Great Lakes and Student Loan Forgiveness Programs
Due to its partnership with the Department of Education, there are several Great Lakes student loan forgiveness programs available to eligible borrowers.
Great Lakes and Public Service Loan Forgiveness (PSLF)
As a full-time public employee, or as a full-time volunteer in AmeriCorps and Peace Corps, you could be eligible for Public Service Loan Forgiveness (PSLF) through Great Lakes.
In addition to working for a PSLF-approved employer, you’ll need to have loans that qualify for Public Service Loan Forgiveness with Great Lakes, and make 120 consecutive, on-time payments towards these qualifying loans. Once you’ve met all the requirements, your student loans may become eligible for forgiveness.
If you’re approved for PSLF, all qualifying loans will be moved to FedLoan Servicing to complete the PSLF forgiveness process.
Have you been denied for PSLF before, even though you qualified? Get information on the Temporary Expanded Public Service Loan Forgiveness (TEPSLF) program, which helps eligible borrowers in your situation.
Great Lakes and Teacher Loan Forgiveness
Are you a teacher with Direct Loans or FFEL program loans? If you work full-time in a low-income school or educational agency, you might qualify for Teacher Loan Forgiveness through Great Lakes.
Depending on your eligibility, Teacher Loan Forgiveness offers up to $17,500 in loan repayment assistance on qualifying loans. If you have a Perkins Loan, you could also qualify for a Perkins Loan Cancellation. You can learn more about the requirements for Teacher Loan Forgiveness and Perkins Loan Cancellation for teachers here.
Great Lakes and Total and Permanent Disability (TPD) Discharge
If you’re a permanently disabled veteran or individual with student loans, you might be eligible for a Total and Permanent Disability (TPD) Discharge. But once you’re approved, all eligible loans will be moved to the DOE’s sole servicer, Nelnet, who is the exclusive servicer of the TPD Discharge program.
As part of the application process for the TPD Discharge, you’ll need to submit paperwork proving your disabled status from the U.S. Department of Veterans Affairs, your doctor, or the Social Security Administration. But once your TPD Discharge is approved, any student loan balances you have could be discharged by your lender.
Great Lakes and Other Student Loan Discharges
Looking for other ways to become debt-free? You might be able to take advantage of some Great Lakes student loan discharge programs under certain circumstances. These include:
- School closure discharge
- False certification discharge
- Unpaid refund discharge
Each of these programs has strict requirements, so it’s important to find out if you’re eligible. Explore our student loan discharges for more information.
Great Lakes and Income-Driven Repayment Plans
Are your student loans not eligible for forgiveness? You might consider refinancing or consolidating your loans to make them eligible for Great Lakes student loan forgiveness programs. Here are some income-driven repayment plans that could help you qualify:
- Income-Based Repayment (IBR) Plan
- Pay As You Earn (PAYE) Repayment Plan
- Revised Pay As You Earn (REPAYE) Repayment Plan
- Income-Contingent Repayment (ICR) Plan
- Income Sensitive Repayment (ISR) Plan
Income-driven repayment plans typically offer lower monthly payments, longer repayment periods, and may qualify you for one or more student loan forgiveness programs that can help you become debt-free.