Firstmark Services Student Loans: Guide on Forgiveness and Repayment Options | 2023

Student Loans Are Complicated.

See if you are eligible for Student Loan Forgiveness

Table of Contents

Navigating the world of student loans can be a daunting task, especially when dealing with private student loans. One such private student loan servicer that borrowers may encounter is Firstmark Services. 

As a division of Nelnet, Firstmark Services handles private student loans issued by financial institutions and banks such as Wells Fargo and Citizens Bank. 

This article will provide you with a comprehensive understanding of Firstmark student loans and offer guidance to those dealing with Firstmark-held debt.

Understanding Firstmark Services Private Student Loans

Firstmark Services is not a lender but a servicer for private student loans. 

This means that Firstmark Services handles the administrative tasks associated with maintaining a loan on behalf of a lender. These tasks include billing, processing payments, answering borrower inquiries, and managing other administrative duties.

It’s important to note that Firstmark services private student loans, not federal student loans. 

This distinction has significant implications for borrowers:

  • Nature of Loans: Loans serviced by Firstmark Services are private student loans, which means they are not backed by the government and have no affiliation with the Department of Education.
  • Limited Forgiveness Options: Unlike federal student loans, Firstmark student loans do not qualify for student loan forgiveness programs like President Biden’s debt cancellation plan, Public Service Loan Forgiveness, or Income-Driven Repayment Plan Forgiveness.
  • Limited Repayment Assistance: Firstmark offers some repayment assistance, such as deferment, forbearance, or temporary interest rate reduction. However, these options rarely provide the level of relief that people need when they can’t afford their monthly payments, and interest continues to grow.

Does Firstmark Consolidate Loans?

As a student loan servicer, Firstmark Services does not offer loan consolidation or refinancing services. However, 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.

Here’s what you need to know about loan consolidation and refinancing:

  • Consolidation: This process combines multiple loans into one loan with a single monthly payment. This can simplify loan repayment and potentially lower your monthly payment by extending the repayment term.
  • Refinancing: This involves taking out a new loan with better terms (usually a lower interest rate) to pay off your existing loans. Refinancing can save you money over the life of your loan and potentially lower your monthly payment.

However, it’s important to remember that refinancing or consolidating your loans won’t change the nature of your Firstmark loans. 

Private student loans can never become federal student loans, and thus, they will not become eligible for federal loan benefits such as income-driven repayment plans or loan forgiveness.

Alternatives to Firstmark Loan Forgiveness

While Firstmark student loans do not qualify for federal loan forgiveness programs, there are still several strategies you can employ if you’re struggling to make your student loan payments. 

Here are some alternatives to consider:

Deferment or Forbearance

Firstmark may allow you to temporarily pause your loan payments through deferment or forbearance. This can provide short-term relief if you’re facing financial hardship. However, it’s important to note that interest may continue to accrue during this period, which can increase the total amount you owe.

Temporary Interest Rate Reduction

In some cases, Firstmark may offer a temporary reduction in your loan’s interest rate. This can lower your monthly payments for a set period, making your loan more manageable in the short term.


Refinancing your student loans can potentially lower your interest rate, reduce your monthly payment, or both. This involves taking out a new loan with a private lender to pay off your existing Firstmark loan. To qualify for the best rates, you’ll typically need a strong credit score and a stable income.

Negotiating a Settlement

If you’re unable to make your loan payments, you may be able to negotiate a settlement with Firstmark. This would involve making a lump sum payment for less than the total amount you owe. Keep in mind that this can have significant impacts on your credit score and may have tax implications.

Filing for Bankruptcy

While it’s often difficult to discharge student loan debt in bankruptcy, it’s not impossible. If repaying your Firstmark loan would cause undue hardship, you may be able to have it discharged in bankruptcy. This is a complex process that typically requires the assistance of a lawyer.

Remember, while these options can provide relief, they are not solutions to the underlying issue of unaffordable student loan debt. If you’re struggling with your Firstmark student loans, it’s important to seek professional advice to understand all of your options and make an informed decision.

Firstmark Contact Information

Firstmark Services provides several ways for borrowers to manage their loans and get in touch with them. They offer an online account where you can easily access the details of your loan amount and payment due date. 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:

  • 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.
  • By Mail (Payments): Firstmark Services, P.O. Box 2977, Omaha, NE 68103-2977. This is the address to send your payments.
  • By Mail (General Correspondence): Firstmark Services, P.O. Box 82522, Lincoln, NE 68501-2522. This is the address for any general correspondence or inquiries.
  • By Phone: 888-538-7378. You can call this number Monday through Friday, from 7 a.m. to 8 p.m. CST.
  • By Fax: 866-258-2922. If you need to send any documents or forms, you can use this fax number.
  • By You can send any questions or concerns to this email address.

Remember, it’s essential to keep all communication with Firstmark or any debt collectors in writing. This way, you have a record of all interactions, which can be useful if there are any disputes or misunderstandings in the future.


Navigating Firstmark student loans can be complex due to their private nature and limited forgiveness options. While Firstmark offers some temporary relief options, long-term solutions may require refinancing, negotiating a settlement, or even considering bankruptcy. 

It’s crucial to keep all communication with Firstmark in writing for record-keeping purposes. 

If you’re overwhelmed, seeking professional help, such as a student loan advisor/lawyer or a debt counselor, can provide valuable guidance. 

Remember, staying informed and exploring all your options is key to effectively managing your student loan debt.


Join our newsletter.

Read other articles.

See Your Student Loan Forgiveness Eligibility

Join the over 50 Thousand people who have received help from!

Contact Information
Do You Owe Over $10,000 in Federal Student Loans?
What is The Current Loan Status of Your Loans?
Do you have Unsecured Debts Over $10,000?
Did You Attended a For-Profit College?
Are you Currently Enrolled in College or Going Through Active Bankruptcy?
Are You Employed Full-Time?