Great Lakes Educational Loan Services, Inc. has been in business for over thirty five years. They provide Great Lakes student loans to people who are in need of financing information for their higher education. The company works with schools, lenders and students to find the best possible options they will fit the needs of the student. Students who are unsure of their options and responsibilities can contact Great Lakes student loans to see what options are available to them and get their questions thoroughly answered in regards to their responsibilities in taking out a student loan. The staff is well trained and will be able to help the student and the student's family research options and make the choice that will be best for the student's financial future.
Great Lakes student loans focus on repayment of the loans by assisting the student with repayment options. They work with lenders to offer administrative and customer service options so the process is easier and smoother for both the student and lender. They make their money in a fee for service manner, assisting students to repay their loan. Many similar services make their money off loans that are in default and if money is collected, they receive a fee. In contrast, Great Lakes student loans collect a fee and attempts to have all their loans successfully repaid. This benefits the credit history of the borrower and helps the lender by having fewer defaulted loans.
The Great Lakes website has a plethora of information and valuable tools on it that are designed to assist borrowers, parents and lenders. You can assess your loan by using a loan calculator that is provided on the site. You can calculate your federal loan payments or calculate what your payments will be when consolidating your loans. You can learn all about loan consolidation and the pros and cons of doing so in order to determine if that is the best solution for you. You can look at federal student loans and alternative student loans supplied through private banks and financial institutions to determine if you need one or several types to fund your college experience. Many people choose a combination of federal loans and private in order to pay for the total cost of college including books and living expenses. Great Lakes student loans will help you analyze each option and give you information on your rights and responsibilities when choosing a loan and taking out the loans.