I guess they have the federal government feeding them customers so what do they care if young people trying to repay student loans get screwed? 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. Great Lakes should immediately be removed from the US Department of Education list as an approved loan servicer. We also reference original research from other reputable publishers where appropriate. 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. I am done. (The other big ones are FedLoan , Navient , and Nelnet .) Original review: Sept. 10, 2020. It’s criminal and sad. Great Lakes is one of the companies named in a class-action lawsuit. Whatever type of student loan you have, you’ll make payments through the Great Lakes online portal. Who is Ascendium Education Group. "Elizabeth Warren, Cory Booker Take Aim at Student Loan Company Merger." . Also make ssuccessful student loan repayment possible, in partnership with the U.S. Department of Education and private lenders. Thank you, you have successfully subscribed to our newsletter! The decision indicates that … Great Lakes Educational Loan Services Reviews search trends: Gallery Need more pictures of student choice inc like this for 2016 Choice inc education perfect images are great Color photo with inc education higher education Color photo with education higher education loans Great higher education loans borrower image here, very nice angles Since they handle all of the minutiae of your loans, it can be hard not to take things personally. See reviews, photos, directions, phone numbers and more for Great Lakes Educational Loan Services … For more information, see the developer's privacy policy. I feel like their actions must be illegal. The company has always had the interests of the student loan borrowers at the forefront and was big into helping local schools. If you think that refinancing sounds like the right thing for you, check out our list of the best refinancing lenders. When I called to see why they were not putting it towards principal they gave me some gibberish about the day of month I pay it (which I have no control over). A company that … Currently, Great Lakes services both Federal Family Education Loan Program (FFELP) loans and Federal Direct Loan Program loans, including the following loan types:, If you have Great Lakes as your loan service, you can contact its customer service department if you have any questions or issues about the following topics: . Nelnet’s acquisition made it larger than both American Education Services and FedLoan. Click here to read our review of GSMR; Great Lakes Educational Loan Services. SunTrust Student Loans Review. Mission While student loan servicers are assigned to you, you can change your servicer if you consolidate your loans. If Great Lakes is your current loan servicer, The Department of Education will assign you a new loan servicer. The final straw is when they decided to randomly bill me for $2,000 and overdrafted my checking account. In this post, I’ll explain who Ascendium Education Solutions is and what they have to do with your student loans. 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. Apply to Customer Service Representative, Physical Therapist, Exercise Physiologist and more! Updated May 21, 2020. It took every spare penny to finally reach my goal of being debt free, how can I pay my rent this month? Be the first one to find this review helpful. Ascendium Education Group is a nonprofit, loan guarantor and education philanthropy that provides tools and services that drive college completion. When it comes to your student loan payments, there are rules that apply to all student loan servicers. Accessed July 1, 2020. I feel sorry for anyone that has to deal with these scumbags. Loan servicers aren’t lenders. It has offered a variety of loans to students as well as parental loans … 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. , In May 2020, the Student Borrower Protection Center filed a class-action lawsuit against Great Lakes, Equifax, TransUnion, Experian, and VantageScore. By using Investopedia, you accept our, Investopedia requires writers to use primary sources to support their work. 44 Great Lakes Educational Loan Services jobs available on Indeed.com. They are without any guiding compass of ethical business practice. I called the company once again, their helpful customer representative came to the rescue again by telling me, since the payment had been made (mind you the day the payment was made was also the same day I called about canceling this payment) They would not be able to refund my money for at least 2 months. Accessed July 1, 2020. Read real Student Loan reviews written by Credit Karma members. If Great Lakes is your loan servicer, here is what you need to know. 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 . 73K likes. , You can find out who your loan servicer is by looking up your information on the National Student Loan Data System or by calling the Federal Student Aid Information Center at 1-800-433-3243. Their response communicated the error and clearly explained each action that will be taken to address, correct and reverse the issue. 