Nelnet Bank Launches K-12 High-Yield Savings Accounts: Empowering Schools with Financial Growth

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Feb 06, 2024, 16:15 ET

DRAPER, Utah, Feb. 6, 2024 /PRNewswire/ -- In a commitment to bolster financial strength and empower educational institutions, Nelnet Bank (Member FDIC) announces the launch of its innovative K–12 High-Yield Savings Accounts. Crafted in partnership with FACTS to meet the needs of K–12 schools, these accounts offer competitive high-interest rates with customized tiers that enhance financial vitality and help schools start earning for future educational endeavors.

"At Nelnet Bank, we understand the importance of financial stability in education," stated Julie Buchholz, chief operations officer at Nelnet Bank. "We're thrilled to launch our K–12 High-Yield Savings Accounts. This product demonstrates our dedication to providing schools with a trusted financial partner and a pathway to sustainable growth."

Nelnet Bank's K–12 High-Yield Savings Accounts offer competitive rates with five customized tiers that keep customers' money growing strong with daily compounding interest. The product was developed to meet the unique needs of K–12 schools in partnership with FACTS, a Nelnet company, that serves over 11,500 schools with a comprehensive suite of educational services.

"We are excited to announce our partnership with Nelnet Bank to introduce the K–12 High-Yield Savings Account," said Scott Spethman, president of FACTS. "This product is specifically designed to meet the financial needs of schools, allowing them to focus on their educational goals and thrive financially. As a company committed to supporting schools and their unique challenges, this collaboration is a natural extension of our efforts."

With Nelnet Bank, schools can say goodbye to monthly maintenance fees and struggling to access funds. These high-yield savings accounts are designed to prioritize a school's savings without burdening them with additional costs. Schools can also prepare for unforeseen circumstances with ease. Nelnet Bank's K–12 High-Yield Savings Accounts offer quick access to funds, ensuring that financial resources remain agile and responsive to the evolving needs of educational institutions.

For more information about Nelnet Bank's K-12 High-Yield Savings Accounts, visit https://www.nelnetbank.com/k-12-hysa.

About Nelnet

Nelnet Bank (Member FDIC and Equal Housing Lender) was founded to help families achieve their dreams with financial knowledge and access to education. Backed by Nelnet Inc., Nelnet Bank started by delivering funding options to students and families – but has graduated to do much more. Today, Nelnet Bank's list of products includes Private Student Loans, Student Loan Refinance, Home Improvement Loans, Business CDs, and High-Yield Savings Accounts – and they're just getting started. Wherever your journey takes you, Nelnet Bank is by your side.

About FACTS

FACTS is committed to making educational dreams possible through service and technology. They serve more than three million students and families at over 11,500 schools. FACTS offers a comprehensive suite of services including tuition management, a student information system, payment administration and processing, financial needs assessment, admissions/enrollment solutions, and a fundraising and development platform. FACTS' services include professional learning and development, instructional services, title funding consultation, and a coaching program that uses video technology to help teachers develop their skills. For more information, visit FACTSmgt.com.

SOURCE Nelnet, Inc.