Firstmark Student Loans: Forgiveness & Repayment Options

#1 Student loan lawyer

Updated on March 2, 2024

Firstmark Services is a division of Nelnet that serves as a student loan servicer for private student loans issued by financial institutions and banks such as Wells Fargo and Citizens Bank.

Unlike federal student loans, Firstmark student loans don’t qualify for student loan forgiveness programs like President Biden’s debt cancellation plan, Public Service Loan Forgiveness, or Income-Driven Repayment Plan Forgiveness. This limits the options available to student loan borrowers struggling to repay their debt.

Firstmark offers some repayment assistance, such as deferment, forbearance, or temporary interest rate reduction. But these options rarely provide the level of relief that people need when they can’t afford their monthly payments, interest continues to grow, and they feel like they’ll never get rid of their student loan debt.

Related: Student Loan Forgiveness: Who Qualifies

Firstmark services private student loans

Firstmark services private student loans — not federal student loans. This means that loans with Firstmark are not backed by the government, have no affiliation with the Department of Education, and lack the same flexible student loan repayment options and forgiveness opportunities available to federal loans.

Private student loans are a separate beast with different rules, terms, and conditions. Attempts at student loan refinancing or consolidation won’t change this. There’s no way to move Firstmark loans to the federal government.

No matter what you try, private student loans can never become federal student loans.

Does Firstmark consolidate loans?

Firstmark is a student loan servicer, not a lender. It does not offer loan consolidation or refinancing services. But borrowers with student loans serviced by Firstmark may be able to consolidate or refinance those loans with other financial institutions such as banks, credit unions, or online lenders.

This option may help reduce monthly payments by extending the repayment term and lowering the interest rates for those with a blemish-free credit report and good income.

Related: Can Refinanced Student Loans Be Forgiven?

Alternatives to loan forgiveness

If you’re struggling to make your student loan payments, Firstmark may let you put your account in deferment or forbearance or lower your interest rate. Those options are temporary and limited. Eventually, they’ll run out, and you’ll be stuck with a payment you can’t afford.

Refinancing into a new loan can help, but you’ll need a good credit score and enough income to cover your credit card bills, personal loans, and other debts to get a lower interest rate. Use an online marketplace like Credible to simultaneously compare rates with many student loan refinance lenders.

If you can’t refinance, your next best options may be to negotiate a settlement or file student loan bankruptcy. Both choices will tank your credit score — and possibly your cosigner’s score as well. But the hit, often short-lived, is worth it if you can reduce your loan balance significantly.

Related: How to Get Private Student Loan Help

I’ve helped dozens of people use both processes to find a way out of what they thought was an impossible situation. Book a call with me to talk about your loans.

Firstmark contact information

Firstmark makes managing your loans a breeze by providing an online account. By simply logging on to with your name, date of birth, Social Security number, and email address, you’ll have easy access to the details of your loan amount and payment due date. And if you meet the auto-debit eligibility requirements, you can even enroll in automatic payments, making loan management a hassle-free experience.

Here’s how to contact Firstmark:

  • By mail (payments): Firstmark Services, P.O. Box 2977, Omaha, NE 68103-2977.

  • By mail (general correspondence): Firstmark Services, P.O. Box 82522, Lincoln, NE 68501-2522.

  • By phone: 888-538-7378, Monday through Friday, from 7 a.m. to 8 p.m. CST.

  • By fax: 866-258-2922.

  • By email:

Bottom Line

Firstmark student loans won’t be forgiven. Private lenders rarely offer student loan forgiveness options. But that doesn’t mean there’s nothing you can do.

If you can’t afford your payments and refinancing isn’t an option, book a call with me. Together, we’ll come up with a plan to help you navigate the repayment process and find a way out of the dark tunnel of student loan debt.

UP NEXT: How to Apply for Student Loan Forgiveness

Share On Social

Stop Stressing