| The student loan industry is huge, and it is expanding | | | | By managing FFEL student loans, Great Lakes makes |
| as college costs rise. With students looking for ways | | | | it possible for private investors to tap into this |
| to get into college and capital holders looking for | | | | market. |
| ways to safely and lucratively invest their money, | | | | Great Lakes also offers private or non-traditional |
| Great Lakes student loans management helps unite | | | | student loans, tailored to meet both the financial |
| people who want to study with people who want to | | | | needs of students and the investment and security |
| invest in their education. | | | | needs of lenders. These loans make it possible for |
| Great Lakes offers all the federal loans available | | | | students to pay the remaining costs of their |
| through the Federal Family Education Loan Program. | | | | education after federal loans. |
| This includes Stafford loans, which offer some | | | | Great Lakes offers a number of services for |
| funding for every year a student is in school. These | | | | prospective students and lenders which serve to help |
| can be subsidized by the federal government on a | | | | students plan their education, help lenders increase |
| need basis, meaning that until the student finishes | | | | their business, and to generally promote higher |
| school, the government pays the interest on the | | | | education, which, as a higher education guaranty |
| loan, allowing the student to defer payment without | | | | corporation, serves Great Lakes' interests. These |
| capitalizing the interest. Students with unsubsidized | | | | resources include pamphlets and online resources |
| loans also have the option of paying off the loan or | | | | outlining the benefits of receiving a college education, |
| just the interest while they study to avoid capitalizing | | | | loan calculators for students, and loan education |
| the interest later. | | | | resources for lenders, borrowers, schools, and |
| Other federal loans include PLUS loans, which are | | | | counselors and financial aid professionals. |
| offered to parents of students in any year of college | | | | For lenders and borrowers who have already |
| and to graduate students in addition to the Stafford | | | | established a relationship, Great Lakes has online |
| loan. This loan comes with a minimal credit | | | | resources for borrowers and management software |
| requirement, which can be met using a cosigner. | | | | for lenders. Great Lakes offers personal financial |
| Federal loans are offered through the FFEL as well as | | | | management resources for students, as well as |
| directly from the Department of Education, in order | | | | mutually beneficial resources for helping students |
| to enforce a standard maximum fixed interest rate, | | | | avoid defaulting on loans, including consolidation |
| but share the burden (and opportunity) of funding | | | | options. |
| student loans between the government and lenders. | | | | |