Is Great Lakes a private lender?

Is Great Lakes student loans private or 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.

Is Great Lakes loan legit?

If you got something in the mail from a company called Great Lakes and you don’t recognize the name, you may be wondering if it’s legit. And that’s a reasonable thing to wonder. … Great Lakes is, indeed, a legit company. In fact, they might even be your student loan servicer.

Are Nelnet and Great Lakes the same?

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.

Are Stafford Loans federal or private?

Because Stafford Loans are federal loans, they have different eligibility than private student loans (administered through a private lender, like a bank or credit union). Most students who qualify for aid are eligible for Stafford Loans.

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.

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Does Great Lakes refinance private student loans?

It totally is. The only catch: You’ll have to say “so long” to Great Lakes. To refinance your Great Lakes student loan to a lower interest rate, you’ll need to apply for refinancing through a private lender. The good news is this whole process is pretty easy, and people do it all the time.

Is Great Lakes Federal?

Who is Great Lakes? Great Lakes is a student loan servicer who was chosen by the U.S. Department of Education (ED) to service your federal student loans. We keep you up-to-date with information about your loans and help you manage paying them back.

Is Mohela private?

MOHELA, or the Missouri Higher Education Loan Authority, is a nonprofit company and services both federal and private student loans.

Why Do Great Lakes call me?

So get a clue, Great Lakes wants to help you with your loans, because that is how they get paid. If you default it goes to collections, your wages are garnished and tax returns are intercepted. The government tracks you by your ssn. These are your student loans and it is up to you to manage them.