Great Lakes Student Loan Complaint

Great Lakes Student loan department,

Non-federal student loan Dealing with my lender or servicer Trouble with how payments are handled New Hampshire

Pulled directly from Great Lakes Borrower Services Website : How Payments Are Applied " However, when it comes to extra payment amounts ( see examples below ), after all interest and late fees due have been satisfied, we automatically apply the extra amount to the unpaid balance on the loan with the highest interest rate ( if there are multiple loans in your account ). If you do n't want the extra payment amount to be applied this way, contact us. If you, instead, want an extra payment amount to be applied to a specific loan, you must provide us with the loan 's account number and interest rate. '' I was a - major and currently work for - -. I state this so that my concern may be taken a bit more seriously as I 'm sure you receive unmerited complaints all the time. Their are multiple issues at play here, but I will start with what I assume to be the most common. I am currently in repayment on - loans with this lender ( technically it 's - - - ), - has a 8 % interest rate and the other 8.375 %. I have all


service representatives that I need to continuously call in to request that my over payments be allocated the way that I prefer and that if I do not than they will be applied proportionally to each loan. - off that is not how it should be because the borrower is at a loss in this case. - that is not how they advertise on their site which is fraudulent as well. I have been happy that they are willing to prorate my payments and make the adjustments that I prefer, but I ca n't imagine many graduates thinking this way nor looking into it. Please Help!