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Great Lakes Higher Education Corp.

Great Lakes Higher Education Corp.
Overall Satisfaction Rating 1.26/5
  • 5 stars
    5
  • 4 stars
    4
  • 3 stars
    3
  • 2 stars
    16
  • 1 stars
    179
Based on 207 ratings
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Great Lakes Higher Education Corporation and Affiliates is a non-profit corporation with more than 1,300 employees, all committed to changing lives for the better through higher education. We’re one of the country’s leading guarantors and servicers of student loans, serving millions of borrowers, the U.S. Department of Education, more than 6,000 schools, and 1,100 lenders nationwide. We provide support to make higher education accessible, the financial aid process simpler, and the possibility of paying for college real. We know student loans, inside and out.

Great Lakes Higher Education Corp.

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    Great Lakes Higher Education Corp. Reviews

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    Page 1 Reviews 1 - 10
    Rated with 1 star
    Verified Reviewer
    Original review: Jan. 9, 2020

    Paid my loan off after 4 years of payments. Took every last penny in my account. Thought I was done with these scumbags. Then the following month Great Lakes withdrew my monthly autopay amount out of my account. I called and the extremely condescending representative informed me that, despite paying off the loan I still needed to turn off autopay. Ridiculous! What other loan servicer requires that? To make it more absurd, you can’t turn off autopay online once you are done making payments.

    Great Lakes informed me that they couldn’t refund my payment for 45 DAYS! It took every spare penny to finally reach my goal of being debt free, how can I pay my rent this month? I bet that the majority of people use autopay and many of them don’t realize they need to cancel after paying off the loan. If Great Lakes is holding on to an extra payment for all those people for 45 days they are earning some serious interest. It’s criminal and sad. I guess they have the federal government feeding them customers so what do they care if young people trying to repay student loans get screwed?

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    6 people found this review helpful
    Rated with 1 star
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    Verified Reviewer
    Original review: Dec. 28, 2019

    Hi all, I figured this is one of the best way to get back at such a shady and dis-trustworthy company the best I can. I would strongly recommend steering clear of this circus show known as Great Lakes student loans. Here are some of the pleasures I had to deal with this on this company. My father had co-signed for me because at the time of getting this loan I did not have the credit to qualify on my own for the student loan. After graduating College I started doing my best to pay my loans as fast as possible. Trying to be responsible and all and pay back the money I owed. Well this company made that as hard as they possibly could. With most loans you can start paying on the principal first so that way you don't get buried with interest on said loan, with these guys that's a no no. They want as much money as they can possibly get from you.

    Ok I thought, I'll pay this interest off as soon as i can then so all my payments start cutting into the principal of the loan. Hold on, I can't do that either, apparently because my dad's name is also on the loan with my name too. He is the only one who can authorize an advanced payment. What kind of BS is this? Ok, so then my dad and I called the company to try and set up the loan that I now make payments on so I can authorize advanced payments on my loan. Their "customers representatives" said that also isn't possible.

    The final straw is when they decided to randomly bill me for $2,000 and overdrafted my checking account. I called the company once again, their helpful customer representative came to the rescue again by telling me, since the payment had been made (mind you the day the payment was made was also the same day I called about canceling this payment) They would not be able to refund my money for at least 2 months. In order to cancel this payment I had to work with my bank and have this called a fraudulent charge. The only way I got away from this predatory student loan company was refinancing my loan with a different company. Future students beware, avoid Great Lakes like the plague they do their best to get as much money from you as they possibly can. Stay away.

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    6 people found this review helpful

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      Rated with 1 star
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      Verified Reviewer
      Original review: Nov. 14, 2019

      I am irate. This "servicer" continually refuses to apply my extra payments as specified and thus fails to apply payments to principal as I specify. I feel like their actions must be illegal. I am sick of being financially robbed by this company as well as all the other corrupt student loan servicers that have had my loans. I have paid off the majority of the loan I borrowed years ago. I still owe about 120% more!!!! Anyone know a good lawyer? I want to sue the crap out of them. I am done. Class action lawsuit anyone? Let's do this.

