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In October 2017, Great Lakes Higher Education Corporation reached an agreement to sell off 100% of the stock of its subsidiary, the Great Lakes Educational Loan Services, Inc. to Nelnet. [8] The company was to be sold for $150 million, initially keeping CEO Jeff Crosby in charge, but with a plan of consolidating the companies together. [9]
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]
Key takeaways. CornerStone was previously one of eight approved federal student loan servicing agencies that provided loans nationwide. Although Cornerstone was contracted to service loans through ...
Nelnet, which took over loans from Great Lakes Higher Education. EdFinancial. While these changes, in the long run, could benefit borrowers as the ED indicated, experts expect some challenges ...
For 42.9 million student loan borrowers , it’s been 18 months without a payment. The interest-free federal student loan payment pause, known as a forbearance, was extended three times after it ...
Now that the more than three-year COVID-19 student loan payment pause has come to an end, 28 million borrowers have entered repayment since Oct. 1, 2023. With this massive transition from a full...
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