
Great Lakes Educational Loan Services Reviews
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About Great Lakes Educational Loan Services
Great Lakes Educational Loan Services, Inc. is an affiliate of Nelnet Diversified Solutions, LLC. It services federal student loans and works with financial aid professionals and other business partners. As a loan servicer, it doesn’t actually provide the funds for your student loan, but it works as your primary contact for paying back your loans and answering questions you may have.
- Flexible repayment plans
- Loan consolidation help available
- Mobile app
- No credit card payments
- Account required to see some info
Helpful Reviews
What is Great Lakes Educational Loan Services?
Formerly known as Great Lakes Higher Education Corporation, Great Lakes is a federal student loan servicer based in Madison, Wisconsin. This means that it doesn’t provide funding for loans, but it provides users the resources they need to manage their loan, including:
- Help with repayment
- Updates on loan status
- Help monitoring school enrollment
- Assistance navigating repayment options and consolidation
How do Great Lakes student loans work?
Federal student loan borrowers are assigned a loan servicer (like Great Lakes) that oversees their account and payments. As a servicer, Great Lakes is responsible for managing billing and payments on these loans. Great Lakes can also help borrowers who are having difficulties repaying their loans. This may include changing repayment plans, exploring loan deferment or forbearance or applying for loan consolidation.
Great Lakes loan requirements
Because it’s just a loan servicer, not a lender, Great Lakes doesn’t set the requirements you need to get a loan. However, it does manage the repayment process for the loans it services.
If you fall behind on payments, your loan will be considered delinquent. Your loan is delinquent from the day after a payment is missed until you catch up on payments or it enters default status. While delinquent, late fees may appear on your account and missed payments are reported to the four main credit bureaus.
After 270 days of nonpayment, your loan is in default. Once in default, the full balance is due immediately, and further financial and legal consequences may apply. Luckily, forgiveness programs may be able to help those who are eligible.
Great Lakes costs
The cost of repaying a student loan through Great Lakes largely depends on the terms of your loan. Interest rates are set by the lender, not Great Lakes, depending on the type of loan you receive and the economy at the time.
Figuring out your individual cost ahead of time can be confusing because it may involve coordinating information between the government and Great Lakes. However, as a loan servicer, Great Lakes works to help borrowers track their loans (even before repayment begins) and choose payment plans that match their lives after graduation.
Great Lakes Educational Loan Services FAQ
Is Great Lakes private or federal?
Great Lakes is a privately held company that services both federal student loans and private loans given through the Federal Family Education Loan Program (FFELP) prior to 2010.
Is Great Lakes part of Navient?
No, Great Lakes is separate from Navient, although both are federal student loan servicers.
Can Great Lakes student loans be forgiven?
Yes, student loans serviced by Great Lakes can be forgiven by the federal government if you qualify.
Can Great Lakes garnish my wages?
Yes, Great Lakes can garnish your wages if your loan is in default.
Still have questions?
Is Great Lakes legitimate?
Yes, Great Lakes Educational Loan Services is one of the companies the U.S. Department of Education lets service federal student loans. Great Lakes gives borrowers a variety of plan options for paying off their student loans, and former students can pay through the mail, over the phone or via its website or mobile app. Great Lakes’ online tools can help you choose the right repayment option for your individual needs, too. Just be sure to familiarize yourself with the company’s policies and features to help your repayment go smoothly.
Great Lakes Educational Loan Services Reviews
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- 4,889,230 reviews on ConsumerAffairs are verified.
- We require contact information to ensure our reviewers are real.
- We use intelligent software that helps us maintain the integrity of reviews.
- Our moderators read all reviews to verify quality and helpfulness.
Great Lakes Educational Loan Services Company Information
- Company Name:
- Great Lakes
- Company Type:
- Private
- Year Founded:
- 1967
- Website:
- www.mygreatlakes.org




