Great Lakes Student Loans: Financing Your Education

Did you know that millions of accounts began moving from Great Lakes to Nelnet starting March 2022, with transfers wrapping up in mid-2023? I learned this can change how I access my federal student loan account and manage payments right now.

The switch means I may get a new federal student loan account number and up to 120 days of payment forwarding. That helps avoid missed payments while I set up a new online portal and autopay.

I also see private options tied to Great Lakes Credit Union through Sallie Mae and LendKey. Those education loan partners often offer competitive rates, multiple repayment choices, no origination fees, and a 0.25% autopay discount—useful if I need extra funds for college beyond federal aid.

What I plan to do is save statements, confirm my new account number, enable autopay if it lowers my rate, and watch my credit for errors during the transfer. If anything looks off, I’ll contact servicer support and check my credit report promptly.

Key Takeaways

• Account servicing moved to Nelnet between Mar 2022 and Jun 2023; expect a new federal account number.
• Borrowers get 120 days of payment forwarding to ease the transition.
• Private education loan options come via Great Lakes Credit Union with Sallie Mae and LendKey.
• Look for autopay discounts, multiple repayment plans, and no origination fees on private loans.
• Save statements, set up your new portal, and monitor credit reports for errors after the switch.

Where Great Lakes stands today: servicer changes, ownership, and identity

I tracked how ownership and servicing shifted so I could know who manages my loans today.

From Great Lakes Higher Education to Nelnet servicing: what changed

Great Lakes was acquired by Nelnet in 2018, but the portfolio transfer to Nelnet began in March 2022 and ran through June 2023.

I received a notice about two weeks before my account moved and then a confirmation with a new account number from Nelnet.

Servicing tasks that shifted include billing, statements, payment processing, and customer support. My repayment terms and federal student benefits stayed the same.

Ascendium’s current role in education beyond high school

Ascendium now focuses on programs that support training and education after high school instead of direct servicing.

The U.S. Department assigns servicers when loans are disbursed. I can confirm my servicer via My Federal Student Aid or by calling 1-800-4-FED-AID.

• What I expect: timely notices, a new account number, and a short payment-forwarding window.
• What I do: save statements, update contact info, and confirm servicer on studentaid.gov.

Who	Role	Key change	Action for me
Great Lakes	Former servicer/brand	Portfolio ownership moved under Nelnet	Keep prior records and notices
Nelnet	Current servicer	Handles billing and support	Set up online account and autopay
Ascendium	Education program funder	Focus on postsecondary training	Look for grant and program opportunities

great-lakes-student-loans transfer to Nelnet: what I need to know now

I got clear notices about my account move and learned the exact steps to keep my payments uninterrupted. I saw one notice about two weeks before transfer and a confirmation after Nelnet completed the change.

Expected notifications include your new federal account number from Nelnet and instructions to register on nelnet.com/welcome. Great Lakes forwarded payments for at least 120 days, so payments sent to the old processor still post while I switch my settings.

Setting up my Nelnet profile and payment preferences

I created a Nelnet online account, picked a payment date, and verified the amount to draft each month. I enrolled in autopay to get a 0.25% interest rate reduction and chose how extra funds apply—always instruct Nelnet to send extra payments to principal if that is my goal.

Protecting records: download history and update contact info

I downloaded my full payment history from my old account for taxes, forgiveness records, and disputes. Then I updated my address, email, and phone so I don’t miss time-sensitive notices or statements.

• Watch for two notices: pre-transfer and post-transfer with your new account number.
• Use the 120-day forwarding window to avoid missed loan payments while switching portals.
• Download payment history, confirm amounts, and update contact details immediately.
• Check credit reports; contact support quickly if anything looks wrong as a borrower.

Item	What I do	Why it matters
Pre/post notices	Save both letters and new account number	Avoid payment errors and confirm servicer
Payment forwarding	Continue payments without interruption	120-day safety net for misrouted payments
Online setup	Register at nelnet.com/welcome and enroll in autopay	Simplifies payments and can lower interest
Payment history	Download full records from prior service	Proof for forgiveness, disputes, and taxes

Managing repayment with Nelnet: programs, payments, and interest

I mapped out how Nelnet posts payments, credits extra amounts, and manages pauses so I can keep my balance on track.

Autopay benefits

I set up autopay with Nelnet to get a 0.25% interest reduction. Autopay makes my monthly payments predictable and reduces interest over the life of the student loan.

“Enrolling in autopay helped me lower interest and avoid missed payments.”

Income-driven repayment and recertification

I review income-driven options and submit requests or annual recertification at studentaid.gov. Nelnet can accept paper forms, but recertifying online keeps my payment amount accurate and avoids surprises.

Deferment, forbearance, and avoiding default

If I face short-term hardship, Nelnet processes deferment or forbearance, but interest can still accrue. I use pauses strategically and call Nelnet early to prevent default.

