Student Loan Review: legit or Scam?

A truism is that the biggest challenge that students face today is how to sponsor themselves in school. When they think about the tuition fees, accommodation, and other fees that should be paid their mind skips.

To help provide a solution to this challenge, some institutions like My great lakes have deemed it fit to give loans to students for their studies. So don’t ask whether My Great Lakes as a Student Loan Servicer is Legit or Scam because it is LEGIT.

Over the year, the record has it that My Great Lakes provide student loans to over millions of students including several parent plus loans to parents who want to support their children’s education. Interestingly, they created a system whereby the students have no problem paying the loans back. Thereby, helping students build up a credit report.


Knowing that Students have complained about this Student Loan authenticity, World scholarship forum is taking up the responsibility to bring truths and facts about MyGreatLakes. This post also provides you with answers related to this student loan servicer like.

Let’s start with “What is MyGreatLakes?”

What exactly is My Great Lakes?

The Great Lakes Higher Education Corporation is a Student Loan platform in the USA. The Scheme was founded in 1967 and has its headquarter in Madison, Wisconsin. It is one of the most prestigious nonprofit student loan companies.

With more than 1,100 lenders and 6,000 schools, students at prestigious universities with access to federal credit can study what is a stepping-stone to their bright future.

Higher education, an otherwise expensive business that families and students face, can become a simpler process as Great Lakes helps connect lenders to borrowers. The company can, therefore, grant its student clients access to Companies $244 billion through scholarships, grants, and more.

With over 8 million Customers,  Great Lake holds the Guarantees on almost 75 billion in Loans for the Federal Family Education Loan Program. Thus far, the Company has invested almost $260 Million in Students grant

Although Great Lake has its headquarters in Wisconsin, it also has many other outlets throughout the United States. These Outlets Include Indiana, Minnesota, South Dakota, Texas, and Connecticut.

Great Lakes is a major Employer of Labour for those who live around and within their Outlets and Headquarters. Throughout the United States of America, Great Lake Employs more than 2,000 People.

As a major Student Loan Servicer, since 2011, it has been ranked as #1 Servicer by the borrowers who participated in the US Department of Education Quarterly survey.

The motto of Great Lakes is: “Do what’s right!” And they do what they say with so much self-confidence.

In addition, the MyGreatLakes website and its mobile application have provided the borrower with easy access to loan information. You can also make transactions through the online portal at The whole process is just a login.

How Can I Make Monthly Payments at Great Lakes?

Online payment

If you are a federal borrower and have named Great Lakes as your service provider, you can easily make your payments online. You will need to create an account on the online portal and sign up for

Personal information such as name, date of birth, social security number, etc. you will be asked. Information about your loan can then be obtained.

You will set a username and password to log in to and you will be assigned an account. You use your debit card to organize payments and you can download the mobile application. Credit cards are not an option.

Pay by check

Immediately, You can send a check or money order to Great Lakes each month and send it by email. Of course, this requires a reminder and will take some time.


You can set up an automatic payment option so your payments will always be debited from your bank account and you will be notified. In this way, you benefit from a 0.25% interest rate cut on all direct loans that you repay. And you are unlikely to miss payments and get a fine. You can easily change the amount debited from your account by signing up.

How to Sign Up & log in to MyGreatlakes Account 

My Great Lakes is a user-friendly platform that takes into account the interests and concerns of its customers. If a student at some point feels the need to solicit or access information about their student loan, they can easily do so through the official MyGreatLakes website.

The whole process is very simple and very entertaining. The student just has to click on the registration option in the top right corner of the page to create an account on (the Great Lakes Student Loan website) and become a member of Great Lakes Student Loans online. Program. All this is done in a few seconds.

The Account Creating and Login will just take your details which include social security number and date of birth at first screen. You can enter a user ID, email address and password. At the end of the Signup, There will be a green screen saying your account is successful

With the My Great Lakes student loan account, users can take advantage of various options while dealing with financial issues, such as Repayment options, checking outstanding credit, setting up a payment plan or even calculating the total amount of the loan costs.

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The requirement to create an online account includes a person’s social security number and date of birth.

Afterward, Great Lakes credentials and settings must be verified. Once an account has been created, the transaction can be completed and the financial information displayed in a few clicks.

What is the interest Rates for Great Lakes Students Loan?

Private Student Loan companies like the Great Lakes do not fix interest rates on student loans. In fact, the United States government through Congress decides annually on the interest rates on student loans of the federal government on the basis of the financial situation of the market. Interest rates may also vary depending on the type and type of federal student loan.

Federal student loans are always fixed and remain constant for the duration of the loan, ie for the duration of the student loan.

The interest rate does not depend on the creditworthiness or ability of the borrower to repay the money or not. The interest rates depend only on whether the person’s loan is subsidized or not.

Is MyGreatlakes legit or Scam?

