Nelnet Campus Commerce, the company’s higher‑education payment technology arm, announced that it has processed more than 230,000 ACH refunds totaling $602 million and an additional 60,000 paper‑check refunds worth $90 million in 2025, a record volume for the platform as of the announcement date. The combined $692 million in refunds demonstrates the platform’s ability to handle large transaction volumes and signals growing adoption by institutions.
The milestone follows a steady increase in refund volumes over the past years, with the 2025 total surpassing the previous year’s aggregate. It also reflects the progress of Project Horizon, Nelnet’s multi‑year modernization effort that expands engagement, product offerings, and support across campus payments. By automating refund processing, the platform reduces manual work for bursar offices and improves the student experience, a key selling point for higher‑education partners.
From a financial perspective, the expanded refund capacity is expected to drive higher fee revenue for Nelnet’s Education Technology Services and Payments segment. While the company has not disclosed specific revenue figures attributable to the refund volume, the increased adoption of the platform is projected to strengthen customer retention and generate recurring revenue, aligning with Nelnet’s strategy to diversify beyond loan servicing.
Management emphasized the operational benefits of the refund solution. Brittany Hubbard, director of product strategy, noted that the system addresses the time‑consuming nature of refund processing and reduces “where’s my money” calls to bursar offices. Cassandra Nash of Palomar College praised the simplification of the refund process and the availability of direct deposit, while Jackie Strohbehn, president of Nelnet Campus Commerce, highlighted the company’s commitment to supporting higher‑education partners and the ongoing innovation through Project Horizon.
The achievement positions Nelnet Campus Commerce competitively in the higher‑education payment technology market. Its proven scalability and reliability in handling large volumes differentiate it from rivals, while the focus on operational efficiency and student experience aligns with institutional priorities. The milestone also reinforces Nelnet’s broader strategic shift toward fee‑based businesses, supporting the company’s goal of generating recurring revenue and improving operational efficiency.
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