July 6, 2015 [redacted] ** [redacted] Complaint ID: [redacted] Great Lakes ID: [redacted] ... Dear Mr. [redacted] : Thank you for contacting us on behalf of Ms. [redacted] and for providing us the opportunity to address her concern regarding the issues she has experienced with the processing of her Income-Driven Repayment plan and her interest capitalizing. After receiving Ms. [redacted] ’s concern we reviewed our records which indicated that she seems to have resolved her concern during a follow-up conversation with our Borrower Services Department on July 1, 2015. Our records also confirmed that the capitalized interest Ms. [redacted] referenced has been reversed. At the present time, Ms. [redacted] ’s account is in an Income-Based Repayment plan. Based on her income and family size, her monthly payment is $222.76, with her next payment being due by August 9, 2015. Please note that if she would ever like to discuss alternative repayment or assistance options, we would be happy to work with her to find an option that best fits her current situation. If Ms. [redacted] has any additional questions or concerns, she may contact our Borrower Services Department by phone at ###-###-####, through email at [redacted] , or by mailing: Great Lakes [redacted] Sincerely, Aimee S [redacted] Great Lakes Educational Loan Services Inc.
[redacted] Lead Trade Practice Consultant Revdex.com of Wisconsin W Greenfield Ave #Milwaukee WI Complaint ID: Great Lakes ID: [redacted] Dear Ms [redacted] Thank you for contacting us on behalf of MrDavid B [redacted] and for providing us the opportunity to address his concerns regarding his loan that had been guaranteed by Great Lakes Higher Education Guaranty Corporation (Great Lakes) and was recently paid in full via Administrative Wage Garnishment (AWG)Your request has been forwarded to our office for review and responseMrB [redacted] ’s concern as we understand it is that he had multiple payments taken via AWG after the loan had been paid in full To begin, we would like to apologize for the payments that have been inadvertently taken from MrB [redacted] ’s paychecks via the AWG We are happy to report that Great Lakes’ Collection Support Department has been in contact with MrB [redacted] and they are working directly with him toward a resolution In fact, they report that the AWG payments are in the process of being refundedWe encourage MrB [redacted] to continue working with Great Lakes We again sincerely apologize for the frustration MrB [redacted] has experienced And, we again thank you for contacting us and for giving us an opportunity to be of assistanceIf additional information is required, please by all means, contact usYou can reach our office between 7:am and 4:pm Monday through Friday at 866-486-7140, or by email at [redacted] Sincerely, Joe Jilek Ombudsman Specialist
Thank you for contacting us on behalf of MrCurt [redacted] and for providing us the opportunity toaddress his concerns regarding the status of his Parent PLUS loans with the U.SDepartment ofEducation and the customer service issues he experienced.As Mr [redacted] ’s inquiry had multiple issues that needed to be addressed, we reached out tohim directly and requested that he contact a Specialized Account Manager so that we couldaddress his concernsAccording to our records, Mr [redacted] contacted us on February 3, 2016and we were able to discuss and resolve his concerns.We wanted to thank Mr [redacted] for giving us the opportunity to assist him and for his feedback,which we forwarded to the appropriate parties for review and coaching purposes.We genuinely apologize for the frustration Mr [redacted] experiencedMoving forward, if he hasany additional questions or concerns, he may contact a Specialized Account Manager directly bycalling ###-###-#### – [redacted] *, or our Borrower Services Department at ###-###-####,[email protected], or the address below:Great Lakes [redacted] ***
Dear Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and find that this resolution is satisfactory to me Thank you and Kind Regards, [redacted]
Thank you for your additional follow up on behalf of Ms [redacted] .The following table details the information provided to Ms [redacted] on the attached Graduated Repayment Plan (GRP) payment schedule from December 5, for her loan under lender number [redacted] :Ms [redacted] ’s payment amount on loan [redacted] did not increase from $because her loan was paid in-full by her consolidation loan on March 13, 2014, just prior to the payment being scheduled to increase to $335.06.We apologize for the frustration Ms [redacted] has experiencedUnfortunately, Great Lakes has provided all information regarding payment allocation and the payment schedules in place for Ms [redacted] As previously mentioned, Great Lakes is required to apply payments according to the federal regulations set forth by the U.SDepartment of Education (ED) and have confirmed that all payments and payment plans on file were in accordance with the federal regulations and her requests.If Ms [redacted] remains dissatisfied with the information provided, she may contact ED’s Federal Student Aid Ombudsman’s officeTheir contact information is as follows:U.SDepartment of Education [redacted] Ms [redacted] may also contact our Borrower Services Department by phone at ###-###-####, through email at [redacted] , or by mailing:Great Lakes [redacted] ***
July 28, [redacted] ** [redacted] Complaint ID: [redacted] Great Lakes ID: [redacted] Dear Mr [redacted] : Thank you for again contacting us on behalf of Ms [redacted] and for providing us the opportunity to address her additional concerns regarding the amount of her monthly payment under her Income-Based Repayment (IBR) plan We reviewed Ms [redacted] ’s account to determine the reason her June 14, payment schedule generated with a payment amount of $44.56, which was her IBR payment based on her August 11, applicationAt the time we received her March 24, Pay as You Earn application, a portion of Ms [redacted] ’s account was in her grace period, effective December 13, through June 13, 2015, with other portions of her account that already utilized their month grace period in a forbearance to match The March 24, Pay as You Earn application was not processed because borrowers are required, by the terms of the IBR plan, to make a payment ($minimum) to switch from the IBR planSince we were unable to process this application, the new income documentation provided with this application was not used to calculate the June 14, IBR plan The last payment of Ms [redacted] ’s original IBR plan, which began in August plan ran for months, was technically due August 21, Because Ms [redacted] returned to school, she was in deferment and did not have to make the payments originally due when she applied for IBR in August However, after she was no longer attending as a half-time student, she entered her grace/forbearance period Since IBR plans run for months at a time, when her grace/forbearance period ended June 13, 2015, she still had payments remaining on her August IBR planBecause her August IBR information was the last IBR application we were able to process, her June 14, payment schedule remained on the August IBR payment schedule which was still validShe would have remained on this plan until either we received a new IBR application that we could process, which Ms [redacted] submitted June 24, 2015, or until August 21, when it would have ended I hope this information helps provide Ms [redacted] the clarification she was seekingIf she has any additional questions or concerns, she may contact our Borrower Services Department by phone at (800) 236-4300, through email at [redacted] , or by mailing: Great Lakes [redacted] Sincerely, Aimee S [redacted] Great Lakes Educational Loan Services Inc
