US Justice Dept eyes federal Nelnet audit-lawmaker

WASHINGTON May 10 (Reuters) - The U.S. Department of Justice is looking into a federal audit of student loan group Nelnet Inc. (NNI.N) related to a January settlement between the company and the government over disputed loan program payments, said a senior U.S. lawmaker on Thursday.

"My understanding is that the Department of Justice is now looking at that audit," said House of Representatives Education and Labor Committee Chairman George Miller at a hearing where Education Secretary Margaret Spellings testified.

Nelnet said on Jan. 19 it agreed to a settlement with the U.S. Education Department over an audit by the department's inspector general of a Nelnet portfolio of loans that were getting special allowance payments under a 1980s loan program that guaranteed lenders a 9.5 percent interest rate.

Under the settlement, Nelnet was allowed to keep $278 million worth of the payments that it had received before July 1, 2006, while foregoing additional subsequent claims.