Michigan Specific Guaranty
Description
How to fill out Specific Guaranty?
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FAQ
Questions regarding your defaulted student loan account should be directed to the collections unit at 800-214-9320.
We've merged our loans and our staff with Nelnet. All Great Lakes student loans have been transferred to Nelnet.
If you work full time for a government or nonprofit organization, you may qualify for forgiveness of the entire remaining balance of your Direct Loans after you've made 120 qualifying payments?i.e., 10 years of payments. To benefit from PSLF, you need to repay your federal student loans under an IDR plan.
A guaranty agency is a state or private non-profit agency that helps administer the Federal Family Education Loan (FFEL) Program. A guaranty agency insures federal loans by repaying the loan holder when a loan defaults.
If you work full time for a government or nonprofit organization, you may qualify for forgiveness of the entire remaining balance of your Direct Loans after you've made 120 qualifying payments?i.e., 10 years of payments. To benefit from PSLF, you need to repay your federal student loans under an IDR plan.
Default is the failure to repay a loan ing to the terms agreed to in the promissory note. For most federal student loans, you default if you have not made a payment in more than 270 days.