Thank you for contacting us on behalf of Mr [redacted] and for providing us the opportunity to address his concern regarding the forbearance which had applied to his U.SDepartment of Education (ED) Stafford Loan, primarily in relation to his Auto Pay interest rate incentive To address Mr***’s concerns in the most effective and efficient manner, a Specialized Account Manager reached out to him by phone on March 10, Immediate action was taken to remove the forbearance and reinstate Mr***’s previous payment scheduleReinstating his previous payment schedule allows his account to reflect a continuous repayment status since December 23, As a result, his Auto Pay interest rate incentive was not interruptedHis accrued interest has been adjusted accordinglyBecause Mr [redacted] indicated he had unchecked the box meant to apply the forbearance when a borrower intends to complete the online application for consolidation, we have also forwarded the information for review to ensure nothing systematic caused the forbearance to applyWe apologize for any frustration he has experienced and hope the information provided is helpfulIf he has any questions or concerns, he may contact our Borrower Services Department by phone at ###-###-####, by email at [email protected], or by mail to the address below: Great Lakes P.OBox Madison, WI
June 9, [redacted] ** [redacted] Complaint ID: [redacted] Great Lakes ID: [redacted] Dear Mr [redacted] : Thank you for contacting us on behalf of Mr [redacted] and for providing us the opportunity to address his concern regarding his monthly payment amount increasing which caused his bank account to be overdrawn The U.SDepartment of Education (ED), when a borrower’s defaulted loan has been successfully rehabilitated, transfers the loan for servicingIn Mr [redacted] ’ case, his loan was transferred to Great LakesUpon transfer, the payment schedule used during the time of rehabilitation remains in effect for approximately days, which allows the borrower sufficient time to choose an ED approved repayment planDuring this day period, the borrower is sent notifications advising the status of their account and if no repayment plan is chosen by the end of that period, the borrower is placed in the Standard level Repayment plan We have reviewed Mr [redacted] ’ account and have verified that his loan transferred to Great Lakes from Debt Management Collection Systems (DMCS) after it was successfully rehabilitated on January 6, A “Welcome Letter” notifying him of this was emailed and mailed to him on that same date This notification advised Mr [redacted] that the payment schedule his loan transferred with, which had a monthly payment amount of $4.47, would expire on April 6, Additionally, it advised that if he did not select a new repayment plan by that date, his loan would be placed on the Standard Level Repayment plan, and his monthly payments would increaseFor his review, we have attached a copy of his Welcome Letter It is also important to understand that once a borrower’s account enters repayment, ED requires the borrower to satisfy their loan within a required time frame, as dictated by federal guidelinesAs a result, a payment schedule is generated for payments to begin approximately to days from the date their loan account enters repaymentThis payment schedule may list a due date and payment amount different than what the borrower had chosen on Auto Pay, our automated bill-pay service As in Mr [redacted] ’ situation, on March 12, 2015, he enrolled in Auto Pay while his monthly payment amount was $His new payment schedule then generated on April 12, 2015, indicating a payment amount of $due on the 23rd of each month, with his first payment being due by May 23, This payment schedule was emailed to him on April 13, 2015, and has also been attached for review It is important to understand that Great Lakes is contractually obligated to abide by all federal guidelines set forth by EDOur purpose, at Great Lakes, is to assist borrowers with the repayment of their loan(s) any way that we canHowever, as we assist them, we are required to comply with all federal guidelines that govern their loan(s) Interest rates, forbearance eligibility, deferment eligibility, loan forgiveness and discharge, repayment options, as well as methods of payment are outlined in the federal guidelinesThe monthly payment amount of $satisfied the guidelines in which we are required to followUnfortunately, Great Lakes is unable to make exceptions to such guidelines At the present time, our records confirm that Mr [redacted] ’ account is in a temporary forbearance to allow him time to complete an Income-Driven Repayment applicationIf he has any questions or concerns about his account, he may contact us at the information provided belowPlease know that we would be happy to work with Mr [redacted] ’ to find and option that is most suitable for his situationHe may also visit our website, mygreatlakes.org, which provides detailed information and tools that can help him determine if an available option will work for him I apologize for the frustration this experience has caused Mr [redacted] and hope he finds the information provided helpfulAs previously referenced, if he has any additional questions or concerns, he may contact our Borrower Services Department by phone at ###-###-####, by email at [redacted] , or by mail to: Great Lakes [redacted] Sincerely, Aimee S [redacted] Great Lakes Educational Loan Services, Inc
*** ***
*** *** *** ***
Revdex.com of Wisconsin
*** * *** *** ***
*** ** ***
Complaint ID: ***
Great Lakes ID: ***
Dear
Mr
***:
Thank
you for contacting us on behalf of Ms*** *** and for providing us
the opportunity to address her concerns about her student loan that was guaranteed
by Great Lakes Higher Education Guaranty Corporation (Great Lakes)Her concern,
as we understand it, is regarding the current credit reporting by Great Lakes
Great
Lakes is required by the Higher Education Act of 1965, as amended, and it’s
implementing regulations to report defaulted student loan accounts to the
nationwide consumer reporting agencies.
Great Lakes reports on a monthly basis to the nationwide consumer
reporting agencies including TransUnion, Experian, Equifax, and Innovis
Although
Ms*** expressed interest in an authorized loan rehabilitation plan, the
loan was paid in full prior to completing the rehabilitation program via the
William DFord Federal Direct Consolidation Program on March 18, 2011.
After
an account is paid in full Great Lakes sends a final report to the consumer
reporting agencies indicating the status as a zero balance paid collection
account. Any previously reported delinquencies will
remain on Ms***’s credit report for not more than seven years from the
delinquency date that led to the default, which was July 15, 2008. This means that the adverse credit reporting
that occurred because of the default will drop from Ms***’s credit
history next month.
If
Ms***’s intent was to dispute what was reported, her concerns did not
specify what is/was being disputed or the basis for her dispute. Therefore, if Ms*** wishes Great Lakes to
further investigate her dispute, she must explain to us in writing what she’s disputing
and why.
If
Ms*** has any further questions, she may contact an Collection Support Service
Representative by calling ###-###-#### between the hours of 8:A.Mand 4:
P.MCentral Standard Time or by writing to the address listed below
Collection
Support Customer Service Representative
Great
Lakes Higher Education Corporation
International Lane
Madison
WI
We
sincerely apologize for the frustration Ms*** has experienced with the credit
reporting process and hope this information will be helpful to her. If you require future assistance from our
office, you can reach us between 8:am and 4:pm Monday through Friday at
###-###-####, or by email at ***.