03/09/2020. I am irate. Wells Fargo Student Loan Review 2020. I bet that the majority of people use autopay and many of them don’t realize they need to cancel after paying off the loan. And without credit, my life is destroyed. Then, enter your Social Security number and birth date. Great Lakes Higher Education Corporation is not offering student loans; it is just intermediary institution which guarantees the loans to the borrowers. Find the right Student Loan for you or add your own Student Loan review. Great Lakes services Federal Family Education Loan Program (FFELP) loans, Federal Direct Loan Program (Direct Lending) loans, and private loans. This Great Lakes review will cover everything you need to know about your Great Lakes loan. Last year, Nelnet bought Great Lakes’ student loan servicing business, Great Lakes Educational Loan Services. To attend to all customers, the team works 24/7. It is very important to do your own analysis before making any investment based on your own personal circumstances and consult with your own investment, financial, tax and legal advisers. Then they go ahead and take action without your knowledge by either placing you in deferment or forbearance. Manage your loans no matter where you are. Get buying tips about Student Loans delivered to your inbox. It can help you to: Pay a lower interest rate. Then they proceeded to report me to the credit bureaus, destroying my credit. If you have taken federal loan via Great Lakes Student Loans services, then you are going to have several repayment options. Search for Great Lakes Educational Loan Services Faster, Better & Smarter Here at Kensaq.com Great lakes student loans - Great lakes student loans Great Lakes, Equifax, TransUnion, and Experian Sued for Damaging Millions of Student Loan Borrowers' Credit, Mishandling Pandemic Relief. Education Secretary Betsy Devos (Photo by John Lamparski/Getty Images) Getty Images. Investopedia uses cookies to provide you with a great user experience. Great Lakes Loans is one of the nation’s largest student loan servicers, servicing 1 in 4 student loans or 23% of direct loans. Your loan servicer is the company the Department of Education assigns to handle billing and customer service issues. One of the biggest loan servicers is Great Lakes Educational Loan Services. Choose Great Lakes and they will be sure to take advantage of your financial needs while attending higher education. The Registered Agent on file for this company is Business Filings Incorporated and is located at 701 S Carson St Ste 200, Carson City, NV 89701. Welcome to Great Lakes Educational Loan Services, Inc. (Great Lakes), an affiliate of Nelnet Diversified Solutions, LLC. If there is any money left over, it’s applied to the principal of the loan with the highest interest rate. You can learn more about the standards we follow in producing accurate, unbiased content in our, By phone: (800) 236-4300, M-F 7:00 a.m. - 9:00 p.m. CT. What Is Great Lakes Educational Loan Services? If Nelnet or Great Lakes service your federal student loans, you may get a new student loan … What kind of BS is this? Enjoy reading our tips and recommendations. Unsubscribe easily. Class action lawsuit anyone? They don't want you to pay down your students loans. 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. Then the following month Great Lakes withdrew my monthly autopay amount out of my account. Besides, Great Lakes borrowing services. But, it can be worthwhile, especially if you have multiple federal loans to juggle. 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. According to Great Lakes, direct loans can qualify for a 0.25 percent interest rate reduction when you use auto pay. 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. To minimize any issues with your loan servicer, make sure you pay all of your minimum payments on time, review your account statements, and contact your servicer right away if you notice any errors. Great Lakes Mobile by Great Lakes Educational Loan Services Similar Play App Stats is the most popular Google Play Store Optimization & SEO tool. "Student Loan Consolidation." To me this should be illegal. Find Great Lakes Educational Loan Services if you are Looking Now. 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. If your student loans are serviced by Great Lakes, a class action lawsuit might affect your rights. This company is not yet accredited. "Public Service Loan Forgiveness." We provide clear direction and solid guidance through the often overwhelming sea of educational choices. Together with its parent company Nelnet, Great Lakes is responsible for managing nearly 40% of the outstanding debt held by student loan borrowers. Page 21. Annual Report of the CFPB Private Education Loan Ombudsman. Accessed July 1, 2020. As one of the largest student loan servicers, Great Lakes works with more than 6,000 schools and millions of students nationwide. I have paid off the majority of the loan I borrowed years ago. Rates and Terms Available (3 out of 5 Stars) They hold themselves out as a 501(c)3 non-profit but clearly they do operate for a profit. How can you not see a payment that's been made on your bull crap website? "Who's My Student Loan Servicer?" For reviews of Great Lakes Educational Loan Services, Inc. see below. I want to sue the crap out of them. Great Lakes Educational Loan Services incorrectly reported student loan payments to the credit bureaus, affecting some borrowers’ credit scores. The developer, Great Lakes Educational Loan Services, Inc., has not provided details about its privacy practices and handling of data to Apple. Customer Service has always been a position I did quite well at. It would be easier, and more convenient to cut off my right arm (I am right-handed) than it is to deal with Great Lakes. Accessed July 1, 2020. I contacted the company about this through their online portal and received a response in less than 24 hours. How do I know I can trust these reviews about Great Lakes? All outstanding interest and fees, if applicable, must be paid first, before the servicer can put any of your payment toward the principal. I have auto-payment set up and through my work have been able to make an additional payment every month thinking it would help pay down my loan faster. For more information about reviews on ConsumerAffairs.com please visit our The culture at Great Lakes has attracted employees who all share a belief in the value of higher education. 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