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To qualify for Great Lakes/Nelnet student loan forgiveness, you’ll need to switch from your current repayment plan to an IDR plan. Under an IDR plan, your monthly payments will be capped at 5% to 20% of your discretionary income for 10, 20 or 25 years.
You can change student loan servicers only when you consolidate your loans or apply for Public Service Loan Forgiveness.
The Biden-Harris Administration today is announcing that it will automatically discharge $1.2 billion in loans for nearly 153,000 borrowers who are eligible for the shortened time to forgiveness benefit under President Biden’s Saving on a Valuable Education (SAVE) Plan.
Nelnet and Great Lakes, which are part of the same company and collectively service federal student loans for approximately 13 million student loan borrowers, may no longer service...
Today’s announcement brings the total loan forgiveness approved by the Biden-Harris Administration to $167 billion for 4.75 million Americans. Thanks to this Administration’s efforts more than one out of every 10 federal student loan borrowers has now been approved for some debt relief.
The Supreme Court blocked the one-time debt relief plan (you may also know this as the forgiveness of up to $20,000 for Pell Grant borrowers). But you may be able to get help repaying your loans, including full loan forgiveness, through other federal student loan programs.
Biden announced on Wednesday that most federal student loan borrowers will be eligible for some forgiveness: up to $10,000 if you didn’t receive a Pell Grant, which is a type of aid...
The PSLF Program allows you to receive forgiveness of the remaining balance of your Direct Loans after you have made the equivalent of 120 qualifying monthly payments under an accepted repayment plan while working full-time for an eligible employer.
How do I make my student loan payments with Great Lakes? In October, the pause on federal student loan payments is scheduled to end. At that point, you can make payments on your...
How To Repay Your Great Lakes Student Loans. To repay your student loans that were once with Great Lakes and are now with Nelnet, you can pay: Online or by phone.