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Great Lakes Higher Education Corp.

Great Lakes Higher Education Corp.
Overall Satisfaction Rating 1.27/5
  • 5 stars
    5
  • 4 stars
    5
  • 3 stars
    3
  • 2 stars
    16
  • 1 stars
    183
Based on 212 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.

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    Great Lakes Higher Education Corp. Reviews

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    Page 1 Reviews 0 - 10
    Rated with 1 star
    Verified Reviewer
    Original review: Sept. 10, 2020

    Great Lakes "higher education" is as fraudulent in their practices as a $3 bill. When their people walked me through an IDR application to defer payments, and everything was to (supposedly) their satisfaction, they denied my application demanding additional information that's completely irrelevant to the application. Then they proceeded to report me to the credit bureaus, destroying my credit. And without credit, my life is destroyed. So now, what have they accomplished? No Credit and no payment. Congratulations, scumbags.

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    Rated with 1 star
    Verified Reviewer
    Original review: May 15, 2020

    Typical predatory loan servicer using the system to line their pockets. Borrowed from them for graduate school and have the privilege of paying them 1.5-2x what I borrowed. Want to pay a lot more than you borrowed? Choose Great Lakes and they will be sure to take advantage of your financial needs while attending higher education.

    2 people found this review helpful

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      Rated with 4 stars
      Verified Reviewer
      Original review: May 12, 2020

      My Great Lakes incorrectly coded the CARES act student loan forbearance to credit reporting agencies, therefore resulting in a greater than 10 point reduction in my credit score despite my account being in good standing. I contacted the company about this through their online portal and received a response in less than 24 hours. Their response communicated the error and clearly explained each action that will be taken to address, correct and reverse the issue. I am very pleased with the prompt customer service and communication on this matter.

      2 people found this review helpful
      Rated with 1 star
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      Verified Reviewer
      Original review: April 5, 2020

      My experience with Great Lakes mirrors Mary from Brooklyn and I would be interested in joining a class action lawsuit against these gangsters. Great Lakes should immediately be removed from the US Department of Education list as an approved loan servicer. They hold themselves out as a 501(c)3 non-profit but clearly they do operate for a profit. They are without any guiding compass of ethical business practice.

      12 people found this review helpful
      Rated with 1 star
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      Verified Reviewer
      Original review: March 12, 2020

      This "MyGreatLakes" is the absolute worst. Unprofessional, Lost Minded, and truly does not know what they are doing whatsoever. They never go through with payments you make on your accrued interest, but will take your money and try to give you some lame excuse as to why this & that happen. Been dealing with these idiots for years over a loan that I clearly told them isn't mine. You reach out and contact them as to why this is happening, and they don't get back to you for weeks. Then they go ahead and take action without your knowledge by either placing you in deferment or forbearance. How can you not see a payment that's been made on your bull crap website? I feel sorry for anyone that has to deal with these scumbags. And the school I was at closed down and they refuse to shut down this loan I have no knowledge of while I was enrolled.

      4 people found this review helpful
      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?

      13 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.

      11 people found this review helpful
      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.

      17 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!!!!

      7 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.

      12 people found 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