History, Merger, and Next Steps for Borrowers
If you had a Great Lakes student loan, you may have noticed that your loan is now managed by Nelnet. That’s because in 2018, Nelnet acquired Great Lakes Educational Loan Services, Inc., merging two of 326the nation’s largest student loan servicers under the Nelnet umbrella. The acquisition included Great Lakes’ federal student loan servicing contract with the U.S. Department of Education.
What Changed After the Acquisition
Following the merger, Great Lakes’ federal student loan accounts were gradually transitioned to Nelnet’s servicing platform. Today, Nelnet services federal student loans under its own name and manages private student loans through its subsidiary, Firstmark Services.
If you previously logged in at mygreatlakes.org, your account information, payment history, and loan terms were securely transferred to nelnet.com. Borrowers should now make payments and manage their accounts directly through Nelnet’s online portal.
What This Means for Borrowers
The move consolidated customer support and technology systems, allowing Nelnet to streamline operations. However, your loan type and repayment options remain the same—this transition did not change the terms of your loan or your eligibility for programs like income-driven repayment (IDR) or Public Service Loan Forgiveness (PSLF).
If you had a federal student loan with Great Lakes, you’re now served by Nelnet. If you had a private student loan managed by Great Lakes, your account is likely handled by Firstmark.
Staying on Top of Your Student Loans
Whether your loans are federal or private, it’s important to know your servicer and understand your repayment options—especially as new legislation and loan forgiveness programs continue to evolve.
If you’re unsure who your loan servicer is or how to navigate repayment, Student Loan Professor can help you make sense of your options, identify potential forgiveness opportunities, and create a personalized repayment strategy.
Need clarity on your student loans?
Talk to one of our experts today and get a clear plan for managing your debt.
Brandon Barfield is the President and Co-Founder of Student Loan Professor, and is nationally known as student loan expert for graduate health professions. Since 2011, Brandon has given hundreds of loan repayment presentations for schools, hospitals, and medical conferences across the country. With his diverse background in financial aid, financial planning and student loan advisory, Brandon has a broad understanding of the intricacies surrounding student loans, loan repayment strategies, and how they should be considered when graduates make other financial decisions.
