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Great Lakes Higher Education Corporation was one of the largest student loan providers and guarantors in the United States. [1] 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 ...
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]
Websites like Nelnet, Great Lakes, and even the Federal Student Aid website crashed, likely due to overwhelming traffic.
In 2021, student loan servicers began dropping out of the federal student loan business, including FedLoan Servicing on July 8, Granite State Management and Resources on July 20, and Navient on September 28. [41] According to Sallie Mae, as of 2021, 1 in 8 families are using private student loans when federal financing does not cover all ...
Even though the U.S. Supreme Court struck down President Biden's proposal for student loan forgiveness, more than 43 million Americans with student loan debt could still benefit from a different,...
The student loan unit, which represented nearly 30% of the company's loan volume in the first quarter of 2022, represented just 15% in the first quarter of 2023.
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