Your Payment Schedule and Disclosures (payment schedule) provides details about the repayment terms of your federal student loans serviced by Great Lakes. Think of it as a plan for paying back your loans. You'll find information about your monthly payment amounts and dates, who your lender is, and what repayment plan you're on.
Each of your student loan accounts—which you can view in your Account Summary—has a corresponding payment schedule. Only one payment schedule is active for each account, so if you receive a new payment schedule for one of your accounts, it replaces the old one. You'll receive a new payment schedule when certain account conditions change, such as:
You're about to begin repayment.
Your repayment terms have changed.
You're about to come out of forbearance or deferment.
A new loan has been added to the account.
If you're unable to make the payments outlined in the payment schedule, you can reduce or postpone your monthly payment amount through special repayment options.
Learn more by reviewing our easy-to-follow electronic schedule, then log in to view your own payment schedule. Or tour the paper payment schedule, which you may have received in the mail. Please note that your actual payment schedule may vary from the examples shown.
Account Information
This is where you'll find the type of loan you have, your lender's name, and your account number.
Repayment Terms
Find out what your monthly payment is and when it's due. This section also tells you what repayment plan you're on and how many payments you'll make over the life of your loan.
Terms and Conditions
In this section you'll find important details that you should know and understand about repaying your student loans.
Account Details
Your lender's name is shown here, along with your loan type and repayment plan.
Loan Summary
Find information here about each of the loans in your account, such as Principal Balance and Annual Interest Rate. Remember, you might have more than one account. In that case, you'll also have more than one payment schedule.
Total Amount to be Repaid
This section gives you a detailed picture of your loan costs based on your repayment plan. For example, line d shows you the amount you owe on this account as of your repayment start date. Line f shows you an estimate of the total long-term cost of your loan.
Repayment Terms
This is where you'll find your monthly Payment Amount. The Payment Due Date tells you when your first payment of that amount is due.
Useful Details
This section provides a lot of valuable details, like information about Prepayment and Late Charges.
Summary of Your Lender's Incentives
This section lists incentives your lender may offer, such as for on-time payments or Auto Pay. You might also receive separate communications from us about other incentive programs your lender offers.
Contact and Payment Information
This is where you'll find our website address and telephone number, along with information on how to make a payment.
