Nebraska Student Loan Program Inc.

“There are no committees with governing authority to act on behalf of the board of directors.”

“The foundation for educational services, inc. (fes), a not-for-profit corporation, serves as the sole member of nebraska student loan program, inc. (nslp) and elects nslp's board of directors.”

“The foundation for educational services, inc. (fes), a not-for-profit corporation, serves as the sole member of nebraska student loan program, inc. (nslp) and elects nslp's board of directors.”

“The 990 is prepared by an external auditor, reviewed by staff, and mailed to all board members. The 990 is presented to the audit committee and the board before it is filed.”

“Nslp maintains a conflict of interest policy for all directors and officers. A conflict of interest exists if a member has financial or ownership interest in the organization. The policy exists to identify potential instances in which an individual could personally benefit to the detriment of the organization. The policy requires all members to disclose an annual disclosure form. If a potential conflict of interest is determined to exist, such interested person must prepare a written statement describing the nature of the transaction and conflict of interest. Discussions with independent, outside legal counsel, as well as the chairman and president of nslp determine whether a conflict of interest exists. In the event of a positive finding by independent legal counsel and after review by the board, legal counsel will advise the interested person how to remove themselves from influence over the decisions on the matter, as well as advise on any other restrictions that will be imposed upon the interested individual. Results of the proceedings are documented in the organization's meeting minutes.”

“Outside legal counsel undertakes a comprehensive evaluation of the compensation and benefit packages for officers and other affected employees of the organization, comparing the same relevant industry and other market comparables. Counsel then provides to the board of directors a summary of the comparability data, an analysis of the data relative to the organizational employees, and a reasoned opinion concerning this conclusion. The board of directors then confirms and ratifies all compensation/benefits packages, with the decision process properly documented as required by the regulations. On a routine basis, nslp engages an independent compensation specialist to provide data for key positions. The process described here was last completed in 2023.”

“Public availability of documents, policies, and financial statements: nslp does not make their governing documents, conflict of interest policy, or financial statements available to the public.”

“The audit oversight process has not changed from prior year.”