Sincerely,
Joe
J***
Great
Lakes Ombudsman Office
July 16,
*** ***
*** *** *** ***
*** *** *** ** ***
*** * *** *** ***
*** ** ***
Complaint ID: ***
Great Lakes ID: ***
Dear
Mr***:
Thank
you for again contacting us on behalf of Mr*** *** and for providing us
the opportunity to address his additional concerns about the customer service
he stated he received
While
we remain committed to assisting Mr*** resolve his complaint, without
assistance, such as the dates the calls he asserted took place, we are unable
to provide anything more than that which was provided in our initial response
to his concernTherefore, we ask Mr*** to provide additional information
and/or supporting documentation to support his assertions against Great Lakes
Regarding
Mr***’ statement that his payment made on July 5, still had not posted
to his account, we have reviewed his account and are happy to report that his
payment has been postedAs with any payment we process and apply, he was given
credit for the payment as of the date it was received, July 6, It appears
as though the July 6, date was the date that Mr*** selected when submitting
his payment July 5, at 7:19am CT
Mr
***’ may want to consider consolidating his federal student loan(s) under the
Direct Loan ProgramConsolidation would enable him to combine all of his federal
student loans into a single loan with a fixed interest rateHowever, it is
important for Mr*** to research the consolidation process before deciding if
consolidating is the best fit for his situationBelow are some items that are
important for him to consider:
Servicer
selection:
As of January 2, 2014, borrowers who are applying for a new consolidation
loan can choose the student loan servicer for whom they would like their
loans serviced by once the consolidation is complete
Interest
Rate:
The Interest rates for consolidation loans are determined by calculating
the weighted average of the interest rates on each of the loans you're
consolidating, rounded up to the nearest 1/percentIn some cases,
consolidating fixed rate loans may produce a consolidation loan with an
interest rate slightly higher than the original loanIf you have variable
rate loans, you will lock in a fixed interest rate calculated at the time
of the consolidationThis fixed rate remains the same throughout the life
of the loan
Monthly
Payment Amount:
Depending on the total consolidation balance, you may be able to extend
your repayment period for up to yearsWhile extending your repayment
period may make your monthly payment more manageable, you'll ultimately
end up paying substantially more interest over the life of the loan
Additional
information is available online at www.studentloans.gov, to assist Mr***
with making the most informed decision on whether or not consolidation is the
most appropriate option for his situation
If
Mr*** has any additional questions or concerns, he may contact our Borrower
Services Department by phone at (800) 236-4300, through email at [email protected], or by
mailing:
Great Lakes
** *** ***
*** ** ***
Sincerely,
***
*** * *** *** ***
Great
Lakes Educational Loan Services Inc
[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and find that this resolution
is satisfactory to me. HelloI filed a complaint but the company has resolved the issueMy complaint can be closed. Thanks!
Regards,
*** ***
Thank you for contacting us on behalf of Ms*** *** and for providing us the opportunityto address her request, which is for Great Lakes to stop reporting and remove her student loan,which we service on behalf of her lender, the U.SDepartment of Education (ED), from her creditfiles at the
nationwide Credit Reporting Agencies (CRAs).After receiving Ms***’s inquiry, we were unable to identify the deferment referenced shethought her account was underAccording to our records, the last deferment Ms*** utilizedwas the unemployment deferment from April 12, through October 11, In order to utilizea deferment, a borrowers needs to meet the eligibility requirements outlined within the federalguidelinesBecause of this, the unemployment deferment can only be placed on a borrower’saccount for a maximum of six monthsAt the end of the six months, a borrower needs to reapplyand confirm that they still meet the eligibility requirements necessary to qualify and utilize theunemployment defermentUnfortunately, Ms*** did not submit a renewal application and heraccount entered repayment.At the present time, our records indicate Ms***’s student loan is days past dueIf theamount of her monthly payment, which is currently $419.97, has created a hardship, it is importantfor Ms*** to realize that there are several repayment and assistance options available to helpher lower or postpone her paymentsTo discuss these options and save her loan from defaulting,we highly recommend that she contact our Borrower Services Department using the informationlisted belowDepending on her preferences, our website, mygreatlakes.org, also provides detailedinformation to help her determine what option may be the best fit for her situationNo matter whatoption she decides upon, we encourage her to contact us as soon as possible so that we mayassist her in bringing her loan up to date.Concerning Ms***’s request to remove information from her credit files, we must first pointout that the Higher Education Act of 1965, as amended, requires that Great Lakes report thestatus of all serviced student loan accounts to the nationwide Credit Reporting Agencies.Additionally, we must also point out that the Fair Credit Reporting Act requires that this informationbe reported accurately and objectivelyWe are audited to ensure our compliance with theserequirementsGiven the above points, perhaps the most important fact for Ms*** to keep inmind is that we are required, as long as we service her loan, to report her student loan informationto the CRAs.In order to verify the accuracy of our credit reporting, we re-evaluated our past reporting towardMs***’s account to ensure no errors were made that would lead to, or result in, inaccuratedelinquency reporting (such as misapplication of payments)Our review confirmed that no sucherrors were madeRegrettably, because the credit reporting done on Ms***’s account isaccurate, we are unable to make any adjustments to it.Although we are unable to approve Ms***’s request, a noteworthy point disclosed onMyfico.com is that individuals who were delinquent in the past are able to improve their FICOscore by paying their loans on time, and the longer an individual pays on time, the more theirFICO score should increase.I understand that this is not the answer Ms*** was hoping for and apologize for anyfrustration she has experiencedIf she has any questions or concerns, she may contact ourBorrower Services Department at ###-###-####, ***, or the addressbelow:
Dear
Mr***:Thank
you again for contacting us on behalf of Mr*** and for providing us the
opportunity to address his concerns regarding his loan that is guaranteed by
Great Lakes Higher Education Guaranty Corporation (Great Lakes) and formerly in
Administrative Wage Garnishment
(AWG) Your request has been forwarded to our office
for review and responseMr***’s concern as we understand it is that he
is having payments taken via AWGWe
are happy to report that Great Lakes’ Collection Support Department has been in
contact with Mr*** and they are working directly with him toward a
resolution. In fact, they report that the
AWG has already been endedWe encourage Mr*** to continue working with
Great LakesWe
again thank you for contacting us and for giving us an opportunity to be of
assistanceIf additional information is required, please by all means, contact
usYou can reach our office between 7:am and 4:pm Monday through Friday
at *** ** ** *** ** *** Sincerely,*** ***Ombudsman Specialist Great Lakes Higher Education
Thank you for contacting us on behalf of MsDebra *** and for providing
us the opportunity to address her concern regarding the phone calls and emails
she states she receives from Great Lakes in relation to a person named Chad
***. Upon receiving Ms***’s concern, we
reviewed our
system in an attempt to identify and remove the phone number and email address
she provided within her inquiryWe are happy to inform her that her contact
information has been removed from our system and she should no longer be
contacted by Great Lakes. We apologize to Ms*** for any
frustration this experience has caused her and hope the information provided
resolves her concern
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and find that this resolution is satisfactory to meI don't think I can do anything at this point, and I think Great Lakes made it clear that they wanted to blow it off, discount me, and move forwardI think I'm not only powerless in this situation but am also being left frustratedThis is just how Great Lakes works and how they're in charge of sevicing the loan, but at the same time they have no answers, so it's a constant loop and a run around
Regards,
*** ***
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this does not resolve my complaint. For your reference, details of the offer I reviewed appear below
[To assist us in bringing this matter to a close, we would like to know your view on the matter.]
