Student Loan

Featured Student Loan Article

Student Loan

´╗┐Great Lakes Student Loans

Great Lakes student loans are considered by many to be some of the best managed student loans, ensuring that the application process, loan management and repayment options are all correctly matched to the student and his or her individual needs. Great Lakes student loans are provided by the Great Lakes Higher Education Guaranty Corporation, which is one of the largest lenders in the Midwestern United States. They have been approved by the National Association for College Admissions Counseling (NACAC), which means that individuals taking out Great Lakes student loans can be assured that they are dealing with a reputable and reliable company.

The biggest benefit to Great Lake student loans is that they offer the complete service and loan process in house, no outsourcing or third party management of the loans or the loan application process. Students or borrowers can work with one individual throughout the entire life of Great Lake student loans and don't have to worry about dealing with a new company every few years as the loan is sold or transferred. This company prides itself on person service and flexible options for students both during their education as well as in the repayment period after they have graduated.

Like with most lenders, Great Lakes student loans are all accessible online through their secure website 24 hours per day, any day of the year. In addition to just providing access to your current statement, payment and borrowing information, they also provide online calculators that can help students determine the benefits of paying interest only, deferring payments or even in early payment of the loan. There is no fee associated with the use of these online tools nor is early payment of a student loan penalized or charged.

If students would prefer to work with a counselor or financial planner, Great Lakes Higher Education Guaranty Corporation provides information through Admissions Counselor or through school based programs to ensure that students completely understand the loan process and their options throughout their educational career. With this personalize and flexible service the company is able to work with students to prevent problems that can arise when students are not informed about their loan payment options.

Through the corporation there are different types of student loans offered, and like any private lender they recommend that students first get all the scholarships, grants and federal loans possible, then use private loans as a bridge or supplement to balance their education budget. Restrictions on what a student can use the student loan money for are the same as any other lending institute.