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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]
The Federal Trade Commission said it is sending thousands of checks totaling more than $822,000 to borrowers who lost money in a student loan debt-relief scam that operated under the name Student...
Since she had paid off the small loans she took for college, she connected the callers with her mom, who had $100,000 in education debt that she had taken out to cover Mendoza’s education.
According to Forbes and anti-spam/scam platform RoboKiller, Americans lost $5 billion to student loan fraud in 2022. Borrowers received 700 million student-loan-related robocalls every month last ...
The payor was required to report the name and address of the payee and the total amount of payments on Form 1099 and sent to the Internal Revenue Service by March 1 of the year following the payments. The payor was required to include Form 1096, a letter of transmittal and affidavit certifying the accuracy of each Form 1099. [34] [35]
As of this year, Americans now owe $1.77 trillion in federal and private student loan debt and while the Biden administration tried to decrease that amount, the Supreme Court issued a decision ...
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.
Around 44% of federal student loan borrowers who began repayment this month have a new loan service provider, according to the Consumer Financial Protection Bureau, after three loan service ...
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