As I stated when I first made the complaint, in March Great Lakes reported to the Credit Agencies that I was up to date with my payments an my account had no overdue paymentsIn reading the response from Great Lakes they make it seem that after February I would have been deemed late with paymentsThey state that it is there responsibility to report correct information, however, so far it seems like they report only what they feel like reportingThere is nothing to support there claim that what they are saying is trueIt's unfortunate that they feel the need to scold me to make payments on time and give me advice on how to raise my credit scoreInstead of scolding me, perhaps they should do a review of there practices and integrity
Regards,
*** ***
Thank you for contacting us on behalf of Ms*** *** and for providing us the opportunity to address her request, which is for Great Lakes to remove the delinquencies reported toward her credit files.To begin, we must first note that the Higher Education Act of requires Great Lakes report
the status of all serviced student loan accounts to the nationwide Credit Reporting Agencies (CRAs)Additionally, the Fair Credit Reporting Act requires that this information is reported accurately and objectivelyPlease also note that we are audited to ensure our compliance with these requirements.With this in mind, we reviewed Ms***’s account to verify the accuracy of the information we reported toward her credit files, and to ensure no errors were made that would lead to, or result in, inaccurate delinquency reporting (such as misapplication of payments)This review confirmed that no such errors were made and that the information reported to the CRAs by Great Lakes is accurateFor this reason, even though we empathize with Ms***’s situation, no adjustments will be made to our past credit reporting.Although we are unable to make any adjustments to the information reported toward Ms***’s credit files, please make note that Myfico.com indicates that individuals who were delinquent in the past are able to improve their FICO score by paying their loans on time, and the longer an individual pays on time, the more their FICO score should increase.I understand that this is not the answer Ms*** was hoping for, and apologize for any frustration she has experiencedIf she has any additional questions or concerns, she may contact our Borrower Services Department by phone at ###-###-####, by email at ***, or by mailing:
Thank you for contacting us on behalf of Ms*** *** and for providing us the opportunityto address her concern in regard to the processing of payments she makes through our website,mygreatlakes.org.At the present time, we service Ms***’s Stafford loan with the U.SDepartment of
Education(ED)Concerning the online payment she referenced, we reviewed her account and determinedthat it appears to be either the $payment she scheduled on November 3, with aNovember 3, posting date, or the $payment she scheduled on November 6, with aposting date of November 9, 2015.First, it is important to note that payments made through mygreatlakes.org for ED held loans areprocessed through a clearinghouse (pay.gov) on behalf of the U.STreasurySince pay.gov isresponsible for processing payments, there is typically a short delay between the time we receiveor are notified that a borrower’s payment has cleared and the time the payment posts to theirpayment historyIn most scenarios, this delay takes approximately to business days from thedate the payment was scheduled to post.However, regardless of the amount of time it takes a payment to process, please be assured thatpayments are applied as of the date the payment was scheduled forFor example, Ms***’s$payment was scheduled with a posting date of November 3, This payment was sent toand cleared her financial institution on November 4, Even though her payment didn’t clearher financial institution until November 4, 2015, it was posted to her account as of the date shescheduled it to be sent to her financial institution, November 3, Ms*** may confirmthis by viewing her payment history, which we have also attached for her reference, through ourwebsite.Also for Ms***’s review, we have attached the payment confirmation messages that weresent to the message center within her mygreatlakes.org accountPlease note that anytime apayment is submitted online, a confirmation detailing the amount of the payment and date it isscheduled to be processed is subsequently sent to the borrower’s message center.It appears as if Ms***’s confusion may be stemming from the payment she submittedNovember 6, 2015, but scheduled to be posted on November 9, Since she scheduled it tobe posted on November 9, 2015, it was not sent to her financial institution until 5pm CT that day.Consequently, since her loan is a simple interest loan, meaning interest accrues daily based onthe interest rate and principal balance, the amount of interest satisfied by this payment was morethan the amount of accrued interest listed on her account as of November 6, 2015.Ms*** may be interested in enrolling in Auto Pay, Great Lakes’ automated billing service,which allows for a borrower’s monthly payments to be withdrawn from a checking or savingsaccount automatically each month on their due dateAdditionally, if a borrower chooses, theyhave the ability to modify their Auto Pay settings to increase the amount they would like withdrawnon a monthly basisSince Ms***’s lender is ED, making payments through Auto Pay whilein repayment will allow her to take advantage of the 0.25% interest rate reduction incentive theyoffer for utilizing this method of paymentIf she is interested in Auto Pay, she may enroll throughher mygreatlakes.org account by clicking “Auto Pay” under the “Payments” tab.By enrolling in Auto Pay, Ms*** could be assured that future payments would be posted toher account as of her scheduled due date regardless as to when the payment cleared herfinancial institution.I regret the frustration Ms*** experienced and hope she finds the information providedhelpfulIf she has any questions or concerns she may contact our Borrower Services Departmentby phoning ###-###-####, emailing ***, or by mailing:
Thank you for contacting us on behalf of Ms*** *** and for providing us the opportunity to address her concern regarding the application of payments toward her student loan, which we service on behalf of the U.SDepartment of Education (ED).After reviewing our records, it appears that Ms
***’s concern was addressed directly during a phone conversation with one of Great Lakes’ Specialized Account Manager’s on March 7, 2016.If Ms*** has any additional questions or concerns she would like addressed, she may contact our Borrower Services Department by calling ###-###-####, emailing ***, or by mailing:Great LakesP.OBox 7860Madison, WI 53707Sincerely,*** ***
Thank you for contacting us on behalf of MrGreg *** and for providing us the opportunity toaddress his concern regarding the processing time involved with refunding his payment.Upon receiving Mr***’s concern, we reviewed his account and it appears that his concernwas addressed within the
communication sent to him January 22, Due to the fact that wewould be reiterating the same information detailed in the above response, as his inquiry to theRevdex.com was uniform to the inquiry he submitted to Great Lakes, a copy of it has been attached for hisreview.I genuinely apologize for the frustration this experience has caused Mr*** and hope he findsthe information provided helpfulIf he has any additional questions or concerns, you may visit ourwebsite, mygreatlakes.org, or contact our Borrower Services Department by calling *** ***, emailing ***, or by mailing:*** ***
*** *** ***
*** ** ***
July 6, 2015 [redacted] ** [redacted] Complaint ID: [redacted] Great Lakes ID: [redacted] ... Dear Mr. [redacted] : Thank you for contacting us on behalf of Ms. [redacted] and for providing us the opportunity to address her concern regarding the issues she has experienced with the processing of her Income-Driven Repayment plan and her interest capitalizing. After receiving Ms. [redacted] ’s concern we reviewed our records which indicated that she seems to have resolved her concern during a follow-up conversation with our Borrower Services Department on July 1, 2015. Our records also confirmed that the capitalized interest Ms. [redacted] referenced has been reversed. At the present time, Ms. [redacted] ’s account is in an Income-Based Repayment plan. Based on her income and family size, her monthly payment is $222.76, with her next payment being due by August 9, 2015. Please note that if she would ever like to discuss alternative repayment or assistance options, we would be happy to work with her to find an option that best fits her current situation. If Ms. [redacted] has any additional questions or concerns, she may contact our Borrower Services Department by phone at ###-###-####, through email at [redacted] , or by mailing: Great Lakes [redacted] Sincerely, Aimee S [redacted] Great Lakes Educational Loan Services Inc.
