May 2017 email sent to borrowers: Know Your Repayment Options
Great Lakes engages its in-school borrowers with an annual email campaign, four times a year, to promote financial wellness and a better understanding of student loans and debt.
We carefully selected the following Knowledge Center topics to send to approximately 2 million in-school borrowers throughout the past year, to enhance their understanding of loan servicing, help them reduce their debt, and prepare them for successful repayment.
- In November 2016, we promoted FAFSA to Loan—Why Great Lakes is Your Servicer, to explain what a loan servicer is and why Great Lakes is communicating with the borrower.
- In February 2017, Top 6 Ways to Reduce What You Owe creatively featured an eight-bit wizard who explores some of the most effective ways for borrowers to reduce their debt.
- Last month, Know Your Federal Student Loan Repayment Options explained how students can keep track of what they owe, different repayment plans that may be available to them, and options to explore if they face financial struggles.
- Borrowers can look forward to receiving one additional email from Great Lakes, featuring Create Your Student Loan Repayment Strategy. This topic provides an overview of situations a borrower might find themselves in (can't afford payments, too many payments, etc.), and which repayment options might work best for their unique situation.
Great Lakes is committed to seeing our borrowers succeed in repayment, and by proactively engaging with them throughout the loan process, we hope to demonstrate this commitment to them by offering useful resources along the way.