Great Lakes Student Loans, once one of the largest federal student loan servicers in the United States, ended its contract with the Department of Education in 2021. If you had loans with Great Lakes, your account was transferred to another servicer, Aidvantage, which now handles all billing, payments, and customer service. This change was part of a broader effort by the federal government to consolidate and improve student loan servicing.
Why Did Great Lakes Stop Servicing Loans?
The U.S. Department of Education decided not to renew Great Lakes’ contract as part of a plan to simplify the student loan system. The goal was to reduce the number of servicers and create a more consistent experience for borrowers. Great Lakes was one of several servicers that lost their contracts during this transition.
For borrowers, this means you no longer log in to the Great Lakes website or call their phone number. Instead, your loan information is now managed by Aidvantage, a subsidiary of Maximus, which took over Great Lakes’ portfolio in 2021.
What Happened to Your Loans?
If you had federal student loans with Great Lakes, your loans were automatically transferred to Aidvantage. The transfer was seamless for most borrowers—your loan terms, interest rates, and payment plans remained the same. However, you needed to create a new online account with Aidvantage to manage your loans.
You should have received multiple notifications from both Great Lakes and Aidvantage about the transfer, including your new account information and the date when payments would resume. If you missed these notices, you can still access your loan details through the Federal Student Aid website (studentaid.gov).
Key Changes to Expect
- Your loan servicer is now Aidvantage, not Great Lakes.
- You must create a new online account at Aidvantage.com.
- Your payment due date and auto-pay settings may have changed.
- All future correspondence will come from Aidvantage, not Great Lakes.
How to Manage Your Loans After the Transfer
Once you know your loans are with Aidvantage, the first step is to log in and update your contact information. This ensures you receive important notices about your loans, including billing statements and tax documents. If you had auto-pay set up with Great Lakes, you may need to re-enroll because the automatic payment authorization does not always carry over.
Next, review your loan details to confirm that your balance, interest rate, and repayment plan are correct. If you were on an income-driven repayment plan, it should have transferred, but it’s smart to double-check. You can also explore other repayment options if your financial situation has changed.
Important Dates and Deadlines
| Event | Date |
|---|---|
| Great Lakes contract ended | 2021 |
| Loan transfers to Aidvantage | 2021 |
| Payment pause ended | October 2023 |
| On-ramp period ended | September 2024 |
As of August 2026, all federal student loan payments are due as normal. If you are struggling to pay, contact Aidvantage to discuss options like deferment, forbearance, or income-driven repayment plans.
What If You Still Have Questions?
If you are unsure about the status of your loans or need help, start by logging into studentaid.gov. This official portal shows all your federal loans and the current servicer. You can also contact Aidvantage directly at 800-722-1300 for account-specific questions.
Remember, the transfer from Great Lakes to Aidvantage does not change your legal obligation to repay your loans. It is important to stay informed and proactive to avoid missed payments and potential default.
Actionable Tips for Borrowers
- Create your Aidvantage account as soon as possible to avoid losing access.
- Update your mailing address and email to receive important documents.
- Check your auto-pay enrollment and re-enroll if needed.
- Keep records of all communications with both servicers.
In summary, Great Lakes student loans are now serviced by Aidvantage, and you must take action to manage your new account. The change was automatic, but your involvement is necessary to ensure smooth payments and access to your loan information. Stay informed by checking studentaid.gov and contacting Aidvantage if you have any concerns.
Frequently Asked Questions
What happened to Great Lakes student loans?
Great Lakes student loans were transferred to Aidvantage in 2021 when the Department of Education ended Great Lakes’ contract.
Do I still owe money if my loans were transferred from Great Lakes?
Yes, your loans are still valid and you owe the same amount, but your servicer is now Aidvantage instead of Great Lakes.
How do I access my loan account after the transfer?
You need to create a new online account at Aidvantage.com using your personal information, or log in to studentaid.gov to see your servicer.
Will my payment amount change with Aidvantage?
Your payment amount should stay the same unless you change repayment plans, but you should verify your details after the transfer.
What should I do if I haven’t received any notice about the transfer?
Log in to studentaid.gov to check your current servicer, and contact Aidvantage directly for assistance.
