Do i need to Prefer Higher Ponds once the an excellent Servicer?

In case your student loan are acquired, you would not be able to prefer the servicer. Rather, you’re partnered that have a beneficial servicer via the bank and you can that servicer will try to be this new liaison ranging from you and the financial institution. High Ponds features one another government and personal figuratively speaking and you will really works that have 6,000 schools and you can colleges. The organization including performs personally on the DOE.

What to anticipate In the event the Paired with Higher Ponds

Great Lakes provides borrowers with an outstanding customer service experience by way of their established payment options and emphasis on customer service and satisfaction. The goal of Great Lakes is to create and ensure a successful pathway to repayment for their clients. Great Lakes not only oversees and manages the loans, but they also help educate borrowers by offering a myriad of online financial tools.

Additionally, Great Lakes offers customer support via social media. Those who have questions about student loans or are simply looking for general information can ask questions on the Great Lakes Twitter or Facebook pages. However, be sure to only discuss sensitive or account-specific questions via a secure message or telephone call.

Higher Lakes along with makes the actual payday loans with no credit check North Dakota fee techniques effortless by offering an enthusiastic autopay solution, which have text notice to assist individuals always shell out timely. Higher Lakes might work on borrowers to lessen repayments of the allowing fee plan changes otherwise pausing repayments in times away from monetary hardship just in case you meet the requirements.

Great Ponds Education loan Cost Agreements

• Important Cost: The loan is paid back over the course of 10 years or 120 payments. The loan has a standard amount that is paid monthly.
• Graduated Installment: Monthly payments will begin at a lower amount and increase every 24 months. This may be a good option for those who anticipate an increase in earnings as they navigate their careers. One thing to consider with this plan is that payments made in the beginning go toward paying the interest only and not toward the principal.
• Offered Cost: This option is for anyone who has loan amounts in excess of $30,000 in either FFELP or Direct Loans. These plans allow for repayment over the course of 25 years as opposed to 10. This is a good choice for those who may need a lower monthly rate than what is available through the standard repayment plan. Both a standard and a graduated payment plan are available.
• Income-Passionate Installment: As the name suggests, income-driven repayment plans are based on income. As one’s income increases, so does their monthly rate. Additionally, borrowers under this repayment plan will need to keep their income and family size updated annually to ensure ongoing qualification.

User Reviews of great Ponds

While no organization or company is always going to have only five-star customer reviews, there are some variables to consider when looking at the consumer reviews for Great Lakes. Great Lakes does maintain an A+ rating with the Better Business Bureau, which is no small accomplishment.

Next, High Lakes is just one of the biggest education loan servicers, and strive to include borrowers making use of the units they require to efficiently pay-off their college loans. With enjoys for example autopay, on the web membership accessibility and you may management, customer care both on the internet and into the social media, and you will a determination to utilize their borrowers to be certain they is actually adopting the correct payment alternative, Higher Lakes has made an effort to make certain a fantastic consumer service feel.

Moving forward with Great Lakes

If you have taken out a private or federal student loan, there is a good chance that you have dealt with Great Lakes. As an intermediary between lender and borrower, Great Lakes has attempted to provide its customers with the knowledge and tools they need to ensure a successful track to repayment.