First,  you have doubts about the Great Lakes student loan and the widespread belief that it is a Scam. Also, it may have reached you about how Legit Great Lakes Student Loan is.

It is important to understand that My Great Lakes is a registered program of the study service provider of the federal government.

My Great Lakes works with federal loans to provide students with loans on reasonable terms and customizable payment methods tailored to their needs. So the rumor that Great Lakes student loan is misleading.

My Great Lakes is an important institution that plays an important role in the Student Loan Sector. Unlike private lenders, My Great Lakes offers loans to the federal government, eliminating the fear of high-interest rates.

The fact that he maintains his customers with federal loans, where the interest rates are set by the Congress itself, thus promises to reduce or even eliminate the possibility of an excessive interest rate. and unreasonable for student loans.

Credit ratings limit the credibility of a person to borrow money, and thus their options. The interest rates for my Great Lakes, however, do not depend on the credit rating.

In fact, credit scores are predetermined throughout the period. This effectively relieves the customers of My Great Lakes.

I will Work you through some Reviews of MyGreatLakes Students loan Servicer.

If you are a Nigerian Student and you need a loan, you can go for Smart Credit Education Loan.

MyGreatlakes Reviews 2021

Yes! many people have said a lot about Great Lakes Student Loan Servicer. The Government too has rated their activities thus far and we are here to give you a bit of those rundown.

I want to start with a Controversial Comment by a Student who signed up for the College Investor Forum thread in 2016. This is what he has to say.


The last 2 years I’ve had to take out loans to pay for school. However last semester I took the semester off as I was contemplating changing my major and I had several life issues I needed to take care of.
I just started going back to school (the semester started this week). I did not receive financial aid for this semester due to a mix of scholarships and saved up money of my own. Over the past year, I’ve been receiving numerous spam calls a day. Most are obvious scams but some have seemed legit until I further researched them.

One number that has been calling me is They tell me I have student loans due and refuse to give me any information until I give them my SSN. When I tell them I do not feel comfortable doing so unless I receive proof from them that they’re legit they get rude and refuse to say I need to act quickly before going into default.
I have not received any official piece of mail or anything stating such claims and when I bring this up I’m pretty much told that they don’t have to send such notice and that they’ll send me an email showing my statement and how to pay. The number I’ve talked to is from Great Lakes (according to anyway). My questions are:
1. Is this a scam?
2. What happens to my student loans if I’m still in school but no longer using loans?
3. Will I receive an official letter in the mail when or if my loans are due now? 
4. If this is true, what can I do if I cannot afford to pay these loans yet?

And here is a Humble Reply from the College Investor Admin. This also gave rise to another response to the earlier message from a College student.

1. Possibly. Read this post:

2. Your Federal student loans will go back into deferment if you are enrolled at least half time. Sometimes your school will notify your lender, but more likely you will need to notify your lender about your status change.

3. Yes – just make sure your lender has your correct address. A lot of times people move and don’t update their address, so that could delay you getting a letter.

4. Well, you make no payments in deferment. If you’re not in school, and can’t afford your Federal loans, switch to an income-based repayment plan, which will make your loan payment no more than 10-15% of your discretionary income.

Biggest thing to takeaway – all correspondence from your lender that matters will be sent as a letter, unless you signed up for eStatements, which they will then be delivered via secure email.

You might also find this valuable: Great Lakes Student Loan Servicing Problems

Here is a Review from another Student in the Chat Thread. I think one is a very honest one each gives big credit to the Student Loan System. You can check them out in College Investor’s thread.

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Other Ratings Include the Following:

Reviews from MyGreatLakes Website

Millions of satisfied customers have written great reviews and enjoy My Great Lakes. Customers leave opinions like:

I was really worried about student loan management because I was naive about all this kind of loan and did not even know how the Education Loan works, Great Lakes helped me to effectively manage my student loan for my degree and set my interest rate to manage.

This is another customer, who was satisfied with his experience with student loan My Great Lakes. This is what he has to say:

My first reaction when I learned that my loans could be transferred to another loan officer was:” Oh no !!! No one cares about me like her!
Great Lakes has been taking out my loans for almost five years and has always been helpful and very nice with all the changes I am constantly making in my work. The customer representatives (telephone) are patient and explain every step and every option in detail so I can get the best one. “

How can I reach the Great Lakes student loans customer service?

Great Lakes Student Loans Customer Service is happy to answer any questions you may have about the Legitimacy of My Great Lakes. To attend to all customers, the team works 24/7. This is to make sure that there are misunderstandings of any kind with regard to the My Great Lakes student loan.

There are many ways to contact My Great Lakes customer service for student loans. A person can interact with their customer service team in one of the following ways:

You can call either the + 1800-236-4300 phone number, between 9 am and 7 pm, exactly 14 hours. Customer service is available from Monday to Friday throughout the week.

Another means is to Contact Customer service online. Simply fill out the complaint form in the Contact section of the website. For people who find it easier to get in touch by email, this seems very convenient.