How extra payments are applied

I tell Nelnet to apply extra funds to my current principal. That reduces future interest and shortens repayment. I regularly check my online account to confirm how loan payments post.

• Keep approval letters, plan confirmations, and payment proofs.
• Review statements monthly and reconcile posted payments.
• Revisit my repayment plan yearly to match my income and goals.

Action	Why it matters	Where to do it
Enroll in autopay	0.25% interest savings and predictable payments	Nelnet online account
Apply/recertify for IDR	Payment based on income and family size	studentaid.gov
Request deferment/forbearance	Temporary relief; interest may accrue	Nelnet customer service

Credit reporting issues during COVID forbearance: what I should check

I wanted to confirm whether the pause in payments was logged correctly on my credit reports. Nearly 5 million borrowers with Great Lakes had paused payments during the automatic COVID forbearance and some accounts were mistakenly coded as deferred.

“Deferred” vs. “current” and scoring impacts

Deferred status usually doesn’t factor into FICO scoring, but it can lower a VantageScore. I compare both scores if I monitor credit through different services.

Steps to fix errors: check reports and contact Great Lakes

First, I pull all three bureau files at AnnualCreditReport.com to verify how my student loan accounts appear in my history.

• I gather proof I was current before forbearance so I can dispute mistakes fast.
• I contact Great Lakes at 800-236-4300 if an account still shows the wrong status and keep records of calls and dates.
• I watch for updates to ensure corrections reach the bureaus and my credit rebounds.

“If my credit was affected, I document everything—letters, screenshots, and updated reports—so I can show lenders or a department education office if needed.”

Action	Why	Where
Check reports	Confirm loan status	AnnualCreditReport.com (website)
Gather documentation	Support disputes	Personal records and statements
Call servicer	Request bureau corrections	Great Lakes office: 800-236-4300

Private student loan options linked to Great Lakes Credit Union

I reviewed two private paths offered through my credit union so I could borrow only the amount I need for college.

Sallie Mae partnership highlights

Sallie Mae loans through the credit union often show competitive interest rates and several repayment choices.

There is no origination fee and no prepayment penalty. Loans are made by Sallie Mae Bank or partner lenders, and the credit union is paid for referrals.

LendKey features

LendKey lets me apply in under five minutes and borrow as little as $2,000.

I can get a 0.25% rate reduction when I set up recurring monthly payments. LendKey covers qualified college costs like tuition, housing, books, and computers.

Co-signer and release criteria

A creditworthy co-signer can improve approval odds and lower pricing, but they share equal responsibility for the loan.

Some lenders allow co-signer release after a history of on-time payments and meeting lender criteria.

• I compare rates, fees, and terms before I choose an education loan program.
• I keep all disclosures and approval letters in one office file to track payments and services.

Provider	Key benefit	Min amount / perk
Sallie Mae	No origination fee; multiple plans	N/A / competitive rates
LendKey	Fast apply; 0.25% recurring-pay reduction	$2,000 min / covers college expenses
Co-signer	Better approval and pricing	Possible release after on-time payments

“I weighed private choices carefully so my long-term costs and benefits matched my goals.”

Help and escalation: who I contact for service, disputes, and complaints

I keep a short list of escalation steps so I can resolve payment or account disputes fast. Having contacts and a simple file of records saved me time when I needed help with a loan or a posting issue.

Nelnet customer service for former Great Lakes borrowers

I call Nelnet at 888-486-4722 for account questions. Hours are Monday 8 a.m.–9 p.m. ET; Tue–Wed 8 a.m.–8 p.m. ET; Thu–Fri 8 a.m.–6 p.m. ET.

Their mailing address is P.O. Box 82561, Lincoln, NE 68501-2561. I can also use the online form at nelnet.com/welcome or message via Nelnet Facebook and Twitter for general inquiries.

When to escalate: FSA Feedback and the Ombudsman

If Nelnet can’t resolve my dispute, I use the Federal Student Aid Feedback System first. For persistent issues I contact the FSA Ombudsman Group at 877-557-2575 or mail: U.S. Department of Education, FSA Ombudsman Group, P.O. Box 1854, Monticello, KY 42633.

“Document every call, save screenshots, and send tracked mail so you can prove timelines if a correction is needed.”

Issue	First step	Escalation
Payment posting	Call 888-486-4722; save confirmation	FSA Feedback → Ombudsman
Account status or program error	Upload docs via Nelnet form	Ombudsman at U.S. Department of Education
Unresolved dispute risking default	Document calls; request written decision	Escalate to Ombudsman; keep tracked mail

• I document calls, dates, and outcomes so follow-ups are clear.
• I check enrollment, deferment, or forbearance changes promptly to avoid default.
• I only share sensitive info through official forms and the office channels listed above.

Conclusion

My final takeaway centers on staying organized as my federal service moved and private options shift.

I confirm my new account, check statements, and make sure payments post to avoid missed balances or default.

