The education system has boosted with windows of opportunities all over the world. Without a doubt, all the governments are highly focusing on improving the literacy rate. Rate up to 100% in order to reconcile a better future for the current generation is their motive. During this educational grail, Great Lakes Higher Education Corporation has lent a helping hand. It serves the students who do not have enough access to educational funds via Great Lakes Loans in the United States.
Literacy rate of the United States
Do you know? Recently in 2015, the U.S. Census Bureau declared the results of a literacy survey across the country. In America, only 12% of students have pursued post-graduation, i.e.., advanced qualification. Apart from this, 30% of students pursue a bachelor’s degree after a high school diploma. But, 58% of students only stop education after High school diploma among which around 10% go for GED examination later in lifetime. To begin with, literacy is not simply about knowing how to write your name. But, it is about obtaining higher education. Further, attaining a successful career in corporate, business, or public sector industry.
How does the Great Lakes loans Higher Education Corporation help?
For the most part, some students suffer through the pressure of earning during their teenage in order to fund their education. In this rush of earning, they lose interest in education and move on, or simply compromise with a life of day-to-day paychecks. But, not anymore! It is because Great Lakes Higher Education Corporation is now offering guaranteed student loans since the early 2000s.
Join us on this journey of insightful learning about educational loans, how they work, and how you can sign up for Great lakes loans?
Introduction to Great Lakes loans Higher Education Corporation
Great Lakes Higher Education Corporation is one of the top-notch and cosmic student loan providers in the USA. It aims towards a growing literacy level up to 100%. It offers educational loans for students. The Great Lakes hold self-assigned guarantors and flexible loan repayment terms. This high-end education loan offering corporation was holding ties with the United States Department of Education. Now, it is offering the same-level, yet much flexible service under its contractual ties with Nelnet.
Here’s a fun fact, Do you know? In the early stage of Great Lakes Higher Education Corporation, it tied up with 6, 000 schools. Further, it connects with high-educational institutes for loan services, 1, 100 lenders, and 1 million student borrowers at the time.
Today, the Great Lakes Loans services are available across the country. These are available for orphan students, students raised by single parents, students from minorities, and students with less or zero sources of Income.
Above all, Great Lakes Higher Education Corporation also acts akin to an educational platform for its borrowers. Borrowers who desire to drive their money management system for making the next loan repayment.
What are Great Lakes Loans?
By definition, Great Lakes student loans are also known as Federal Student Loans. These loans do not count or depend upon the credit history of the student. But, they remain flexible towards students. A student can apply for Great Lakes Loans for any institutional program in the United States. Further, the Great Lakes Higher Education Corporation (subsidiary) and Ascendium Education Group Corporation (home organization from 1967) pass the loan request when the student matches the eligibility criteria of the respective educational program via the interested lender.
What are the features of Great Lakes loans?
Great Lakes loans do not leave a child behind
To begin with, the greatest feature of the Great Lakes Loans is that it does not leave any child behind with an education plan hanging in there without any support. It holds different loan programs with different loan repayment options available to the students coming from different educational and cultural backgrounds. Check out the following list of types of Great Lakes Loans available in 2020:
- Grants for Single Mothers
- Low-interest loans
- Student loans without Cosigner
- Graduate student grants
- Personal students loans
- Minority Scholarships
- College Scholarships
- Scholarships for Women
- Grants for African American child
Accurate match of students and lenders
Great Lakes student loans progress upon a high-end comprehension test between students’ requirements and lenders’ potential. When you apply for a federal student loan at Great Lakes online, the authorities start to match whether you are eligible for any of the loan programs. Further, the organization runs an in-depth trail based on all the expenses for such educational programs. For example, if a student’s tuition fee is $4, 000 per annum; the Great Lakes connects the student with the lender with such funding potential under the screening of the loan authorities available. These lenders can be both private and public finance and banking institutions and independent lenders.
Protection against identity theft
For the most part, the Great lakes loan acts as the mediator between the student candidate and the lender in order to protect its lenders against any possibility of identity theft. From approving loans to funding and application for loan consolidation programs, every process goes through the expert team of Great Lakes loans.
Yes. With the help of Great Lakes Higher Education Corporation, a student can also fill in an application for debt refinancing in order to pay off other loans including the Great Lakes Loans. This additional feature helps the students to take-off the pressure of paying-off different repayment of loan installments every month.
Apart from this, the organization remains in contact with the student borrowers through Great Lakes Loans mobile application that offers direct Great Lakes credit card login. This mobile application helps the students to check out the loan status, the number of installments left, the number of installments paid, consolidation program available, outstanding balance, and interest rate.
Zero potential balloon interest
When it comes to debt management for Great Lakes student loans, there is a possibility of ballooning interest upon non-payment or late payment of installment. To recover from this possibility, Great Lakes Loans’ mobile app is available on play store for authentic borrowers of Great Lakes Higher Education Corporation. This application offers great lakes student loans credit reporting from time-to-time. It alerts the student regarding the ballooning interest and offers various alternatives for loan repayment.
