Great Lakes Loans Servicing Reviews 2020
You get email or mail from an organization called Great Lakes.
It’s about understudy credits.
Be that as it may, you’ve never known about Great Lakes, not to mention acquired any cash from them.
While Great Lakes probably won’t appear to be a possible name for an understudy credit organization, that is actually what it is.
Its complete name is Great Lakes Educational Loan Services, Inc., and it is an authority servicer for government understudy advances.
On the off chance that you’ve been reached by Great Lakes about understudy credits,
you may be uncertain what that implies or what to do straightaway. This is what you have to know.
What Is Great Lakes?
Great Lakes is situated in Madison, Wisconsin, (some portion of the Great Lakes area) however it offers understudy credit overhauling across the country.
It is one of nine privately owned businesses that agreements with the U.S. Division of Education to deal with the charging of government understudy credits.
Great Lakes adjusted $251.2 billion in government understudy credits with in excess of 8 million borrowers as of March 31, 2019.
Nelnet, a credit servicer that purchased Great Lakes in 2018, had another $192.6 billion.For the 2018-2019 school year,
Great Lakes was designated 17% of new understudy advance volume—the second-biggest portion.
How You Get Assigned a Student Loan Servicer
You may be considering how your government understudy advances have wound up with an organization you’re new to.
After the Education Department worked with your school to process your understudy advance solicitation, affirmed it, and paid out the assets, your record was given off.
The Education Department alloted your record to one of its understudy advance servicers, for this situation, Great Lakes.
Servicers must reach you once they’re appointed to deal with your credit,
commonly after the principal installment of your understudy advance dispensing
Be careful with Scams
Great Lakes is one of the most normally allocated understudy advance servicers.
In the event that there’s any inquiry concerning whether the correspondence you’ve gotten is genuine, you can without much of a stretch check.
Visit StudentAid.gov and sign into your Federal Student Aid record to see your government understudy credit data, including your servicers for each advance.
You ought to likewise be watchful for understudy credit tricks.
A few con artists may contact borrowers to make bogus cases about understudy credit absolution or their advance status, as indicated by the Department of Education.
Numerous obligation alleviation organizations additionally guarantee understudy advance help,
just to charge borrowers for things that are generally free, such as applying for postponement or bringing down payments.
Become familiar with the indications of a trick to ensure yourself, and reach your servicer through methods you know are secure.
Working With Great Lakes
As your understudy credit servicer, Great Lakes goes about as your place of contact for all issues, from first charging to your last installment.
At first, since you don’t need to reimburse your understudy advances while you’re in school,
you may simply have questions or need to check your parity.
When your reimbursement period kicks in, Great Lakes can give:
- Help in the event that you are experiencing issues reimbursing.
- Choices to change your reimbursement plan, including to a salary driven reimbursement plan.
- Applications for understudy credit delay or restraint—two different ways to suspend or decrease your installments briefly.
- Exhortation on whether government understudy advance union is directly for you, and how to finish the procedure in the event that it is.
In the event that you get an email or mail from Great Lakes, focus. It might contain touchy or auspicious data, for example, notice of missed installments or even misconduct.
Instructions to Contact Great Lakes
Regardless of whether you’re taking care of your understudy credit early or experiencing difficulty making regularly scheduled installments, here’s the manner by which to contact the organization:
- Sign into your online Great Lakes account to for all intents and purposes see and deal with your understudy credits
- and Call (800) 236-4300 Monday through Friday from 7 a.m. to 9 p.m. Focal Time
- Round out a structure on Great Lakes’ contact page to demand contact by means of email
- Send faxes to (800) 375-5288
- Send letters to Great Lakes, P.O. Box 7860, Madison, WI 53707-7860