The Great Lakes Student Loans [Complete Information]

The Great Lakes Student Loans: If you are looking for Student Loans, then we believe that The Great Lakes Loans is the name you might surely have heard of.

In this article, we will give you an insight into the Great Lakes Loans system so that you can get an idea about how it works. Let’s get started.

The Great Lakes Student Loans

The Great Lakes Student Loans

What is The Great Lakes Loans?

About Great Lakes Loans

Great Lakes Higher Education Corporation is one of the biggest service of student loans and guarantors in the United States. Based in Madison, Wisconsin, it was intercepted in the year 1967 and takes pride in being the best service of federal loans to students. In collaboration with around 6000 schools and 1100 lenders, it is a service of federal loans to millions of students.

Their company slogan “Doing what’s right”, signifies their attitude of giving back to the community. If statistics are to be considered, until now, the company has facilitated around $130 million to students in the form of grants, scholarships, and college adviser services.

Most of the people get confused and think Great Lakes as a loan provider. However, this is not true. It does not offer loans but serves as a loan service and guarantor that makes it easy for the students to get an education loan without any hassles. They act as a point of contact to the students with the help of their website and application. The students can easily have access to their loan information and can make timely payments with Great Lakes Loans.

Great Lakes Education acts as a mediator between the students who are borrowing the money and the loan providers. Whether the loan lending agent is the Federal government, state government, or a private lender, Great Lakes works in direct coordination with the student borrowers to manage all the details related to the loan.

With the help of the Great Lakes account, the student borrowers can access entire information about their education loan, see all the repayment options, keep a check on the outstanding balance and initiate regular payments. It also works hand in hand with the students for calculating the entire cost of the loan to make the students understand all their responsibilities.

Great Lakes offers a wide range of the financial services for educating the students about the best methodology for managing their finances during and after their graduation. All the detailed information like repayment options, loan deferments and the loan consolidation and preparing their borrowers for a financial emergency that mar threaten the process of their loan repayment.

The Great Lakes Student Loans Customer Service

Great Lakes Student Loans Customer Service

The Great Lakes Student Loans Customer Service

– The Great Lakes Student Loans Phone Number
In case you have any queries related to the loan services of Great Lakes, you can give a call on the number- +1 800-236-4300. The representatives will be available to entertain your queries from Monday to Friday in working hours i.e. 7 am to 9 pm.
– The Great Lakes Student Loans Email
In case you want to drop a mail to the Great Lakes Student customer service, you can fill out the complaint form on this website – https://www.mygreatlakes.org/educate/contactUs/home.html

The Great Lakes Loans Type

Is The Great Lakes Loans Federal or Private?

Great Lakes Loans is a federal student loan service. Federal student loans are the ones which are funded by the government of the country. These loans are characterised by low interest rates and repayment options that are flexible.

The Great Lakes Loans Requirements

The Great Lakes Student Loans Interest Rate

The interest rate on the federal student loan are given by the Federal Government and are serviced by private companies like Great Lakes. The congress decides the interest rate on the Federal student loans every year based on the financial market. The interest rates vary depending on the type of loans.

The rates are not based on the credit score or the ability of the borrower to repay them. All the federal student loans have got fixed interest rate on them and they do not change throughout the tenure of the loan.

Loan Type Borrower Type Interest Rate
Direct subsidized/unsubsidized Undergraduate 4.45%
Direct unsubsidized Graduate 6.00%
Direct PLUS Graduate, Parents 7.00%
Perkins Loans Undergraduate, graduate 5.00%

The amount of interest rate you will have to play depends on the factor whether your loan is subsidized or unsubsidized.

The Great Lakes Loans Form

Download Tax Form: A tax credit is the reduction of the money of the federal taxes you owe to the Federal government. Even though the credits available to the user differ based on the eligibility and the amount, they do one thing-reduce the amount so taxes that you have to pay. For student loans tax, Form 1040 is needed to be filled by the US residents. You can download this form from here – https://www.irs.gov/pub/irs-pdf/f1040.pdf

Final Point: The Great Lakes Student Loans

The Great Lakes Student has got both positive and negative reviews from the students. Let’s have a look at some of the positive ones:

“I was really worried about the management of student loan. Since I am a naïve to all this loan thing, I didn’t have even a slightest idea about how the entire education loan thing worked, Great Lakes helped me a great deal in effectually managing my student loan for my graduation and helped me to manage my interest rate.”

 

This was all about The Great Lakes Student Loan. We hope that you have got some good information about the procedure of servicing education loans. The Great Lakes Student Loans.

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