Flexible loan repayment plans
To begin with, Great Lakes Loans is one of the most genuine and non-profiting loan schemes for students in the United States. This organization aims towards a rewarding future with a 100% literacy rate which in return leads to enhancement of industries, businesses, and strengthens the country altogether. To fulfill this vision with zero failures, Great Lakes loans offer every possible factor of relaxation to its borrowers. For example, a student can choose among different loan repayment programs while applying for a Federal student’s education loan.
Students loan forgiveness Programs
Do you know? The Great Lakes Loans account disabled refers to an action where the organization disables students’ loan account upon forgiveness for non-repayment of the loan. Thus, a student can receive freedom from the loan repayment under the following circumstances:
- A public service agent or employee.
- A career in the teaching sector in the United States.
- A police officer or a firefighter.
- You have become permanently disabled.
- You are a Nurse.
Following are the different Student loan forgiveness programs set by the Great Lakes Higher Education Corporation and LoanForgiveness.org:
- Public service loan forgiveness
- Teacher loan forgiveness
- Student loan forgiveness for police officer and firefighter
- Permanent disability discharge
- Student loan discharge
- Student loan forgiveness for nurses
- Obama student loan forgiveness
Note: All the Loan forgiveness programs for great lakes loans account disabled are acceptable under various terms & conditions. Thus, to apply for a loan forgiveness program, it is significantly recommendable to learn the eligibility criteria and view whether or not you are best-suited for the program.
How to apply for Great Lakes Loans online?
To apply for Great Lakes Loans online, check out the following instructions given below:
- Visit student loans US official portal or Federal student Aid online portal.
- Click on the FAFSA Application option.
- The FAFSA Login page will appear on the screen.
- Enter your name, DOB, and social security number.
- Click on the Next button.
- Choose your student loan organization, I .e.Great Lakes.
- Select the institution and other information.
- Submit the application.
You will hear from the Great Lakes loan authorities for further process. Wait for their response!
How to process the Great Lakes Loan login?
To login into your student loan account via Great Lakes, follow the instructions given below:
- Visit the Great Lakes Loan official account portal.
- Click on the login button.
- Enter the User ID.
- Enter the password.
- Click on the login button.
As a result, you have successfully logged into your Great Lakes account.
What to do if you do not remember the User ID and password?
- Visit the Great Lakes Loan official account portal.
- Click on the Sign-Up button.
- Enter your social security number.
- The website will recognize your loan account and send verification information on registered email ID.
- Recover your password to log in further.
- You can also view your Great Lakes loan account number online after login.
What are the best repayment features available at Great lakes loan?
As mentioned before, Great lakes student loan offers over eight repayment-related features that help the borrower to manage debt at best. Some highly effective features are as follows:
Great Lakes Pay Online
Great Lakes loan accounts online allow the students to make repayment via net banking, credit cards, debit cards, and other banking options. Thus, the student does not need to go through non-flexible offline payment procedures. Apart from this, students also receive billing statements, outstanding balance, and can view the history of payment for better money and debt management.
Great lakes auto pay allows the borrowers to make payment automatically online without joining in any prepayment procedures. Consequently, students can focus on their studies. For activating the auto-pay option in Great Lakes login account, you can either login directly on the website portal or download Great Lakes loans mobile application available on Play Store as well as Apple store.
Change due dates
This is one of the most helpful repayment options at the Great lakes login account. By using this option, a student can receive permission for changing due dates via the concerned authorities. During the financial crisis, this repayment option remains available for all borrowers. Thus, if a student is not willing to pay an early installment, he/she can change due dates to later in the month. This is also applicable for loan accounts set on automatic pay.
Calculate payoff amount
For enhanced debt management, a student can easily calculate the payoff loan amount online using the Great lakes loan app. It helps students to keep a track of ballooning interest, how much loan amount is paid-off, and how much balance is left? Above all, students can also check out loan consolidation programs and further, apply for loan forgiveness programs if he/she is eligible for the same.
Manage bank accounts
Upon activation of a new bank account or deactivation of a current bank account, students can easily switch bank accounts online at Great lakes and further, the payment will remain deductible from the newly updated bank account. However, a student needs to connect with Great lakes loan authorities to progress such changes. Furthermore, a verification process to the concerned bank is significant. Above all, the new bank account must hold enough balance to cover 2-3 months of loan repayments.
Excess payment preferences
A student can apply for excess payment upon any one of the following conditions:
- Students desire to start making repayments while still in school.
- Students desire to make a full monthly payment.
- Submit a payment.
- Most of the payments are going off for ballooning interest.
- Experiencing past due date crises.
- Paid ahead.
- he/she wants to pay ahead of what is due!
Great Lakes Loans Epilogue
Great Lakes Loans has become the leading platform for the growth of students all over the country in the context of education. With this organization, many opportunities come ahead. From applying for multiple loans to submitting applications for loan forgiveness programs, Great Lakes Higher Education Corporation remains a comforting option as it works for both public as well as private sectoral lenders.
“You do not need to let go of your dreams in the U.S. anymore.”