[redacted] Lead Trade Practice Consultant Revdex.com of Wisconsin W Greenfield Ave #Milwaukee WI Complaint ID: Great Lakes ID: [redacted] Dear Ms [redacted] Thank you for contacting us on behalf of MrDavid B [redacted] and for providing us the opportunity to address his concerns regarding his loan that had been guaranteed by Great Lakes Higher Education Guaranty Corporation (Great Lakes) and was recently paid in full via Administrative Wage Garnishment (AWG)Your request has been forwarded to our office for review and responseMrB [redacted] ’s concern as we understand it is that he had multiple payments taken via AWG after the loan had been paid in full To begin, we would like to apologize for the payments that have been inadvertently taken from MrB [redacted] ’s paychecks via the AWG We are happy to report that Great Lakes’ Collection Support Department has been in contact with MrB [redacted] and they are working directly with him toward a resolution In fact, they report that the AWG payments are in the process of being refundedWe encourage MrB [redacted] to continue working with Great Lakes We again sincerely apologize for the frustration MrB [redacted] has experienced And, we again thank you for contacting us and for giving us an opportunity to be of assistanceIf additional information is required, please by all means, contact usYou can reach our office between 7:am and 4:pm Monday through Friday at 866-486-7140, or by email at [redacted] Sincerely, Joe Jilek Ombudsman Specialist
Thank you for contacting us on behalf of MrCurt [redacted] and for providing us the opportunity toaddress his concerns regarding the status of his Parent PLUS loans with the U.SDepartment ofEducation and the customer service issues he experienced.As Mr [redacted] ’s inquiry had multiple issues that needed to be addressed, we reached out tohim directly and requested that he contact a Specialized Account Manager so that we couldaddress his concernsAccording to our records, Mr [redacted] contacted us on February 3, 2016and we were able to discuss and resolve his concerns.We wanted to thank Mr [redacted] for giving us the opportunity to assist him and for his feedback,which we forwarded to the appropriate parties for review and coaching purposes.We genuinely apologize for the frustration Mr [redacted] experiencedMoving forward, if he hasany additional questions or concerns, he may contact a Specialized Account Manager directly bycalling ###-###-#### – [redacted] *, or our Borrower Services Department at ###-###-####,[email protected], or the address below:Great Lakes [redacted] ***
Dear Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and find that this resolution is satisfactory to me Thank you and Kind Regards, [redacted]
Thank you for your additional follow up on behalf of Ms [redacted] .The following table details the information provided to Ms [redacted] on the attached Graduated Repayment Plan (GRP) payment schedule from December 5, for her loan under lender number [redacted] :Ms [redacted] ’s payment amount on loan [redacted] did not increase from $because her loan was paid in-full by her consolidation loan on March 13, 2014, just prior to the payment being scheduled to increase to $335.06.We apologize for the frustration Ms [redacted] has experiencedUnfortunately, Great Lakes has provided all information regarding payment allocation and the payment schedules in place for Ms [redacted] As previously mentioned, Great Lakes is required to apply payments according to the federal regulations set forth by the U.SDepartment of Education (ED) and have confirmed that all payments and payment plans on file were in accordance with the federal regulations and her requests.If Ms [redacted] remains dissatisfied with the information provided, she may contact ED’s Federal Student Aid Ombudsman’s officeTheir contact information is as follows:U.SDepartment of Education [redacted] Ms [redacted] may also contact our Borrower Services Department by phone at ###-###-####, through email at [redacted] , or by mailing:Great Lakes [redacted] ***
July 28, [redacted] ** [redacted] Complaint ID: [redacted] Great Lakes ID: [redacted] Dear Mr [redacted] : Thank you for again contacting us on behalf of Ms [redacted] and for providing us the opportunity to address her additional concerns regarding the amount of her monthly payment under her Income-Based Repayment (IBR) plan We reviewed Ms [redacted] ’s account to determine the reason her June 14, payment schedule generated with a payment amount of $44.56, which was her IBR payment based on her August 11, applicationAt the time we received her March 24, Pay as You Earn application, a portion of Ms [redacted] ’s account was in her grace period, effective December 13, through June 13, 2015, with other portions of her account that already utilized their month grace period in a forbearance to match The March 24, Pay as You Earn application was not processed because borrowers are required, by the terms of the IBR plan, to make a payment ($minimum) to switch from the IBR planSince we were unable to process this application, the new income documentation provided with this application was not used to calculate the June 14, IBR plan The last payment of Ms [redacted] ’s original IBR plan, which began in August plan ran for months, was technically due August 21, Because Ms [redacted] returned to school, she was in deferment and did not have to make the payments originally due when she applied for IBR in August However, after she was no longer attending as a half-time student, she entered her grace/forbearance period Since IBR plans run for months at a time, when her grace/forbearance period ended June 13, 2015, she still had payments remaining on her August IBR planBecause her August IBR information was the last IBR application we were able to process, her June 14, payment schedule remained on the August IBR payment schedule which was still validShe would have remained on this plan until either we received a new IBR application that we could process, which Ms [redacted] submitted June 24, 2015, or until August 21, when it would have ended I hope this information helps provide Ms [redacted] the clarification she was seekingIf she has any additional questions or concerns, she may contact our Borrower Services Department by phone at (800) 236-4300, through email at [redacted] , or by mailing: Great Lakes [redacted] Sincerely, Aimee S [redacted] Great Lakes Educational Loan Services Inc
Thank you for contacting us on behalf of Mr [redacted] and for providing us the opportunity to address his concern regarding the forbearance which had applied to his U.SDepartment of Education (ED) Stafford Loan, primarily in relation to his Auto Pay interest rate incentive To address Mr***’s concerns in the most effective and efficient manner, a Specialized Account Manager reached out to him by phone on March 10, Immediate action was taken to remove the forbearance and reinstate Mr***’s previous payment scheduleReinstating his previous payment schedule allows his account to reflect a continuous repayment status since December 23, As a result, his Auto Pay interest rate incentive was not interruptedHis accrued interest has been adjusted accordinglyBecause Mr [redacted] indicated he had unchecked the box meant to apply the forbearance when a borrower intends to complete the online application for consolidation, we have also forwarded the information for review to ensure nothing systematic caused the forbearance to applyWe apologize for any frustration he has experienced and hope the information provided is helpfulIf he has any questions or concerns, he may contact our Borrower Services Department by phone at ###-###-####, by email at [email protected], or by mail to the address below: Great Lakes P.OBox Madison, WI