The response rate of the MyGreatLakes customer service team has been quick and efficient.
This is because MyGreatLakes core values are providing the best student loan options in financial difficulty.

Regardless of what an individual has heard from the masses, it is imperative to do their own research on this topic and to determine for yourself which student loan suits his needs and which loan would be most advantageous. affordable and viable for you.

How to avoid student loan scams 

Now for those other Scam mailings that you receive regularly.

Some Student Loan companies will do everything in their power to get your money, including suggesting you do things that you could do yourself (such as signing a refund based on income) or make stupid promises to clear your student debt.

If you do not know if an Email you received is a scam, you should ask the following questions.

Do the company want your money?
Do you charge application fees for the consolidation of your loans or a monthly payment for the termination of your loan? Stop there.

Do they make unrealistic promises?
For example, do they tell you that they can give your loan? The federal government has set up programs for the allocation of student loans, which, however, all meet very stringent qualification requirements and their development can take decades.

Do they want your personal data?
Do they demand your account number, your FSA number or even a power of attorney? Your trusted lender already has all the information they need.  Do not share your information with scammers.

If Great Lakes is your loan officer, you can quickly find it by going to My Federal Student Aid or the NSLDS database, or by calling them.
If you know your loan service provider, you know which emails to open and which emails need to be discarded. Are you still snacking on this student loan? See how much you can save by refinancing.

MyGreatLake Loan Repayment

With all the complicated calculations and considerations, it can be difficult to determine the correct repayment plan for you. The Great Lakes repayment planner, which you can access through your mygreatlakes signup account, allows you to view and list all available credit and repayment options.

MyGreatLakes Student Loan Scheme is Legit from all Indication. Don’t fear to borrow from the system. I will leave you with a choice. Kindly Communicate how you feel about this post in the comment box below and get rewarded with more details.

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However, you can change the date of your payment. just log in to, if you haven’t already, and select a new payment due date for your eligible Great Lakes loans once your payment is not due yet. If your account is past due, contact the site for more information.

How payments applied to student loans

How payments are applied to student loans revolves around a number of factors. In most cases, payments are applied first to any accrued interest and fees, then to your principal balance. Check out How Payments Are Applied for different scenarios that may apply to your situation.

Payments must be applied first to interest and fees, then to loan unpaid balance. This means that only the amount that exceeds interest and fees owed is applied to the unpaid balance. There are common situations in which all, or most, of your payments will be applied to interest and fees.

For example, when you’re on a Graduated repayment plan if you’ve missed or skipped a few payments and then make a payment, if you’re on an income-driven repayment plan, or if you don’t make a payment within 30 days of entering repayment. Find out more about how payments are applied.


Your student loan interest information is available on Your 1098-E statement for the previous tax year is first available in January. Select My Accounts > Tax Filing Statements to access it.

You can reach Great Lakes for general correspondence through their post office box:

Great Lakes
PO Box 7860
Madison, WI 53707-7860

Or call the representative on (800) 236-4300 to get more information. And you can also communicate directly with Great Lakes online by emailing them at

You’ll also receive an email notification when new student loan interest information is available. Student Loan FAQs

How do I sign up for account access on

It is very fast, easy to Set up your login information. Click sign up at the top of any page to get started. Account access on is available to anyone with a student loan serviced or guaranteed by Great Lakes.
Once you’ve completed the signup process, you can log in anytime to view information about your loans and the repayment options available to you.

I'm having trouble logging in. What should I do?

Don’t worry—it happens to all of us at one time or another. If you forgot your user ID, password, or PIN, or if you’re receiving an error message, follow the steps on Trouble Accessing Your Account.

How can I contact Great Lakes?

We’re here to help you manage and successfully repay your student loans whenever you need us. With a wide range of contact options available to suit your preferences, Great Lakes is just an email, letter, or phone call away.
Click Contact Us, available on every page of, to get started. Remember, you can also access a variety of self-help resources on to get the information you need 24/7.

Can I make payments on my loan while I'm in school, and how is my money applied?

Yes. If you can afford it, making payments while you’re in school is a great way to reduce the amount you will owe in the long run. Find out more about how payments are applied and the ways to make a payment (online, using our mobile app, by phone, etc.).

How do I change the date that my payment is due?

Log in to, if you haven’t already, to select a new payment due date for your eligible Great Lakes loans. If your account is past due, contact us for more information.

In Conclusion

It is a vital thing to do when you know how to pay you a loan whether as a student or comapany although it can be overwhelming at times.

If you have student loans with Great Lakes, you’re one of the millions of individuals taking the first steps in mastering personal finance for college grads. After reading this article, hopefully, you feel better prepared to pay off your debt, address potential problems that may arise, and reach out for help when you need it.

Just like a college degree can open up new windows of opportunity, the knowledge and habits gained from paying off your student loans can positively shape your financial future as well.

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