Nelnet is a loan servicer company in the United States. It has agreed to a settlement of $10M to solve a class action lawsuit, which was filed against the company for the 2022 data breach incident. It is going to benefit the class members of the settlement.
The settlement has received preliminary approval from the court; now class members can file their claim form to claim a portion from the $10 million fund. Read this article to check what the deadline to file a claim is, how much you can expect to get, and much more.
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$10M Nelnet Data Breach Settlement
The $10M Nelnet data breach settlement resulted from a class action lawsuit, which was filed against the company alleging that it doesn’t take appropriate actions to protect the personal information of their consumers, due to the August 2022 cybersecurity incident incurred, which resulted in compromising personal information of 2.5M individuals.
If you are one among the individuals whose personal information was compromised in the Nelnet August 2022 data breach incident, you can file a claim form to get a portion from $10M. The important dates for the settlement are made public; the deadline to file a claim and raise an objection and opt out from the class members is March 5, 2026.
Who will get a payout from the Nelnet settlement?
The payout from the $10M Nelnet data breach class action settlement will be received by class members who file their claim form on or before the due date. It can be filed online through the settlement portal and offline via postmarking.
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Who are the class members of the Nelnet settlement?
If you meet the following requirements, you are a class member for the $10M Nelnet data breach class action settlement.
- You are a US citizen.
- Your personal information was compromised in the Nelnet August 2022 cybersecurity incident.
- You received a notice with a unique ID and PIN.
How much will be received from the Nelnet settlement?
The amount you can get from the Nelnet data breach class action settlement is a maximum of $5,000. It can be claimed for the out-of-pocket expenses incurred due to the Nelnet August 2022 cybersecurity incidents. Eligible expenses are:
- Unreimbursed fraudulent charges on bank or credit card accounts
- Fees for freezing or unfreezing your credit
- Costs of credit monitoring or identity theft protection services
- Bank fees (overdraft fees, insufficient funds fees) caused by fraud
- Fees for replacing government IDs.
- Notary, postage, fax, or copying costs related to resolving identity theft
- Long-distance phone charges related to fraud resolution
- Professional fees (accountant, attorney, credit repair services)
- Costs of identity theft insurance deductibles
You can get an additional up to $100 for lost time; it is available for up to four hours with the rate of $25. In addition to cash benefits, you will also get two years of free credit monitoring and identity restoration services.
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How to file a claim form for the Nelnet settlement?
In order to file a claim form for the Nelnet settlement, please follow the step-by-step instructions available below.
- Go to the settlement portal at https://nelnetsettlement.com/.
- Click on the ‘File A Claim’ option; you will find it in the menu bar.
- Fill in your Unique ID and PIN, and click on the Submit button.
- Enter your name, mobile number, email address, and other details.
- Upload documents for the out-of-pocket expenses.
- Choose a payment gateway such as direct deposit and provide your bank account details.
- Review all the details you have provided and click on the Submit button to file a claim.
When to expect the Nelnet settlement payout?
The payout from the Nelnet settlement will be received after the final approval. As the fairness hearing is scheduled to take place on May 15, 2026, we can expect the court will approve the settlement by the second or third week of June 2026.
If the Nelnet data breach settlement gets final approval without any appeal, it is certain that the payment will be received within 90 days; and in case of appeals, the payout won’t begin until all the appeals are resolved by the court.
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