Great Lakes Student Loans is simply one among the scholar loan providers that assist students in need of educational funding. This particular student assistance program is funded and supervised by the good Lakes education and Affiliates. This organization focuses on finding large firms and corporations that are capable and are willing to support students especially on their financial needs. the scholar assistance program also collaborates with different lenders to supply information on the way to avail sufficient educational funding. you’ll want to form a search about the wants as early as possible for you to urge the required funds for your education.
With the assistance of the good Lakes college Loan website, you’ll find the many information that you simply got to avail educational loan. the web site also can provide details about the differences and similarities of the loans counting on things . Great lakes borrowing With the assistance of online resources for student loan, you’ll definitely get the financial assistance you would like for you to realize your academic goals.
The organization can help students get useful advice that might be very beneficial in terms of acquiring favorable loan interest rates. apart from the conveniences of the straightforward payment methods provided by the good Lakes college Loan, you’ll also get proper knowledge on the way to restructure your repayment consistent with your preferences.
About Great Lakes
Great Lakes is one of the largest student loan servicers in the whole United States. It is a private-owned corporation which was established in 1967. Since its quality service and work, it is the largest and the most reliable student loan servicer. Besides, Great Lakes borrowing services
According to public reports of 2017, the Great Lakes serviced for more than 7.5 million debt holders and dealt with federal student loans which worth more than $224.4 billion (which is 8,5 billion in private and consumer loans).
By the end of 2019, Great Lakes received almost 20% of new student loans. Even though, in 2017, the Great Lakes merged with another giant student loan servicer – Nelnet, the corporation announced that it would operate under its name.
The HQ of Great Lakes is located in Wisconsin, but there several branches in different states of America such as Indiana, Texas, South Dakota, Minnesota, and Connecticut. There are more than 2000 employees in the corporation currently.
A Basic Review of Great Lakes
Great Lakes provides multiple options for contact when it comes to concerns, questions or early payments. One can contact the Great Lakes by phone, mail, using the mobile application, or entering the online platform. All these options let borrowers make payments with ease.
There is an option for payment method on Great Lakes Student Loans, so you can change your payment to automatic mode which will take the required amount of money from your bank account each month. Through making payment in this method, you can avoid missing the due dates and keep good track of the payments. Besides, this program gives the borrowers 0.25% cut on their interest rate by taking the payments from their bank account automatically.
Problems with Great Lakes Student Loan Servicing
As we mentioned earlier, Great Lakes is one of the nine loan servicing companies that the Department of Education relies on in the billing process of the student debt. Though such important department trusts in the services of Great Lakes, there still occur some unsatisfactory events.
Great Lakes has a better reputation for its work among the competitors. Yet, there are some lawsuits and complaints against Great Lake.
The Better Business Bureau also rates Great Lakes loans with “C” rating. However, some claim that such rating agencies’ conclusions can be biased as they get the main revenue from the organizations they rate.
Right now, while writing this, more than 80% of reviews about Great lakes loan servicer on the Better Business Bureau rating agency’s website is negative. When we take an in-depth look at the historical background of the Great Lakes, we can see numerous problems such as lawsuits, complaints related to student loans.
There is no doubt that Great Lakes is an organization which has strong corporate values. However, it does not guarantee that they will not make a mistake or they do not have incompetent employees. When human labor matters, there are always unpleasant cases, and the Great Lakes is not an exception to this.