Nelnet, the US conglomerate that deals in the administration and repayment of student loans and education financial services, has reported second-quarter 2020 net income of $86.6 million, up from $24.7 million reported for the second quarter of 2019.

The company also published figures for the first six months of 2020. Net income for the period was $46.8 million, down from $66.3 million reported for the first six months of 2019.

Nelnet chief executive Jeff Noordhoek said: “Nelnet reported strong second quarter results from its loan portfolio and core operating businesses during unprecedented times. Through the challenges and uncertainty, I have been impressed by the resiliency and commitment of our associates to serve our customers at exceptionally high levels. Our results are also a testament to the value of our products and services and our ability to innovate quickly to meet the critical needs of our customers through the difficulties of the pandemic and resulting recession.”
 

Date published: 14 August 2020

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