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  1. What We Do
  2. Federal Student Loans
  3. Federal Loan Servicing Abuse
  4. Nelnet/Great Lakes

Nelnet/Great Lakes

We are fighting to hold Nelnet accountable for years of mismanagement and abuse.

Nelnet is one of the largest student loan companies in the country, servicing loans owned by private creditors and loans owned by the U.S. Department of Education. In 2018, Nelnet acquired the student loan company Great Lakes, along with Great Lakes’ federal student loan servicing contract. Nelnet now services federal student loans under its own name and private student loans under the brand FirstMark.

What We’re Doing

Nelnet’s history of mismanagement, abuse, and unlawful conduct has made it a target for private lawsuits and congressional oversight. See below to learn more about our work to hold Nelnet accountable.

Latest Work


  • News Clips
    Aug 10, 2024

    Elizabeth Warren probes student-loan transfer that tanked borrowers’ credit scores

    The letter comes after the Washington Post reported earlier this year that more than 1.4 million borrowers whose loans were transferred from Nelnet to MOHELA had duplicate balances showing on their credit reports, putting them at risk of being saddled with inaccurately low credit scores.

    More


  • Blogs
    Jun 2, 2023

    Meet the New Servicers, Same as the Old Servicers

    In April, ED announced the award of its USDS program; meet the companies it will pay to manage the economic futures of more than 43 million borrowers.

    More


  • Blogs
    May 19, 2023

    Student Debt is Good Debt… If You’re One of These Debt Collectors

    It’s no secret that our student loan system is broken, but many don’t realize that these companies’ CEOs are profiting enormously in the process.

    More


  • Letters & Memos
    Mar 2, 2022

    Nelnet Borrower Voices on the Incomplete Promise of Relief through IDR

    This memo describes how borrowers whose loans are serviced by Nelnet have suffered from the industry’s harmful practices, in particular when it comes to Income-Driven Repayment (IDR) options.

    More


  • Press Releases
    Dec 6, 2021

    Advocates Warn: Student Loan Companies Seek to Undermine PSLF Overhaul to Pad Profits

    The SBPC and a coalition of the nation’s largest unions representing millions of public service workers sent letters to large student loan companies demanding immediate action to ensure successful implementation of ED’s recent overhaul of PSLF.

    More


  • Blogs
    May 25, 2021

    When Financial Companies get a Free Pass, Big Data Leads to Big Errors

    This blog examines the continued problems within the credit reporting system with a focus on widespread inaccuracies by companies that furnish credit information, including student loan servicers.

    More


  • Blogs
    Apr 8, 2021

    The Student Loan Industry Failed Borrowers During the Pandemic Even More than We Knew. The Biden Administration Must Act.

    Our new report reveals tens of thousands of newly uncovered instances in which federal student loan servicers misreported borrowers’ repayment status to credit reporting agencies in apparent violation of the CARES Act and consumer financial laws such as the Fair Credit Reporting Act.

    More


  • Lawsuits
    May 20, 2020

    Credit Reporting Complaint Against Great Lakes, Equifax, TransUnion, and Experian

    Individuals representing a class of millions of student loan borrowers sued Great Lakes and the three national credit reporting agencies for unlawfully reporting borrowers’ student loan payments in violation of the CARES Act.

    More


  • Press Releases
    May 20, 2020

    Great Lakes, Equifax, TransUnion, and Experian Sued for Damaging Millions of Student Loan Borrowers’ Credit, Mishandling Pandemic Relief

    Today, individuals representing a class of millions of student loan borrowers sued five of the nation’s largest financial companies for illegally damaging borrowers’ credit and mishandling CARES Act pandemic relief.

    More


  • Blogs
    Dec 3, 2019

    The System is Broken: What More Than a Decade of Litigation Reveals About the State of the Student Loan Industry

    The student loan industry has repeatedly demonstrated that it is unable to do business in a fair and honest manner, these cases also reveal how the absence of enforceable, industry-specific standards for common practices has left borrowers’ vulnerable to a staggering range of abuses.

    More

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