Consolidating private student loans great lakes

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The repayment plans available to you will depend on your finances and whether you have private or federal loans.Great Lakes doesn’t actually play a role in determining repayment options, but rather makes sure the borrower is being charged the appropriate amount given the plan he or she has selected.

*Speaking of autopay, it’s a good idea to get it set up as soon as makes sense for your budget, as you’ll receive a 0.25 percent interest rate reduction for any Direct Loans you’re repaying.Great Lakes Higher Education Corporation and Affiliates is a non-profit corporation with more than 1,300 employees, all committed to changing lives for the better through higher education.We’re one of the country’s leading guarantors and servicers of student loans, serving millions of borrowers, the U. Department of Education, more than 6,000 schools, and 1,100 lenders nationwide.With Great Lakes, you can even start making payments while you’re still in school, which can give you a valuable head start.Most loans start accruing interest even while you’re in school (unless you have a subsidized loan), so beginning repayment early, even in small payments, can cut down on the total interest that accrues and get you closer to paying off your loan principal. Leverage Great Lakes customer support: If you’re struggling to make your monthly payments or simply want to talk through all of your options with someone knowledgeable on the topic, Great Lakes customer support can help.

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