      7 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Oct. 17, 2019

      It would be easier, and more convenient to cut off my right arm (I am right-handed) than it is to deal with Great Lakes. I have had only one person that actually assisted. There is no communication between GL and customer. No one knows what is going on, unless you get past the "Borrower Services" branch. Run the other direction, uphill both ways, in a below freezing blizzard until your feet fall off at the ankles. The only reason they got one star is because THEY don't have a ZERO!!!!

      4 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Oct. 11, 2019

      I have auto-payment set up and through my work have been able to make an additional payment every month thinking it would help pay down my loan faster. I thought wrong! My extra payment doesn't go to ANY principal, it ALL goes to interest. When I called to see why they were not putting it towards principal they gave me some gibberish about the day of month I pay it (which I have no control over). So even though I am trying to not only make my payments on-time, every month, I am making extra payments that are just going into Great Lakes' pockets and not helping my student loan balance AT ALL. To me this should be illegal. If I would have known this I would have NEVER taken out student loans with them. Totally crooked. They don't want you to pay down your students loans. They just want to screw you so they can get more money out of you.

      6 people found this review helpful
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      Rated with 1 star
      Verified Reviewer
      Original review: Sept. 21, 2019

      I have sent them my tax return TWICE, and I have the screenshots saying the submission was successful to PROVE it. Yet they don't have it. How do you lose DIGITAL paperwork?? I have followed their instructions EXACTLY since the very first day I was able to and I have called them numerous times to make sure that I was doing everything correctly, and thanks to THEIR incompetence I'm going to have to use some of my forbearance months as punishment to give me extra time to get them the paperwork they supposedly "don't have".

      6 people found this review helpful
      Rated with 1 star
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      Verified Reviewer
      Original review: May 31, 2019

      Do not borrow from these people at all. I’ve asked for help time after time. They are lazy and make a lot of errors. They tell you right off the bat you make too much money to get a revised payment schedule. You are left scratching your head and wondering how you will put gas in your car. This is just too much to bear when life hits you with a traumatic event.

      8 people found this review helpful
      Rated with 4 stars
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      Verified Reviewer
      Original review: May 27, 2019

      No company is perfect including Great Lakes, however I have found Great Lakes to be better run and set up to support students in repayment versus other companies out there. While processing my consolidation loan, I had called many times over with questions and concerns, and every time I was met with kindness and understanding. I always hung up feeling heard, receiving the information I needed.

      I have also found their Facebook social relations folks to be amazingly helpful and often can get things done more quickly for you. For example, I made a six figure payment so I could bring down my loan amount to a more manageable size, and I was concerned after two days the payment hadn't cleared. I emailed the Facebook folks from Great Lakes and within ten minutes I had a response and an answer (can take an extra day to process if payments are made on weekends). Overall, I would say they are the best of the student loan repayment servicers out there, and are always ready to help when you need them. And yes, there can be a few bad apples in any business but I've only talked to one person with Great Lakes who I felt needed better customer service training.

      I think realistically we as students need to be made aware of who is servicing our loans while we are still in college, making sure we set up online accounts so we can track our loan balances and interest accrued. By being aware of this and due dates before graduation we won't be blindsided later on. Personally I had all my servicers known, accounts set up, and due dates written down by the time I left college. I didn't want to wait for email reminding me to do this on the off chance there is an error and an email isn't sent. It is my loan and I should be responsible for it.

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      4 people found this review helpful
      Rated with 3 stars
      Verified Reviewer
      Original review: May 21, 2019

      I had my loan reset for repayment based on my income. Never received any documentation in the mail. Very disappointed in their follow up. I missed my first payment & need to work with them again to fix.

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      Rated with 5 stars
      Verified Reviewer
      Original review: May 11, 2019

      Great Lakes has been great! Consolidated all my loans into one monthly payment. Low interest rate. Great customer service. Receive a monthly email reminding me to make my payment so I have no problems staying current.

      Be the first one to find this review helpful
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      Great Lakes Higher Education Corp. Company Information

      Company Name:
      Great Lakes
      Company Type:
      Private
      Year Founded:
      1967
      Phone:
      (800) 236-4300
      Website:
      www.mygreatlakes.org

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