight or more letters and numbers. It cannot contain one of the following special characters (!,@,#,$,&,*). Your password won't be available for you to view through your account after you create it, so be sure to select a password you will remember.

The answers to the security questions are not case sensitive and you can use alpha, numeric, and special characters, as well as spaces.

Can my cosigner view information online as well?
es, Cosigners will need to set up their own account. Once registered, cosigners will have full access to account details for all loans they have cosigned.

What if I get locked out of my Firstmark account?
Please contact Firstmark Services so that a representative may assist you at Customer.Service@firstmarkservices.com or 888.538.7378.

Can I change the answers to my security questions and image at a later time?
Yes. Once logged in, click on the My Settings tab and click the Change button to alter your password, image, or security questions.

Can I change my personal account/profile information?
Yes. Changes can be made online. Log into your account and visit the Personal Info link.

Authorized Parties

What is an Authorized Party?
An Authorized Party is defined as a borrower, cosigner, or a third party who has filled out a Release of Authorization form. A third party may also speak on the account one time if given verbal permission by the borrower or cosigner during the same phone call.

What is a Release of Authorization?
A borrower or co-signer can request that a third party (spouse, parent, etc.) have the ability to obtain loan information by completing a Release of Authorization form. This allows the third party to obtain information, but they are not allowed to make changes to the account. The legal responsibility for a loan remains with the borrower and any cosigners.

Why can’t I see my loan?
If you are not a borrower or cosigner, or if your loan is not serviced by Firstmark Services, you will not see the loan listed. You will need to contact your current servicer for more information.

When calling the IVR how do I connect to an Advisor?
To get to the main menu, enter either your account number, without the preceding zeros or numbers after the dash, or the last four digits of your Social Security number (SSN), as it is crossed checked with your phone number.


How can I make a payment?
Click the Payment Options link to view how to make payments online, by mail, or over the phone. There are no service fees associated with payments.

How do I make online payments?
Login and click Make a Payment and then click on the specific loan or loan group that you wish to make your payment towards. Payments made before 4:00p.m. (Central) can be viewed under pending payments. Payments will be posted to your account after 4:00 p.m. (Central). If your loan is in a status such as bankruptcy, claim, or claim filed you may no longer have this option and will be required to speak with a representative at 888.538.7378 to schedule a payment.

Can I make a payment using my credit or debit card?
Dependent upon your lender guidelines, we may be able to accept a credit card payment. Call 888.538.7378 to find out if this option is available for your loan program.

Can I make a payment over the phone?
Yes. Call our customer service team at 888.538.7378 to make a payment free of charge.

Are there any penalties for paying off my student loan early?
There are no pre-payment penalties for paying off your student loans early.

Do I need coupon books?
Firstmark Services does not use coupon books. Statements are sent approximately three weeks before the due date for each payment.

Interest & Fees

How are my interest-only payments calculated?
Firstmark Services bills forecasted interest from the date interest was last satisfied through your next due date. You are not able to pre-pay interest. If you pay prior to or after your due date, the amount that you are billed can be altered, as interest accrues daily. If you accrue $1 of interest per day and make a $40 payment after 30 days with interest-only payments required, $30 would go to interest and $10 would go to principal.

Simple interest is a calculation of interest accrued on a daily basis.

Formula for Daily Interest Accrual:
(Current principal balance) x (Interest rate)
(Number of days)


How do I know when I have a payment due?
Statements are sent approximately three weeks prior to your due date. You can receive your statements by mail or opt in to eStatements. When using eStatements, you’ll receive an email notification once the statement is available to view online. Some loan programs do not provide cosigners with mailed statements, but they are able to enroll in eStatements. To opt in to eStatements, click on the ‘Statements’ tab.

I don’t understand my statement.
For more information on reading your Firstmark Services billing statement, please click here.

What does the Total Outstanding Balance refer to?
This amount includes your unpaid principal, outstanding interest, any outstanding fees, as well as any interest that is projected to accrue in the next 20 days. To receive a payoff quote for a specific date, please contact our Customer Service department at 888.538.7378.

How is my loan reported to the credit bureaus?
Account status is reported as of 4:00 p.m. (Central) on the last business day of the month. A derogatory mark is reported depending on delinquency standards of the loan program. All phone and web payments must be authorized before 4:00 p.m. (Central) in order for the payment to be effective that same business day.

