Due to the government’s new Next Gen Business Process Operations initiative, Great Lakes and its parent company Nelnet will no longer service federal student loans after December 2020. If Great Lakes is your current loan servicer, The Department of Education will assign you a new loan servicer.
Simply so, are my great lakes student loans Federal?
How Great Lakes Can Help You With Your Student Loans. Great Lakes is a U.S. Department of Education federal student loan servicer. We help with student loan questions, repayment, consolidation, payment relief, and more.
People also ask, is Great Lakes borrower a federal loan?
Keep in mind: As a loan servicer, Great Lakes is neither a private nor a federal loan. The company actually services both private and federal loans, so the type of loan you have won’t change once you start paying it off with Great Lakes.
Is Great Lakes Department of Education?
Great Lakes Student Loans is a student loan servicer that contracts with the U.S. Department of Education. As a servicer, the company is responsible for helping borrowers manage billing and payments for federal student loans. Great Lakes Student Loans handles 15% of all federal student loan accounts.
Is Great Lakes part of Navient?
Can you separate myth from fact? Great Lakes, FedLoan Servicing, Navient, and Nelnet are student loan servicers. They’re the connection between you and the lender. For federal student loans, the interest is determined by the Higher Education Act as enacted and amended by Congress.
Is Nelnet the same as Great Lakes?
Nelnet and Great Lakes, which are part of the same company and collectively service federal student loans for approximately 13 million student loan borrowers, may no longer service federal student loans after December 2020.
Is nelnet the same as Navient?
What Borrowers Need to Know About Navient Lawsuits. … Federal student loan servicers, such as Nelnet and Navient Corp., are companies that collect payments, respond to customer service inquiries and perform other administrative tasks on behalf of the U.S. Department of Education.
What is the phone number for Great Lakes student loans?
Where are Great Lakes loans?
Where do I find my student loan account number Great Lakes?
The number will be on your 1098-E Student Loan Interest Statement, which you can access by logging in to mygreatlakes.org and selecting My Accounts » Tax Filing Statements.
Who bought Great Lakes student loans?
Who did Navient sell my loan to?
Who is Great Lakes owned by?
The water in the Great Lakes is owned by the general public according to the Public Trust Doctrine. The Public Trust Doctrine is an international legal theory – it applies in both Canada and the United States, so it applies to the entirety of the Great Lakes.
Why are my loans in forbearance?
You can request a general forbearance if you are temporarily unable to make your scheduled monthly loan payments for the following reasons: Financial difficulties. Medical expenses. Change in employment.