LINCOLN–(KFOR Mar. 24)–Jobs are being eliminated from the diversified services division of Lincoln-based student loan company Nelnet.

In a news release, Nelnet says it received a contract modification from the Department of Education Wednesday, which significantly decreased the price earned by the company per borrower per month. The company also says it was notified last month that the Department of Education would transfer one million borrowers from Nelnet to another federal service.

That will result in the loss of 550 jobs.

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