April 23, 2024
Loans

Great Lakes Educational Loan Services Overview – Forbes Advisor


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The federal student loan system went through several changes over the last few years, one of which involves a shuffling of loan servicers. For instance, as of summer 2023, Great Lakes Educational Loan Services left the servicing business.

What Was Great Lakes Educational Loan Services?

Great Lakes Educational Loan Services provided loan management and borrower support services for more than 50 years. The Wisconsin-based company served more than 6,000 schools, partnered with 1,000 lenders and provided loan servicing support to millions of borrowers.

It oversaw billing and answered borrowers’ questions about their student loan accounts. Great Lakes borrowers could also submit requests to the servicer for income-driven repayment plans and turn to them for their student loan records.

In February 2018, Great Lakes was acquired by Nelnet Diversified Solutions, LLC, the parent company of Nelnet Federal Student Loan Services. In the summer of 2023, Great Lakes’ student loan servicing portfolio was transferred to Nelnet Federal Student Loan Services.

About Nelnet Federal Student Loan Services

Nelnet Federal Student Loan Services has been in the loan servicing industry for decades. To date, it has helped 15 million borrowers with managing their federal education loans. Along with accepting your loan payments on behalf of the Department of Education, it facilitates repayment plan requests and deferment and forbearance options.

How To Know If Great Lakes Was Your Loan Servicer

To confirm whether Great Lakes once serviced your loans, log in to your StudentAid.gov account. Find the “My Loan Servicers” section within your Student Aid dashboard to see your servicers.

You can also contact the Federal Student Aid Information Center at 800-433-3243.

How To Repay Your Great Lakes Student Loans

To repay your student loans that were once with Great Lakes and are now with Nelnet, you can pay:

  • Online or by phone. You can make payments over the phone by calling 888-486-4722 or online through your Nelnet.com account. To avoid missing a payment, you have the option to set up autopay as well.
  • Through your bank. Your bank may offer online bill pay through their payment system. If you use this payment method, you’ll need to identify Nelnet as the “payee” and provide your Nelnet account number, and the P.O. Box address found on your loan statement.
  • By mail. You can also mail your payment. The initial letter of your account number determines the address you send payments. You can review the addresses online.

In addition to these payment options, you can also create special payment instructions on how you want your payments applied to your loan balance. A one-time payment instruction can be set up within your Nelnet.com account while making a payment. You can also set up recurring instructions for all future payments.

Outside of paying through Nelnet, you can also access your Great Lakes borrower payment history. Log in to your Nelnet.com account and go to “Inbox” within the Documents menu to find this information.

Contacting Great Lakes Educational Loan Services

If you have concerns or questions about your student loan, contact Nelnet for assistance. Nelnet is your primary resource for your previously serviced Great Lakes student loans.

Call Nelnet

To contact Nelnet via phone, dial 888-486-4722. The support center is open:

  • Monday from 8 a.m. to 9 p.m. ET
  • Tuesday and Wednesday from 8 a.m. to 8 p.m. ET
  • Thursday and Friday from 8 a.m. to 6 p.m. ET

Email Nelnet

If your inquiry isn’t urgent, you can also email Nelnet. You can access an email form on Nelnet’s website. Along with your basic contact information, include your account number or Social Security number to avoid response delays. If using your account number, ensure you use your assigned Nelnet account number, not your previous Great Lakes account information.

California residents can also email direct correspondences to writtenrequest@nelnet.net.

Bottom Line

If your loans were transferred from Great Lakes to Nelnet, you should’ve received a notification about the transfer before and after it was completed. You should’ve also received your new Nelnet account number. For more information about your transferred Great Lakes school loans, visit Nelnet.com.

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