Nelnet Student Loan Trust 2021-C: Rating Report

DBRS, Inc. (DBRS Morningstar) finalized its provisional ratings on the Nelnet Student Loan Trust 2021-C (Nelnet 2021-C) notes (the rated Notes). The DBRS Morningstar ratings for the rated Notes address the timely payment of interest and the full payment of principal in accordance with the terms of the Nelnet 2021-C transaction documents. The collateral backing the transaction consists primarily of private student loans originated by Wells Fargo Bank, N.A. (Wells Fargo) and its affiliates from 1993 to 2021. A portion of the collateral consists of private student loans purchased by Wells Fargo from various third parties and from loans assumed as a result of Wells Fargo's acquisition of Wachovia in 2008.