Great Lakes Higher Education Corporation is one of the country’s biggest student loan servicers.They service federal loans for millions of students, working with 6,000 schools and 1,100 lenders. Better Business Bureau. If you have taken federal loan via Great Lakes Student Loans services, then you are going to have several repayment options. Great Lakes "higher education" is as fraudulent in their practices as a $3 bill. They stay because we invest in our communities and reward people for doing what's right. Who is Ascendium Education Group. See reviews, photos, directions, phone numbers and more for Great Lakes Educational Loan Services locations in Mendota Heights, MN. I am done. No one knows what is going on, unless you get past the "Borrower Services" branch. Federal Loan Borrowers Great Lakes-serviced borrowers can access their accounts, manage payments, and contact Great Lakes via … About Great Lakes Educational Loan Services Great Lakes Educational Services has been in business for more than 50 years, and has a “C” rating with the Better Business Bureau . We collected over 45 data points across more than 15 lenders—including interest rates, fees, loan amounts, and repayment terms—to ensure that our content helps users make the right borrowing decision for their education needs. Unprofessional, Lost Minded, and truly does not know what they are doing whatsoever. It has offered a variety of loans to students as well as parental loans … MygreatLakes.org Student Loan Review: Taking a Student Loan sounds Great but at the same time it can be a heavy financial burden, so having the right Corporation behind you is pertinent. This Great Lakes review will cover everything you need to know about your Great Lakes loan. If you’ve taken out loans for schooling then you already know that your student loan server is something of a necessary evil. Borrower Services Representative (Former Employee) - Eagan, MN - August 28, 2019. I want to sue the crap out of them. Great Lakes Loans is one of the nation’s largest student loan servicers, servicing 1 in 4 student loans or 23% of direct loans. Student Borrower Protection Center. 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. The non-profit company based in Madison, WI has been in business since 1967 and pride themselves on giving back to their community with a company slogan of ‘Doing what’s right’. We value your privacy. Federal Student Aid. We’ll start sending you the news you need delivered straight to you. You just need to sign up for auto pay. Great Lakes, Nelson’s loan servicer, manages borrow ers’ accounts, processes payments, assists borrowers with al ternative repayment plans, and communicates with borrow ers about the repayment of their loans. The company's filing status is listed as Active and its File Number is E0625082014-3. Be the first one to find this review helpful. Trying to be responsible and all and pay back the money I owed. A link has directed you to this review. … Great Lakes Student Loans and Services. This company is not yet accredited. It took every spare penny to finally reach my goal of being debt free, how can I pay my rent this month? We provide clear direction and solid guidance through the often overwhelming sea of educational choices. Great Lakes Student Loans and Services. Accessed July 1, 2020. That adds up to around 8 million Great Lakes borrowers with debts of over $220 billion. Great Lakes informed me that they couldn’t refund my payment for 45 DAYS! Great Lakes Educational Loan Services is based in Madison, Wisconsin—part of the Great Lakes region—though it offers student loan servicing nationwide. In order to cancel this payment I had to work with my bank and have this called a fraudulent charge. Also make ssuccessful student loan repayment possible, in partnership with the U.S. Department of Education and private lenders. We provide support to make higher education accessible, the financial aid process simpler, and the possibility of paying for college real. That takes us to Great Lakes Higher Education Corporation as one of the largest loan servicers, sod we believe it is significant to know if it is legit or a Scam. Since 1967, we’ve helped millions afford college by connecting them with solutions that fit their life. Along with its parent company Nelnet, Great Lakes is one of the largest federal loan servicers, managing over 40% of the outstanding debt held by student loan borrowers. , While Great Lakes does offer private loan processing for other lenders, its primarily known as a federal loan servicer. . Typical predatory loan servicer using the system to line their pockets. Great Lakes has been the target of many borrower complaints, with borrowers saying the servicer mishandled their payments and misreported their credit information. "Frequently Asked Questions." Thought I was done with these scumbags. Besides, Great Lakes borrowing services. If you can, automatic payments are a good idea. Great Lakes Educational Loan Services incorrectly reported student loan payments to the credit bureaus, affecting some borrowers’ credit scores. Since they handle all of the minutiae of your loans, it can be hard not to take things personally. You cannot choose your own loan servicer—one is selected for you after your loan is disbursed., Great Lakes Educational Loan Services—more commonly known simply as Great Lakes—is one of 11 companies that are currently authorized to service federal student loans. If your student loans are serviced by Great Lakes, a class action lawsuit might affect your rights. Until now … Great Lakes Educational Consulting provides educational support and guidance for families throughout the United States and abroad – helping them select the most appropriate boarding school, summer camp or special needs school or program. If you think that refinancing sounds like the right thing for you, check out our list of the best refinancing lenders. Accessed July 1, 2020. Find the right Student Loan for you or add your own Student Loan review. Learn more at www.mygreatlakes.org. Box 