If my account is in default, how can I resolve it?
Please speak with a representative at 888.538.7378 to receive the contact information for defaulted loans.

Delinquent Loans

I received notification that I am past due on my loan payments. What do I need to know?
Unless you notify this office within 30 days after receiving the notice that you dispute the validity of the debt or any portion thereof, our office will assume the debt is valid. If you notify our office in writing within 30 days from receiving the notice, we will obtain verification of the debt and mail you a copy. Our office will provide you the name and address of the original creditor (if different from the current creditor), if you provide a written request for this specific information within 30 days after receiving the notice.

California Residents
The California Rosenthal Fair Debt Collection Practices Act and the federal Fair Debt Collection Practices Act require that, except under unusual circumstances, collectors may not contact you before 8 a.m. or after 9 p.m. (in your time zone). They may not harass you by using threats of violence, arrest, or by using obscene language. Collectors may not use false or misleading statements or call you at your place of employment if they know, or have reason to know, you may not receive personal calls. Collectors may not tell another person, other than your attorney or spouse, about your debt. Collectors may, however, contact another person to confirm your location or enforce a judgment. For more information about debt collection activities, you may contact the Federal Trade Commission at 877.FTC.HELP or at FTC.gov.

My account is only one day past due. Why has my payment doubled?
Our system always provides the payment information for the current due date, meaning once the account has fallen past due, we are providing the information for the next payment due date.

Please be aware that you are not required to pay the full amount listed. To make only the past due payment, select the Custom Payment Amount and schedule your payment for the past due amount only. If you have been assessed late fees please be sure to include those in order to bring the account current. Your next regularly scheduled payment amount will be due on the next payment due date. If you are unsure how much to pay to bring your account current, please call a representative at 888.538.7378.

Payment Relief

What if I can’t afford to pay my minimum monthly payment?
There may be repayment options available to help make your monthly payment more manageable. Please call a representative at 888.538.7378 to determine if you’re eligible.

If your loan program does not offer options that will work for you, you may consider a private loan consolidation. This option can often reduce your monthly payments by offering a longer repayment term and can also potentially reduce your interest rates.

Can I defer my payments?
Please call a representative at 888.538.7378 to explore what options your loan program offers.

What is a forbearance?
A forbearance is a temporary suspension of payments. Interest continues to accrue during periods of forbearance, and any unpaid interest will be added to the current principal balance at the end of the forbearance period. This may increase your monthly payment amount once you re-enter repayment. Call a representative at 888.538.7378 to explore what options your loan program offers.

Can I change the day my payment is due?
You can request to change your due date as long as your account is current however, the month and year your payment is due cannot be changed. To make this change, call a representative at 888.538.7378.

What happens to my student loan when the borrower/consigner declared bankruptcy (chapters 7, 11, 12, or 13)?
This may vary depending on the Bankruptcy type and your loan program. Contact a representative at 888.538.7378 to confirm how your loan may be affected.

I have become disabled. What payment options are available for my student loans?
Please contact a representative at 888.538.7378 to discuss the options provided by your loan program.

I am active duty in the military. Do I receive any benefits?
Visit our Military Benefits page to see what options are available for you, or contact a representative at 888.538.7378 to learn more.

Can I consolidate my loans?
Loan consolidation or refinance options are available to those who meet certain credit criteria. This option may reduce your payments by offering a longer repayment term and may reduce your interest rates.

Consolidated Loans

I am having my loans consolidated and they will be serviced by Firstmark. Can you tell me when the funds will be disbursed?
Disbursements are issued by the lender of your consolidation loan, therefore we cannot provide you this information. Questions regarding disbursements on your recent consolidation should be directed to the lender with which you consolidated. If you had overpayments that will be refunded, please contact your prior loan holders for information on how long the refund will take and to whom the funds will be issued.

My loans were consolidated and the prior servicer was overpaid. When can I expect a refund?
If you had overpayments that will be refunded, please contact your prior loan holders for information on how long the refund will take, and to whom the funds will be issued. Once the refund is received by Firstmark it will be applied directly to the current principal balance.

Cosigner Release

Am I able to release the cosigner from my loan?
Dependent on your loan program, you may be eligible to have the co-signer released from your loan. Please contact a representative at 888.538.7378 to see if this option is available to you.

Identity Theft

I may have been a victim of Identity Theft. What options are available to me?
Firstmark Services has compiled information to help you sort through this important issue. You can find this information here.