June 9, [redacted] ** [redacted] Complaint ID: [redacted] Great Lakes ID: [redacted] Dear Mr [redacted] : Thank you for contacting us on behalf of Mr [redacted] and for providing us the opportunity to address his concern regarding his monthly payment amount increasing which caused his bank account to be overdrawn The U.SDepartment of Education (ED), when a borrower’s defaulted loan has been successfully rehabilitated, transfers the loan for servicingIn Mr [redacted] ’ case, his loan was transferred to Great LakesUpon transfer, the payment schedule used during the time of rehabilitation remains in effect for approximately days, which allows the borrower sufficient time to choose an ED approved repayment planDuring this day period, the borrower is sent notifications advising the status of their account and if no repayment plan is chosen by the end of that period, the borrower is placed in the Standard level Repayment plan We have reviewed Mr [redacted] ’ account and have verified that his loan transferred to Great Lakes from Debt Management Collection Systems (DMCS) after it was successfully rehabilitated on January 6, A “Welcome Letter” notifying him of this was emailed and mailed to him on that same date This notification advised Mr [redacted] that the payment schedule his loan transferred with, which had a monthly payment amount of $4.47, would expire on April 6, Additionally, it advised that if he did not select a new repayment plan by that date, his loan would be placed on the Standard Level Repayment plan, and his monthly payments would increaseFor his review, we have attached a copy of his Welcome Letter It is also important to understand that once a borrower’s account enters repayment, ED requires the borrower to satisfy their loan within a required time frame, as dictated by federal guidelinesAs a result, a payment schedule is generated for payments to begin approximately to days from the date their loan account enters repaymentThis payment schedule may list a due date and payment amount different than what the borrower had chosen on Auto Pay, our automated bill-pay service As in Mr [redacted] ’ situation, on March 12, 2015, he enrolled in Auto Pay while his monthly payment amount was $His new payment schedule then generated on April 12, 2015, indicating a payment amount of $due on the 23rd of each month, with his first payment being due by May 23, This payment schedule was emailed to him on April 13, 2015, and has also been attached for review It is important to understand that Great Lakes is contractually obligated to abide by all federal guidelines set forth by EDOur purpose, at Great Lakes, is to assist borrowers with the repayment of their loan(s) any way that we canHowever, as we assist them, we are required to comply with all federal guidelines that govern their loan(s) Interest rates, forbearance eligibility, deferment eligibility, loan forgiveness and discharge, repayment options, as well as methods of payment are outlined in the federal guidelinesThe monthly payment amount of $satisfied the guidelines in which we are required to followUnfortunately, Great Lakes is unable to make exceptions to such guidelines At the present time, our records confirm that Mr [redacted] ’ account is in a temporary forbearance to allow him time to complete an Income-Driven Repayment applicationIf he has any questions or concerns about his account, he may contact us at the information provided belowPlease know that we would be happy to work with Mr [redacted] ’ to find and option that is most suitable for his situationHe may also visit our website, mygreatlakes.org, which provides detailed information and tools that can help him determine if an available option will work for him I apologize for the frustration this experience has caused Mr [redacted] and hope he finds the information provided helpfulAs previously referenced, if he has any additional questions or concerns, he may contact our Borrower Services Department by phone at ###-###-####, by email at [redacted] , or by mail to: Great Lakes [redacted] Sincerely, Aimee S [redacted] Great Lakes Educational Loan Services, Inc
*** ***
*** *** *** ***
Revdex.com of Wisconsin
*** * *** *** ***
*** ** ***
Complaint ID: ***
Great Lakes ID: ***
Dear
Mr
***:
Thank
you for contacting us on behalf of Ms*** *** and for providing us
the opportunity to address her concerns about her student loan that was guaranteed
by Great Lakes Higher Education Guaranty Corporation (Great Lakes)Her concern,
as we understand it, is regarding the current credit reporting by Great Lakes
Great
Lakes is required by the Higher Education Act of 1965, as amended, and it’s
implementing regulations to report defaulted student loan accounts to the
nationwide consumer reporting agencies.
Great Lakes reports on a monthly basis to the nationwide consumer
reporting agencies including TransUnion, Experian, Equifax, and Innovis
Although
Ms*** expressed interest in an authorized loan rehabilitation plan, the
loan was paid in full prior to completing the rehabilitation program via the
William DFord Federal Direct Consolidation Program on March 18, 2011.
After
an account is paid in full Great Lakes sends a final report to the consumer
reporting agencies indicating the status as a zero balance paid collection
account. Any previously reported delinquencies will
remain on Ms***’s credit report for not more than seven years from the
delinquency date that led to the default, which was July 15, 2008. This means that the adverse credit reporting
that occurred because of the default will drop from Ms***’s credit
history next month.
If
Ms***’s intent was to dispute what was reported, her concerns did not
specify what is/was being disputed or the basis for her dispute. Therefore, if Ms*** wishes Great Lakes to
further investigate her dispute, she must explain to us in writing what she’s disputing
and why.
If
Ms*** has any further questions, she may contact an Collection Support Service
Representative by calling ###-###-#### between the hours of 8:A.Mand 4:
P.MCentral Standard Time or by writing to the address listed below
Collection
Support Customer Service Representative
Great
Lakes Higher Education Corporation
International Lane
Madison
WI
We
sincerely apologize for the frustration Ms*** has experienced with the credit
reporting process and hope this information will be helpful to her. If you require future assistance from our
office, you can reach us between 8:am and 4:pm Monday through Friday at
###-###-####, or by email at ***.
