New Member
Posts: 3
Registered: ‎02-08-2013

A few basic questions about student loans - first timer - help needed



I had my x-girlfriend doing all my student loans "thinkgies" - a very bad mistake on my part, but i was so busy at work I could not attend to it. 

Now I am seeing the resutls. 


I am here to ask a few very basic questions: 


1. Who is/are Great Lakes? 

- They are my lenders. Are they a government agency? Private? 


2. My loan is due soon. I can't fully pay. Depite graduating from a great Univeristy, I still didn't get a job. The market is horible. 

- What should I do?


3. I never took "private loans". I only accepted this loans: 

- Direct Subsidized Loan

- Direct Unsubsidized Loan

- Perkings Loan

- Federal Pell Grant

- Univeristy Grant


- Which of these do I need to pay back? Is it right to assume that "grants" (Federal Pell Grant and University Grant) are gifts?


I will stop here, cause I don't want to make this too long. 


Thanks so much! 

Community Leader
Valued Contributor
Posts: 1,149
Registered: ‎06-09-2008

Re: A few basic questions about student loans - first timer - help needed

1.  Great Lakes is a loan servicer, they may hold all or some of your federal loans.  Go to and log in to get a complete list of your federal student loans.  If you click each loan number, it will also give you the name and contact information for the loan holders.  Take note of that information, you will want to contact them and/or visit their websites to set up accounts so you can be sure they have your up-to-date contact information and so you can monitor your accounts.


2. You should contact your lenders and explain your situation.  With federal loans, you have a number of repayment plans and some deferment options available to you.  If you can pay something, I would look at getting your loans on a repayment plan you can afford.  The lender's website, or customer service, will be able to educate you about these options and sign you up for one of them.


3. Pell Grants do not need to be repaid, and generally, neither do any funds considered a "grant" or scholarship from your university.  If you have any questions about whether you need to repay any money to your university, contact your Financial Aid office and just ask.

New Member
Posts: 3
Registered: ‎02-08-2013

Re: A few basic questions about student loans - first timer - help needed

I am very gratful for your answer! 

Thank you very much. I have indeed logged in to the site you supplied me with, and saw a comprehansive summery of my loans!!! 

Regular Contributor
Posts: 187
Registered: ‎05-07-2010

Re: A few basic questions about student loans - first timer - help needed

Great lakes is a servicer.  Which means they service loans, not actually issue them.  They have a good website, go there, and sign up for online access.  There you can see your payment info, and maybe switch to another payment plan that will make things more affordable.

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+