7860, Madison, WI, 53707-7860. MygreatLakes.org Student Loan Review 2021. I am very pleased with the prompt customer service and communication on this matter. Great Lakes Educational Loan Services, Inc. is a Nevada Foreign Corporation filed on December 15, 2014. Read real Student Loan reviews written by Credit Karma members. Education Secretary Betsy Devos (Photo by John Lamparski/Getty Images) Getty Images. All outstanding interest and fees, if applicable, must be paid first, before the servicer can put any of your payment toward the principal. I feel sorry for anyone that has to deal with these scumbags. Your information is secure with our identity confirmation process and robust encryption technology. Our content is intended to be used for general information purposes only. Great Lakes, Equifax, TransUnion, and Experian Sued for Damaging Millions of Student Loan Borrowers' Credit, Mishandling Pandemic Relief. , In May 2020, the Student Borrower Protection Center filed a class-action lawsuit against Great Lakes, Equifax, TransUnion, Experian, and VantageScore. 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. Read real Student Loan reviews written by Credit Karma members. Accessed July 1, 2020. Great Lakes Educational Loan Services website; Telephone number: 800-236-4300, 7:00 a.m. to 9:00 p.m. CST; Email: You can send an email directly through the website; General correspondence address: P.O. It handles about 1 in every 4 student’s loan issued by federal government. I feel like their actions must be illegal. Great Lakes Educational Loan Services, Inc. Great Lakes Higher Education Corp. is one of nine companies that service federal loan debt by collecting and tracking payments. 18 1531 many billions of dollars in federal student loans for millions of borrowers. You can reach customer service through the mobile app or secure email, as well. Get buying tips about Student Loans delivered to your inbox. One of the biggest loan servicers is Great Lakes Educational Loan Services. 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. They act as the direct contact between students and lenders throughout the life of a college loan. Great Lakes in based in Madison, Wisconsin and has been in business since 1967. Mission Find 1 listings related to Great Lakes Educational Loan Services in Madison on YP.com. Hours of operation: 6-7 Mon-Thurs and 6-5 on Fri (MT) General mailing address: CornerStone Education Loan Services P.O. It is a non-profit corporation and is one of the country’s leading student loan service providers in the US with around 10 million borrowers. Great Lakes Educational Loan Services NMLS ID# 218642 NMLS Consumer Access. Great Lakes services 6 No. They are without any guiding compass of ethical business practice. The contents of this site may not be republished, reprinted, rewritten or recirculated without written permission. About Great Lakes Educational Loan Services. This is to make sure that there are misunderstandings of any kind with regard to the My Great Lakes student loan. Accessed July 1, 2020. If Great Lakes is holding on to an extra payment for all those people for 45 days they are earning some serious interest. Elizabeth Warren, Cory Booker Take Aim at Student Loan Company Merger. Find the right Student Loan for you or add your own Student Loan review. Totally crooked. The only reason they got one star is because THEY don't have a ZERO!!!! Apply to Customer Service Representative, Physical Therapist, Exercise Physiologist and more! Find Great Lakes Educational Loan Services if you are Looking Now. The final straw is when they decided to randomly bill me for $2,000 and overdrafted my checking account. Updated May 21, 2020. If you’d prefer the excess be applied to a different loan, you can change your preferences online under your account Excess Payment Preferences. I contacted the company about this through their online portal and received a response in less than 24 hours. Great Lakes offers student loan service, benefits and assistance in a variety of ways. Then the following month Great Lakes withdrew my monthly autopay amount out of my account. Great Lakes. The first option is the standard repayment plan which consists of 10-year payments with a fixed amount for each month. Nelnet’s acquisition made it larger than both American Education Services and FedLoan. 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. It’s criminal and sad. Class action lawsuit anyone? While student loan servicers are assigned to you, you can change your servicer if you consolidate your loans. Great Lakes should immediately be removed from the US Department of Education list as an approved loan servicer. Federal Student Aid. I thought wrong! A company that … 03/09/2020. Original review: Sept. 10, 2020. Annual Report of the CFPB Private Education Loan Ombudsman. You reach out and contact them as to why this is happening, and they don't get back to you for weeks. For maps and directions to Great Lakes Educational Loan Services, Inc. view the map to the right. Representatives are available Monday through Friday 7 a.m. to 9 p.m. CST. What other loan servicer requires that? If Great Lakes is your current loan servicer, The Department of Education will assign you a new loan servicer. Overall, I did enjoy my position at Great Lakes and I was very good at my job. Great Lakes is the Loan Originator for federal consolidation loans, which means you can choose it as your servicer when applying for such a loan through the Department of Education. According to Great Lakes, direct loans can qualify for a 0.25 percent interest rate reduction when you use auto pay. Accessed July 1, 2020. It can help you to: Pay a lower interest rate. Accessed July 1, 2020. Wells Fargo Student Loan Review 2020. If you have Great Lakes and are unhappy with the service you’ve received, know that its contract ends in December, and you’ll be assigned to a loan servicer at that time. 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. 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