Unlike some major companies, Great Lakes does not actually provide the loans.However, they provide borrowers with assistance, customer service, payment details, and meeting customers' repayment abilities once loans are in repayment.I'd probably go ahead and choose them to begin with. Information to help you understand your repayment plan options is at Check that your application is correct and complete, make any edits you might need, then electronically sign and submit your Federal Direct Consolidation Loan Application and Promissory Note.
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Over the last several weeks, I've had 2 different readers reach out about student loan consolidation.
Extending the repayment period may increase your total finance charge, even though you may have a lower monthly payment.
Be aware of all loan terms and conditions before consolidating your educational loans.
Consolidation should only be considered after a thorough investigation of its benefits and drawbacks.
You’ve done your homework and determined that you are ready to consolidate your federal student loans. Here’s what you need to know The Federal Direct Consolidation Loan Application and Promissory Note process must be completed in a single session. You may complete a paper version of the Federal Direct Consolidation Loan Application and Promissory Note but the electronic application is encouraged and will likely be processed more quickly.
We’re going to talk about the right and wrong way to go about consolidating your student loans, but I want to highlight something first. If you choose to work with a student loan assistance or consolidation company, make sure you are careful with your selection process.
As I’ve said in other articles, Ameritech Financial has proven to be a trustworthy company that I have personally inspected and found to be legitimate in their service offerings – but these examples below show the opposite end of the spectrum.
In addition, they partner with the Department of Education and schools to service over billion dollars in student loans under the Federal Family Education Loan Program.
Great Lakes aims to assist borrowers in repaying their student loans successfully.
Your servicer will review your application and your eligibility for the repayment plan you selected.