Student Loans of North Dakota to Transfer Portfolio to Great Lakes
Madison, Wis. and Bismarck, ND., April 1, 2016—Student Loans of North Dakota (SLND) is transferring its portfolio under the Federal Family Education Loan Program to Great Lakes Higher Education Guaranty Corporation (Great Lakes) effective March 31, 2016. Great Lakes will serve as the designated guarantor for North Dakota.
SLND and Great Lakes both have decades of experience with increasing student access to higher education and helping student loan borrowers succeed in repayment, and have long played a leadership role in advocating for policies that are in the best interests of borrowers. Officials in Bismarck and Madison have been working together to ensure a seamless transition for the borrowers, schools, and lenders in the SLND portfolio.
As a federal loan servicer with a reputation for excellent customer service, Great Lakes looks forward to continuing SLND's commitment to helping borrowers find repayment plans that best suit their individual needs. Like SLND, Great Lakes understands the best way to build relationships with student loan borrowers and their families is to help them understand their loans and plan wisely while in school, and provide continued support throughout student loan repayment.
Great Lakes' dedication to service also extends to schools and business partners. Great Lakes offers solutions for default management, private loan processing, loan servicing, and more, as well as support from dedicated Great Lakes representatives located throughout the country, helping financial aid professionals nationwide make a difference in the lives of their students.
The SLND transfer marks Great Lakes' fifth successful guarantor portfolio conversion since 2009. As the designated guarantor for eight states and U.S. territories, including South Dakota, Minnesota, Iowa, Ohio, Wisconsin, Arkansas, the Virgin Islands, and Puerto Rico, Great Lakes has the experience to ensure North Dakota student loan borrowers and their schools and lenders receive the best possible service in the years ahead.