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Great Lakes doesn’t provide loans — it only services federal student loans or loans provided by private organizations. If you’ve ever taken out a student loan, there’s a pretty good chance ...
Over the past few years, several student loan servicers have ended their relationship in servicing government student loans. This includes popular servicers such as Navient and Great Lakes.
The current loan service providers for the Federal Student Aid (FSA) program are: Great Lakes Educational Loan Services, Edfinancial, MOHELA, Aidvantage, Nelnet, OSLA Servicing, ECSI, and the ...
In October 2017, Great Lakes Higher Education Corporation reached an agreement to sell off 100% of the stock of its subsidiary, the Great Lakes Educational Loan Services, Inc. to Nelnet. The company was to be sold for $150 million, initially keeping CEO Jeff Crosby in charge, but with a plan of consolidating the companies together.
On February 7, 2018, Nelnet completed its acquisition of Great Lakes Educational Loan Services, Inc. The combined company is the largest servicer of student loans in the United States, with $397 billion in loans, or around 42% of all student loans in the United States. Lines of business Nelnet Diversified Services (NDS)
In the United States, student loans are a form of financial aid intended to help students access higher education. In 2018, 70 percent of higher education graduates had used loans to cover some or all of their expenses. [1] With notable exceptions, student loans must be repaid, in contrast to other forms of financial aid such as scholarships ...
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