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Have Questions About Your Transferred Federal Student Loan?

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You may have recently been notified that your loans were transferred to Great Lakes. We know you may have a lot of questions, so we pulled together some common questions and answers to guide you through the transfer process.

Who is Great Lakes?

Great Lakes is a student loan servicer who was chosen by the U.S. Department of Education (ED) to service your federal student loans. We keep you up-to-date with information about your loans and help you manage paying them back. As your servicer, we are your primary point of contact for questions about your loans.

It's possible you have other student loans serviced by another servicer. You can find out which loans Great Lakes services by creating an account on our website and logging in to view your Account Summary. To view all of your federal loans, including those with other servicers, visit the National Student Loan Data System (NSLDS). Your account in NSLDS should be updated to reflect your updated servicer information within 7 to 10 days after your loans are transferred.

Why were my loans transferred?

ED contracts with several servicers, like Great Lakes, to help students like you successfully manage your loans. ED chose us to service your loans. Depending on how many loans you have, you might still have loans with another servicer.

Is there anything I need to do?

The best thing you can do is sign up for account access if you haven't already. It's the easiest way to access your account balance and interest rate, estimate and make payments, review assistance options, and maintain your current contact information. If it's your first time on our website, there are lots of resources available for you.

You also need to make sure you're making payments to Great Lakes going forward so we can apply them to your account. Signing up for Auto Pay with Great Lakes is a great way to manage your student loans. If you were using a bill pay service to pay these loans with your previous servicer, be sure to adjust your settings to have the payments sent to Great Lakes.

Why does my old servicer still show that I have the same loan account with them?

It takes a little time for everyone to update their system. For a few days, it may look like you have the same loan with both your old servicer and with Great Lakes. Please be patient while everyone's records are updated.

Seven to ten days after your loan transfer, you can log into NSLDS to view all of your loans. This will help you keep track of how much you owe, who to send payments to, and who to contact with questions.

What happens to the payment I recently sent to my previous servicer?

Any payments that you made to your previous servicer will be forwarded to us so we can apply them to your account and backdate them to the date your servicer received the payments. It may take a few weeks for all of your payments and paperwork to process, so please be patient.

Did the transfer affect my repayment plan?

No, the transfer does not change your repayment plan. The only change is that you now need to make your payments to Great Lakes.

What if I had automatic payments or bill pay set up with my previous servicer?

Automatic Payments

If you had automatic payments set up with your previous servicer, your automatic payment information most likely transferred and you don't need to do anything. The table below explains each situation. To verify if your accounts transferred, log in to view your Account Summary.

You had automatic payments set up with your previous servicer and you have... Now with Great Lakes you need to...
No loans with Great Lakes that are in repayment. Do nothing—your automatic payment information transferred and your monthly loan payments will be withdrawn automatically with Great Lakes Auto Pay.
Loans with Great Lakes in repayment that are on Auto Pay. Do nothing—your automatic payments from your previous servicer will be added to the Great Lakes Auto Pay that you already had set up.
Loans with Great Lakes that aren't on Auto Pay. Sign up for Great Lakes Auto Pay to begin making automatic payments.

Great Lakes Auto Pay is easy to use and it's free. Your lender may even offer you an interest rate reduction when your payments are made through Auto Pay. Set it up now.

Bill Pay

If you are using a bill pay service, you must update the information to begin making payments to Great Lakes. You can find all of the information you need on your payment schedule.

Does the transfer change the terms of my loan?

No. Your balance, interest rate, and time you have to repay your loan have not changed because of the transfer.

Does the transfer affect my eligibility for forbearance, deferment, or forgiveness?

Your loan status (such as in school, repayment, or deferment) was transferred with your loans so any deferment, forbearance, or forgiveness options you were eligible for did not change. It may take a few weeks for us to receive all of your information, but we will contact you about any next steps that you need to take.

Who will send me my 1098-E?

We will send you a 1098-E for the interest you paid to us after the transfer. Your previous servicer should send you a 1098-E for the interest you paid while they serviced your loans. If you add the totals together, you can determine the total interest you paid for the year.

Who do I contact for help?

If you have additional questions, you can contact us at any time—we're here to help.

Get in Touch

Do you have questions or want to give us some feedback? Log in, and visit our Contact Us page to contact a representative or to send us your thoughts.

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