I plan repayment by reviewing income-based choices at student aid sites and tracking recertification on studentaid.gov.

For private borrowing through my credit union, I weigh rates, interest, co-signer needs, and loan terms before I sign.

I keep key contacts handy—Nelnet, the U.S. Department education office, and the FSA Ombudsman—so I can escalate quickly.

Finally, I revisit my budget and repayment plan regularly so my college goals stay affordable and my loans stay on track.

FAQ

What changed when servicing moved from Great Lakes Higher Education to Nelnet?

When Nelnet took over servicing, the company became responsible for billing, customer service, and account maintenance. I received notices about the transfer and a start date for Nelnet to accept payments. The loan terms set by the U.S. Department of Education and original loan holder didn’t change, but my payment address, online portal, and support phone numbers did.

How will I know if my account number or payment window changed after the transfer?

I should get mailed and emailed notifications with any new account number and the exact dates when Nelnet begins processing payments. There’s often a short payment-forwarding window where either servicer will accept payments. If I don’t see a notice, I log in to the new Nelnet portal or call customer service to confirm my account details before sending payments.

How do I set up a new Nelnet online account and choose payment preferences?

I go to Nelnet’s website, create a secure account with my borrower information, and link my loan(s). From there I enroll in autopay or manual payments, choose payment dates, and add bank info. Autopay enrollment typically triggers a 0.25% interest rate reduction on federal loans if offered, so I consider that option for steady savings.

What should I download and update to protect my loan records before or after the transfer?

I download my payment history, promissory notes, and any payoff statements from the old servicer while they’re available. After the transfer I update my contact information, email, and bank details in the Nelnet portal. I also save copies of transfer notices and confirmation emails for my records.

How does autopay work and what are the benefits?

Autopay automatically deducts my monthly payment from a linked bank account on a set date. The main benefit is convenience and on-time payments; many servicers, including Nelnet, offer a 0.25% interest rate reduction for enrolling, which lowers interest accrual and saves money over time.

How do income-driven repayment plans and annual recertification work through Studentaid.gov?

Income-driven plans set payments based on my income and family size. I apply and recertify each year at Studentaid.gov. During recertification I submit current income documents so my monthly payment can be adjusted. If I miss recertification, my payment usually increases to the standard amount and unpaid interest may capitalize.

What are my options for deferment, forbearance, or avoiding default during hardship?

I can request deferment or forbearance through Nelnet if I qualify due to unemployment, illness, or other hardship. Income-driven plans and temporary relief programs may also lower payments. To avoid default I communicate early with my servicer, submit required forms, and consider alternate plans instead of stopping payments without approval.

If I make extra payments, how are they applied to my balance and future bills?

When I make extra payments, I instruct Nelnet how I want them applied—typically to principal, interest, or future payments. Without instructions, payments usually go to accrued interest first, then principal. Applying extra dollars to principal reduces total interest and can shorten repayment.

How did COVID forbearance affect credit reporting, and what should I check now?

COVID forbearance paused required payments for many federal loans. I should check whether my loans show “deferred” or “current” on credit reports. VantageScore and FICO treat statuses differently, so I review both reports and ensure the servicer labeled accounts correctly after the pause ended.

What steps do I take to correct credit-reporting errors after forbearance?

I pull my credit reports from the three bureaus, identify errors, and file disputes with each bureau. I also contact Nelnet to request corrected reporting and provide supporting documents, like forbearance notices. If necessary, I escalate to the U.S. Department of Education or CFPB for unresolved issues.

What private loan options are available through credit unions or partners like Sallie Mae?

Some borrowers can refinance or obtain private loans through credit unions or lenders such as Sallie Mae. These options vary in rates, fees, and borrower responsibility. I compare APRs, repayment terms, and whether cosigners or origination fees apply before switching from federal benefits.

How does LendKey work and what perks might it offer?

LendKey partners with community lenders to offer private education loans and refinancing. Benefits can include fast application processing, competitive rates, and potential rate reductions for autopay or strong credit. I check eligible expenses and terms to see if LendKey fits my needs.

When should I consider a co-signer and how does co-signer release work?

I consider a co-signer if my credit or income doesn’t qualify me for the best private rates. Co-signer release lets them be removed after I meet on-time payment and credit criteria for a set period. Terms vary by lender, so I examine eligibility requirements before applying.

How do I contact Nelnet customer service as a former borrower of Great Lakes?

I use Nelnet’s website for secure messaging, call their customer service number, or use online chat where available. Hours and channels are listed on Nelnet’s contact page. I keep my account number and transfer notices handy to speed up help.

Where do I file complaints or get help from the FSA Ombudsman Group?

If I can’t resolve service or dispute issues with Nelnet, I file a complaint with the Consumer Financial Protection Bureau (CFPB) or contact the Federal Student Aid (FSA) Ombudsman Group for mediation. The Ombudsman helps with loan disputes and can guide options without replacing formal appeals.