Sincerely,
Joe
J***
Great
Lakes Ombudsman Office
July 16,
*** ***
*** *** *** ***
*** *** *** ** ***
*** * *** *** ***
*** ** ***
Complaint ID: ***
Great Lakes ID: ***
Dear
Mr***:
Thank
you for again contacting us on behalf of Mr*** *** and for providing us
the opportunity to address his additional concerns about the customer service
he stated he received
While
we remain committed to assisting Mr*** resolve his complaint, without
assistance, such as the dates the calls he asserted took place, we are unable
to provide anything more than that which was provided in our initial response
to his concernTherefore, we ask Mr*** to provide additional information
and/or supporting documentation to support his assertions against Great Lakes
Regarding
Mr***’ statement that his payment made on July 5, still had not posted
to his account, we have reviewed his account and are happy to report that his
payment has been postedAs with any payment we process and apply, he was given
credit for the payment as of the date it was received, July 6, It appears
as though the July 6, date was the date that Mr*** selected when submitting
his payment July 5, at 7:19am CT
Mr
***’ may want to consider consolidating his federal student loan(s) under the
Direct Loan ProgramConsolidation would enable him to combine all of his federal
student loans into a single loan with a fixed interest rateHowever, it is
important for Mr*** to research the consolidation process before deciding if
consolidating is the best fit for his situationBelow are some items that are
important for him to consider:
Servicer
selection:
As of January 2, 2014, borrowers who are applying for a new consolidation
loan can choose the student loan servicer for whom they would like their
loans serviced by once the consolidation is complete
Interest
Rate:
The Interest rates for consolidation loans are determined by calculating
the weighted average of the interest rates on each of the loans you're
consolidating, rounded up to the nearest 1/percentIn some cases,
consolidating fixed rate loans may produce a consolidation loan with an
interest rate slightly higher than the original loanIf you have variable
rate loans, you will lock in a fixed interest rate calculated at the time
of the consolidationThis fixed rate remains the same throughout the life
of the loan
Monthly
Payment Amount:
Depending on the total consolidation balance, you may be able to extend
your repayment period for up to yearsWhile extending your repayment
period may make your monthly payment more manageable, you'll ultimately
end up paying substantially more interest over the life of the loan
Additional
information is available online at www.studentloans.gov, to assist Mr***
with making the most informed decision on whether or not consolidation is the
most appropriate option for his situation
If
Mr*** has any additional questions or concerns, he may contact our Borrower
Services Department by phone at (800) 236-4300, through email at [email protected], or by
mailing:
Great Lakes
** *** ***
*** ** ***
Sincerely,
***
*** * *** *** ***
Great
Lakes Educational Loan Services Inc
[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and find that this resolution
is satisfactory to me. HelloI filed a complaint but the company has resolved the issueMy complaint can be closed. Thanks!
Regards,
*** ***
Thank you for contacting us on behalf of Ms*** *** and for providing us the opportunityto address her request, which is for Great Lakes to stop reporting and remove her student loan,which we service on behalf of her lender, the U.SDepartment of Education (ED), from her creditfiles at the
nationwide Credit Reporting Agencies (CRAs).After receiving Ms***’s inquiry, we were unable to identify the deferment referenced shethought her account was underAccording to our records, the last deferment Ms*** utilizedwas the unemployment deferment from April 12, through October 11, In order to utilizea deferment, a borrowers needs to meet the eligibility requirements outlined within the federalguidelinesBecause of this, the unemployment deferment can only be placed on a borrower’saccount for a maximum of six monthsAt the end of the six months, a borrower needs to reapplyand confirm that they still meet the eligibility requirements necessary to qualify and utilize theunemployment defermentUnfortunately, Ms*** did not submit a renewal application and heraccount entered repayment.At the present time, our records indicate Ms***’s student loan is days past dueIf theamount of her monthly payment, which is currently $419.97, has created a hardship, it is importantfor Ms*** to realize that there are several repayment and assistance options available to helpher lower or postpone her paymentsTo discuss these options and save her loan from defaulting,we highly recommend that she contact our Borrower Services Department using the informationlisted belowDepending on her preferences, our website, mygreatlakes.org, also provides detailedinformation to help her determine what option may be the best fit for her situationNo matter whatoption she decides upon, we encourage her to contact us as soon as possible so that we mayassist her in bringing her loan up to date.Concerning Ms***’s request to remove information from her credit files, we must first pointout that the Higher Education Act of 1965, as amended, requires that Great Lakes report thestatus of all serviced student loan accounts to the nationwide Credit Reporting Agencies.Additionally, we must also point out that the Fair Credit Reporting Act requires that this informationbe reported accurately and objectivelyWe are audited to ensure our compliance with theserequirementsGiven the above points, perhaps the most important fact for Ms*** to keep inmind is that we are required, as long as we service her loan, to report her student loan informationto the CRAs.In order to verify the accuracy of our credit reporting, we re-evaluated our past reporting towardMs***’s account to ensure no errors were made that would lead to, or result in, inaccuratedelinquency reporting (such as misapplication of payments)Our review confirmed that no sucherrors were madeRegrettably, because the credit reporting done on Ms***’s account isaccurate, we are unable to make any adjustments to it.Although we are unable to approve Ms***’s request, a noteworthy point disclosed onMyfico.com is that individuals who were delinquent in the past are able to improve their FICOscore by paying their loans on time, and the longer an individual pays on time, the more theirFICO score should increase.I understand that this is not the answer Ms*** was hoping for and apologize for anyfrustration she has experiencedIf she has any questions or concerns, she may contact ourBorrower Services Department at ###-###-####, ***, or the addressbelow:
Dear
Mr***:Thank
you again for contacting us on behalf of Mr*** and for providing us the
opportunity to address his concerns regarding his loan that is guaranteed by
Great Lakes Higher Education Guaranty Corporation (Great Lakes) and formerly in
Administrative Wage Garnishment
(AWG) Your request has been forwarded to our office
for review and responseMr***’s concern as we understand it is that he
is having payments taken via AWGWe
are happy to report that Great Lakes’ Collection Support Department has been in
contact with Mr*** and they are working directly with him toward a
resolution. In fact, they report that the
AWG has already been endedWe encourage Mr*** to continue working with
Great LakesWe
again thank you for contacting us and for giving us an opportunity to be of
assistanceIf additional information is required, please by all means, contact
usYou can reach our office between 7:am and 4:pm Monday through Friday
at *** ** ** *** ** *** Sincerely,*** ***Ombudsman Specialist Great Lakes Higher Education
Thank you for contacting us on behalf of MsDebra *** and for providing
us the opportunity to address her concern regarding the phone calls and emails
she states she receives from Great Lakes in relation to a person named Chad
***. Upon receiving Ms***’s concern, we
reviewed our
system in an attempt to identify and remove the phone number and email address
she provided within her inquiryWe are happy to inform her that her contact
information has been removed from our system and she should no longer be
contacted by Great Lakes. We apologize to Ms*** for any
frustration this experience has caused her and hope the information provided
resolves her concern
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and find that this resolution is satisfactory to meI don't think I can do anything at this point, and I think Great Lakes made it clear that they wanted to blow it off, discount me, and move forwardI think I'm not only powerless in this situation but am also being left frustratedThis is just how Great Lakes works and how they're in charge of sevicing the loan, but at the same time they have no answers, so it's a constant loop and a run around
Regards,
*** ***
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this does not resolve my complaint. For your reference, details of the offer I reviewed appear below
[To assist us in bringing this matter to a close, we would like to know your view on the matter.]
