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Headquartered in Madison, Wisconsin, the corporation is non-profit. It was one of the four largest companies which service United States federal student loans: Great Lakes, Nelnet, Navient, and the Pennsylvania Higher Education Assistance Agency. [2] In 2018, the loan servicing part of the organization was sold to Nelnet.
On February 7, 2018, Nelnet completed its acquisition of Great Lakes Educational Loan Services, Inc. [8] 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. [9]
Starting in August, about 25 million student loan borrowers nationwide will begin getting emails about next steps to forgiving their debt, the U.S. Department of Education announced Wednesday.
Individuals who earn less than $125,000 and couples whose income is under $250,000 can apply for up to $10,000 in federal student loan forgiveness. It doubles to $20,000 for Pell grant...
The Biden administration's most successful effort to forgive student-loan debt will end April 30. Here's what you need to do to qualify.
The plan is smaller and more targeted than Biden's original plan, which would have canceled up to $20,000 in loans for more than 40 million borrowers. The new plan would cancel some or all federal student loans for more than 30 million Americans, the White House said.
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