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April 27, 2022 at 7:55 AM. Great Lakes Educational Loan Services is a student loan servicer that handles both private and federal student loans. A loan servicer doesn’t lend the money. Instead ...
“O ne of the very first things that borrowers with federal loans need to do is determine which specific type of student loan they have, as the repayment options will be different,” said Joe ...
For instance, Great Lakes, which is listed as a loan servicer on the Department of Education’s list of servicers, is now owned by Nelnet. The transition hasn’t been smooth. The transition hasn ...
A student loan is a type of loan designed to help students pay for post-secondary education and the associated fees, such as tuition, books and supplies, and living expenses. It may differ from other types of loans in the fact that the interest rate may be substantially lower and the repayment schedule may be deferred while the student is still ...
Great Lakes Higher Education Corporation was one of the largest student loan providers and guarantors in the United States. [1] Headquartered in Madison, Wisconsin, the corporation is non-profit. It was one of the four largest companies which service United States federal student loans: Great Lakes, Nelnet, Navient, and the Pennsylvania Higher ...
Income-based repayment. Income-based repayment or income-driven-repayment (IDR) is a student loan repayment program in the United States that regulates the amount that one needs to pay each month based on one's current income and family size.
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