In the event the education loan is sourced, you would not have the ability to like your servicer. Rather, you may be married with a good servicer via the lender and you may that servicer will then play the role of the brand new liaison between you and the lender. High Ponds services one another federal and private college loans and you can really works having six,100000 universities and you may universities. The company along with works in person towards DOE.

What to expect In the event the Combined with High Ponds

Great Lakes provides borrowers with an outstanding customer service experience by way of their established payment options and emphasis on customer service and satisfaction. The goal of Great Lakes is to create and ensure a successful pathway to repayment for their clients. Great Lakes not only oversees and manages the loans, but they also help educate borrowers by offering a myriad of online financial tools.

Additionally, Great Lakes offers customer support via social https://getbadcreditloan.com/payday-loans-nm/ media. Those who have questions about student loans or are simply looking for general information can ask questions on the Great Lakes Twitter or Facebook pages. However, be sure to only discuss sensitive or account-specific questions via a secure message or telephone call.

High Lakes as well as helps make the genuine percentage processes simple by providing an autopay alternative, having text notification to aid consumers be sure to pay timely. High Lakes also manage individuals to lower payments of the allowing percentage package change or pausing money in times out of economic difficulty in the event you be considered.

High Lakes Student loan Payment Agreements

• Practical Cost: The loan is paid back over the course of 10 years or 120 payments. The loan has a standard amount that is paid monthly.
• Graduated Payment: Monthly payments will begin at a lower amount and increase every 24 months. This may be a good option for those who anticipate an increase in earnings as they navigate their careers. One thing to consider with this plan is that payments made in the beginning go toward paying the interest only and not toward the principal.
• Stretched Repayment: This option is for anyone who has loan amounts in excess of $30,000 in either FFELP or Direct Loans. These plans allow for repayment over the course of 25 years as opposed to 10. This is a good choice for those who may need a lower monthly rate than what is available through the standard repayment plan. Both a standard and a graduated payment plan are available.
• Income-Inspired Payment: As the name suggests, income-driven repayment plans are based on income. As one’s income increases, so does their monthly rate. Additionally, borrowers under this repayment plan will need to keep their income and family size updated annually to ensure ongoing qualification.

Individual Product reviews of great Lakes

While no organization or company is always going to have only five-star customer reviews, there are some variables to consider when looking at the consumer reviews for Great Lakes. Great Lakes does maintain an A+ rating with the Better Business Bureau, which is no small accomplishment.

Secondly, Higher Ponds is just one of the prominent student loan servicers, as well as work tirelessly to provide borrowers making use of devices they require in order to effortlessly pay its figuratively speaking. That have has instance autopay, online account availableness and government, customer care both on the internet and to the social media, and you will a determination to partner with their consumers to be certain it try pursuing the proper installment option, Great Ponds has made an endeavor to make sure a nice consumer provider feel.

Moving forward that have Great Lakes

If you have taken out a private or federal student loan, there is a good chance that you have dealt with Great Lakes. As an intermediary between lender and borrower, Great Lakes has attempted to provide its customers with the knowledge and tools they need to ensure a successful track to repayment.