Great Lakes Loans, What You Need To Know in 2021

Great lakes loans, What You Need To Know.

Great Lakes Loans, What You Need To Know.

What Are Great Lakes Loans?

Great Lakes Higher Education Corporation was one of the largest student loan providers and guarantors in the United States.

Headquartered in Madison, Wisconsin, the corporation is non-profit. It was one of the four largest companies which service United States federal student loans.

Great Lakes, Nelnet, Navient, and the Pennsylvania Higher Education Assistance Agency. In 2018, the loan servicing part of the organization was sold to Nelnet.

The company sometimes gives education-related grants, with a focus on increasing access to higher education

Great Lakes Loans Educational Statistics

  • Great Lakes Educational Loan Services, Inc. guaranteed over $51 billion in loans

  • Works with 6,000 schools

  • Ulises over 1,100 lenders

  • Has over 10,000,000 borrowers

  • The loan servicing operation is now a fully owned subsidiary of Nelnet, the combined company now servicing 42% of the total federal student loan debt

What Services Does Great Lakes Loans Offer?

Great lakes loans interest rate

Example of interest rate and loan.

Multiply each loan amount by its interest rate to obtain the "per loan weight factor."

Loan 1: $10,000 x 6.8% = 680

Loan 2: $2,000 x 3.8% = 76

Add the per loan weight factors together.

680 + 76 = 756

Add the loan amounts together.

$10,000 + $2,000 = $12,000

Divide the "total per loan weight factor" by the "total loan amount," and then multiply by 100 to calculate the weighted average.

(756 / 12,000) x 100

or 0.063 x 100 = 6.3%

Round Step 4's result to the nearest higher one-eighth of one percent* if it's not already on an eighth of a percent.

Round 6.3 up to 6.375

Great lakes loans interest rate

Contact Great Lakes Loans

Contact Information For Student Loan Customers

  • Phone number: (800) 236-4300

  • Local/International: (608) 246-1700

  • Staff are available during these hours

  • Monday-Friday 7:00 a.m. to 9:00 p.m. Central Time

Mail address: General Correspondence

Great Lakes

PO Box 7860

Madison, WI 53707-7860

Fax Number

Toll-Free: (800) 375-5288

Local/International: (608) 246-1608

Contact Information for Financial Aid Professionals

Client Services

(888) 686-6919

Direct Loan Consolidation Origination

(866) 348-0714

Fraud and Identity Theft

(888) 258-1773

Great lakes loans login

You can log into Great Lakes Loans Here.

My Account

Log in to your account here

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Information on login issues and more

Edit Your Profile

Change your profile details here

Great lakes loans customer service

Contact them here.

Sign up to Great Lakes Loans

Is does not take long to sign up today/. You will need your social security number and date of birth to start the joining process.

Great Lakes Loans Social Media Platforms

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Great Lakes Loans Twitter

What Are Great Lakes Loans?

Great Lakes Loans Questions And Answers

Is Great Lakes a private or federal loan?

Neither private nor federal

Great Lakes is neither a private nor a federal loan. The company actually services both private and federal loans.

Can Great Lakes student loans be forgiven?

It may read on

Once you've met all the requirements, your student loans may become eligible for forgiveness.

Who is the credit provider for Great Lakes student loans?

Great lakes loans are one of the biggest in the country.

FFELP loans were funded by private lenders, such as banks or credit unions, and are guaranteed by the federal government.

Is my Great Lakes a federal student loan?

Read here to understand in detail.

Can my student loans be forgiven after 10 years?


After serving for 10 years and making 120 payments, which don't have to be consecutive, you can apply for student loan forgiveness.

Is Great Lakes a good loan servicer?


Great Lakes Loans Services received a score of 3.8 out of 5 for great service.

Who owns Great Lakes?


Is Great Lakes legitimate?


Great Lakes Loans is one of the largest in the USA,

Can I make payments online to Great lakes loans?


Great lakes loans take online payments.

Can I pay Great Lakes Loans through my bank?


You can add or amend your bank account here.

Are there different repayment options for Great Lakes Loans?


You can amend details here.

Can I upload documents to Great Lakes Loans?


You can access files here.

Can I lower mt payments to Great Lakes Loans?


For further information visit here.

Great Lakes Loans Questions And Answers

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