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Discover honest Great Lakes student loans reviews from real customers in 2024. We analyze ratings, common complaints like billing errors and poor service, and share tips for better loan management plus top alternatives to consider for your financial future.
Quick Pick: Best Personal Loan Alternatives
Looking for reliable options beyond Great Lakes? Check our expert-ranked Best Personal Loans of 2024 for top providers that prioritize customer satisfaction and flexible terms.
Student loan servicing can make or break your financial peace of mind, especially when dealing with companies like Great Lakes Educational Loan Services. Once a major player handling loans for the U.S. Department of Education and private lenders, Great Lakes was acquired by Nelnet in 2018. Today, it no longer takes on new loans but continues to service existing ones during the transition period. Our deep dive into customer feedback reveals an overall rating of 1.3 out of 5 stars based on 128 verified reviews, with only 10% of borrowers recommending them.
This low score stems from recurring issues that frustrate borrowers daily. In this guide, we'll break down the key themes from real customer experiences, highlight pros and cons, and offer actionable advice to navigate your student loans effectively. Whether you're currently with Great Lakes or considering options, this data-driven analysis will help you make informed decisions.
Borrowers consistently report challenges that impact their financial health. Here's a snapshot of the most common feedback:
On the brighter side, about 5-7% of reviews (mostly 4-5 stars) praise occasional standout reps who went above and beyond, like expediting forbearance approvals or clarifying complex terms.
To put Great Lakes in context, we compared it to other servicers based on aggregated customer ratings, response times, and feature availability (data from borrower surveys and public reports as of 2024):
| Feature/Servicer | Great Lakes (1.3/5) | Nelnet (2.1/5) | Typical Top Servicer (e.g., 4.0+/5) |
|---|---|---|---|
| Avg. Hold Time | 45-60 min | 30-45 min | Under 15 min |
| Payment Error Rate | High (25% reports) | Medium (15%) | Low (<5%) |
| Online Portal Rating | 2.2/5 | 3.1/5 | 4.5/5 |
| PSLF Support | Poor | Fair | Excellent |
| Mobile App Usability | Basic, glitchy | Improved | Intuitive & Feature-Rich |
| Recommend % | 10% | 25% | 80%+ |
This table underscores why many borrowers seek switches—top servicers offer faster resolutions and better tools, reducing daily stress.
Pros:
Cons:
Our Take: Great Lakes suits low-maintenance borrowers with stable finances but falls short for anyone needing flexibility or quick help. Score: 2/5 for reliability.
Check out Regional Finance Reviews 2024 for more servicer comparisons.
Drawing from hundreds of accounts, patterns emerge:
These anecdotes reflect broader trends: 85% of 1-star reviews cite "unprofessionalism," while positives often name specific individuals.
Tip: Document everything—screenshots, call logs, and emails. This empowers disputes via the Federal Student Aid Ombudsman.
For personalized advice, dive into Vanderbilt Finance Reviews 2024.
With $1.7 trillion in U.S. student debt, servicer quality affects millions. Poor service amplifies mental health strain—studies link it to 20% higher anxiety levels. Opt for servicers scoring 4+/5 for peace of mind.
Complete Your Financial Setup
Yes, but only for existing loans during the Nelnet transition—no new accounts.
Poor customer service, payment errors, and delays in forbearance/PSLF processing dominate reviews.
Federal loans may qualify for reassignment; private refinancing is another route for better terms.
Nelnet scores slightly higher (2.1/5) with improved tools, but inherited issues persist for some.
Use their online portal first, then call 1-800-236-4300 early mornings for shorter waits.
Yes—explore our best personal loans guide for vetted alternatives with superior ratings.
