Great Lakes Credit Union

in Private Student Loans

Claimed Visit Site

Great Lakes Credit Union


in Private Student Loans

Not enough votes for recommendation

Not enough votes for recommendation

Cast your vote
Cast your vote

Would you recommend Great Lakes Credit Union to your friends?

Thanks for your vote!

Thanks for your vote!

You voted: May or may not recommend


Where does Great Lakes Credit Union do business?

Great Lakes Credit Union is a credit union based in Bannockburn, IL. It was founded in 1938 and offers student loans in 2 states across the USA.

What rates does Great Lakes Credit Union offer for in-school private student loan?

Great Lakes Credit Union has a variable APR that ranges from 4.39% up to 10.51%.

Many students have little or no credit history when they start college. By having a parent or other creditworthy individual cosign the loan, the student may improve their chance of approval or qualify for lower interest rates.

How much can you borrow from Great Lakes Credit Union?

Available loan amounts may vary by applicant but Great Lakes Credit Union has a minimum loan amount of $2,500 and offers loans up to $150,000.

Does Great Lakes Credit Union charge an origination fee?

No, Great Lakes Credit Union does not charge a loan origination fee.

A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees. 

Does Great Lakes Credit Union charge prepayment fees?

No, Great Lakes Credit Union does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.

What terms does Great Lakes Credit Union offer?

Great Lakes Credit Union provides repayment terms ranging from 5 to 20 years.

Great Lakes Credit Union offers borrowers unemployment protection. This means that if you lose your job -- or you have just finished school -- your loan payments are placed on a temporary hold.

What type of borrowers will Great Lakes Credit Union consider?

Great Lakes Credit Union considers loans applications from:

  • undergraduate students
  • graduate students

What do you need to qualify for a loan with Great Lakes Credit Union?

Applicants with a credit score of at least 660 can apply for a loan via Great Lakes Credit Union.

Note that borrowers can add a cosigner to the loan to either meet eligibility requirements or qualify for lower interest rates.

Great Lakes Credit Union only considers borrowers who are employed

Only U.S. citizens and permanent residents can apply for a loan.

To qualify, applicants may need to provide the following documentation:

  • Driver's license
  • Proof of identity
  • Proof of citizenship or residence permit
  • Proof of income
SUPERMONEY Disclosure: is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...


Alaska Alabama Arkansas Arizona California Colorado Connecticut Washington, D.C. Delaware Florida Georgia Hawaii Iowa Idaho Illinois Indiana Kansas Kentucky Louisiana Massachusetts Maryland Maine Michigan Minnesota Missouri Mississippi Montana North Carolina North Dakota Nebraska New Hampshire New Jersey New Mexico Nevada New York Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Virginia Vermont Washington Wisconsin West Virginia Wyoming
  Available in 2 states
  • Illinois
  • Wisconsin

Feature Breakdown

Grace Period for Late Payment (Days) 6
No Origination Fee  
No Prepayment Fee  
Cosigner Optional  
Credit Score Range 660 - 850
850 300 660
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Verification Documents Required
  • Proof of Identity
  • Proof of Income
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
Funding Time Range (in days) 1 - 7
Unemployment Protection  
Good Student Rewards  
Payment Options
  • Automatic Payments
Variable APR 4.39% - 10.51%
Loan Amount $2.5K - $150K
Loan Term (Years) 5 - 20
Up to Cost of Attendance  

Be the first to rate


Would you recommend Great Lakes Credit Union to your friends?

Before we publish your vote:

Please explain your vote by sharing your experience.

Writing a review increases the credibility of your vote and helps your fellow users make a better-informed decision.

Please write a review to submit your vote
Cancel my vote
(will require moderator approval)

Other Private Student Loans