As I stated when I first made the complaint, in March Great Lakes reported to the Credit Agencies that I was up to date with my payments an my account had no overdue paymentsIn reading the response from Great Lakes they make it seem that after February I would have been deemed late with paymentsThey state that it is there responsibility to report correct information, however, so far it seems like they report only what they feel like reportingThere is nothing to support there claim that what they are saying is trueIt's unfortunate that they feel the need to scold me to make payments on time and give me advice on how to raise my credit scoreInstead of scolding me, perhaps they should do a review of there practices and integrity
Regards,
*** ***
Thank you for contacting us on behalf of Ms*** *** and for providing us the opportunity to address her request, which is for Great Lakes to remove the delinquencies reported toward her credit files.To begin, we must first note that the Higher Education Act of requires Great Lakes report
the status of all serviced student loan accounts to the nationwide Credit Reporting Agencies (CRAs)Additionally, the Fair Credit Reporting Act requires that this information is reported accurately and objectivelyPlease also note that we are audited to ensure our compliance with these requirements.With this in mind, we reviewed Ms***’s account to verify the accuracy of the information we reported toward her credit files, and to ensure no errors were made that would lead to, or result in, inaccurate delinquency reporting (such as misapplication of payments)This review confirmed that no such errors were made and that the information reported to the CRAs by Great Lakes is accurateFor this reason, even though we empathize with Ms***’s situation, no adjustments will be made to our past credit reporting.Although we are unable to make any adjustments to the information reported toward Ms***’s credit files, please make note that Myfico.com indicates that individuals who were delinquent in the past are able to improve their FICO score by paying their loans on time, and the longer an individual pays on time, the more their FICO score should increase.I understand that this is not the answer Ms*** was hoping for, and apologize for any frustration she has experiencedIf she has any additional questions or concerns, she may contact our Borrower Services Department by phone at ###-###-####, by email at ***, or by mailing:
Thank you for contacting us on behalf of Ms*** *** and for providing us the opportunityto address her concern in regard to the processing of payments she makes through our website,mygreatlakes.org.At the present time, we service Ms***’s Stafford loan with the U.SDepartment of
Education(ED)Concerning the online payment she referenced, we reviewed her account and determinedthat it appears to be either the $payment she scheduled on November 3, with aNovember 3, posting date, or the $payment she scheduled on November 6, with aposting date of November 9, 2015.First, it is important to note that payments made through mygreatlakes.org for ED held loans areprocessed through a clearinghouse (pay.gov) on behalf of the U.STreasurySince pay.gov isresponsible for processing payments, there is typically a short delay between the time we receiveor are notified that a borrower’s payment has cleared and the time the payment posts to theirpayment historyIn most scenarios, this delay takes approximately to business days from thedate the payment was scheduled to post.However, regardless of the amount of time it takes a payment to process, please be assured thatpayments are applied as of the date the payment was scheduled forFor example, Ms***’s$payment was scheduled with a posting date of November 3, This payment was sent toand cleared her financial institution on November 4, Even though her payment didn’t clearher financial institution until November 4, 2015, it was posted to her account as of the date shescheduled it to be sent to her financial institution, November 3, Ms*** may confirmthis by viewing her payment history, which we have also attached for her reference, through ourwebsite.Also for Ms***’s review, we have attached the payment confirmation messages that weresent to the message center within her mygreatlakes.org accountPlease note that anytime apayment is submitted online, a confirmation detailing the amount of the payment and date it isscheduled to be processed is subsequently sent to the borrower’s message center.It appears as if Ms***’s confusion may be stemming from the payment she submittedNovember 6, 2015, but scheduled to be posted on November 9, Since she scheduled it tobe posted on November 9, 2015, it was not sent to her financial institution until 5pm CT that day.Consequently, since her loan is a simple interest loan, meaning interest accrues daily based onthe interest rate and principal balance, the amount of interest satisfied by this payment was morethan the amount of accrued interest listed on her account as of November 6, 2015.Ms*** may be interested in enrolling in Auto Pay, Great Lakes’ automated billing service,which allows for a borrower’s monthly payments to be withdrawn from a checking or savingsaccount automatically each month on their due dateAdditionally, if a borrower chooses, theyhave the ability to modify their Auto Pay settings to increase the amount they would like withdrawnon a monthly basisSince Ms***’s lender is ED, making payments through Auto Pay whilein repayment will allow her to take advantage of the 0.25% interest rate reduction incentive theyoffer for utilizing this method of paymentIf she is interested in Auto Pay, she may enroll throughher mygreatlakes.org account by clicking “Auto Pay” under the “Payments” tab.By enrolling in Auto Pay, Ms*** could be assured that future payments would be posted toher account as of her scheduled due date regardless as to when the payment cleared herfinancial institution.I regret the frustration Ms*** experienced and hope she finds the information providedhelpfulIf she has any questions or concerns she may contact our Borrower Services Departmentby phoning ###-###-####, emailing ***, or by mailing:
Thank you for contacting us on behalf of Ms*** *** and for providing us the opportunity to address her concern regarding the application of payments toward her student loan, which we service on behalf of the U.SDepartment of Education (ED).After reviewing our records, it appears that Ms
***’s concern was addressed directly during a phone conversation with one of Great Lakes’ Specialized Account Manager’s on March 7, 2016.If Ms*** has any additional questions or concerns she would like addressed, she may contact our Borrower Services Department by calling ###-###-####, emailing ***, or by mailing:Great LakesP.OBox 7860Madison, WI 53707Sincerely,*** ***
Thank you for contacting us on behalf of MrGreg *** and for providing us the opportunity toaddress his concern regarding the processing time involved with refunding his payment.Upon receiving Mr***’s concern, we reviewed his account and it appears that his concernwas addressed within the
communication sent to him January 22, Due to the fact that wewould be reiterating the same information detailed in the above response, as his inquiry to theRevdex.com was uniform to the inquiry he submitted to Great Lakes, a copy of it has been attached for hisreview.I genuinely apologize for the frustration this experience has caused Mr*** and hope he findsthe information provided helpfulIf he has any additional questions or concerns, you may visit ourwebsite, mygreatlakes.org, or contact our Borrower Services Department by calling *** ***, emailing ***, or by mailing:*** ***
*** *** ***
*** ** ***