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In October 2017, Great Lakes Higher Education Corporation reached an agreement to sell off 100% of the stock of its subsidiary, the Great Lakes Educational Loan Services, Inc. to Nelnet. [8] The company was to be sold for $150 million, initially keeping CEO Jeff Crosby in charge, but with a plan of consolidating the companies together. [9] On ...
Key takeaways. CornerStone was previously one of eight approved federal student loan servicing agencies that provided loans nationwide. Although Cornerstone was contracted to service loans through ...
As a subsidiary, UNIPAC Service Corporation was then renamed Nelnet Loan Services, Inc. [4] In June 2000, Nelnet acquired In Tuition, Inc., a loan-servicing company based in Jacksonville, Florida, which was founded in 1979. [5] Nelnet became a publicly traded company in 2003, at which point the two founders were co-CEOs. [1]
The U.S. Department of Education contracts with companies to manage, or service, the loans it owns. These companies are the primary point of contact for borrowers after they graduate and enter repayment. A student loan servicer is a company which facilitates different aspects of a loan.
Under the overhaul, five companies will take over student loan servicing. Four already hold contracts with the Education Department servicing student loans, while the fifth, Central Research, Inc ...
FedLoan Servicing stopped handling federal student loan accounts on December 14, 2021. After the decision, FedLoan accounts were transferred to MOHELA, Edfinancial, Aidvantage and Nelnet.
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