Great Lakes Adds Services to Help Schools Address Delinquency, Default
Agreement Brings NorthStar Cohort Management Expertise to Great Lakes under a New Subsidiary
Madison, Wis. – Great Lakes Higher Education Corporation (Great Lakes) announced today that its Great Lakes Educational Loan Services, Inc. (GLELSI) subsidiary has reached an agreement that will allow it to provide an expanded set of products and services to help schools manage delinquency and reduce default.
The agreement between GLELSI, a nationwide servicer of federal and private student loans, and NorthStar Capital Markets Services, Inc. (NCMS), a provider of cohort management services, is being implemented through a new subsidiary – NorthStar Education Services LLC (NSEDS).
The agreement, effective immediately, brings NCMS expertise and employees to Great Lakes.
NorthStar Education Services LLC will enable Great Lakes to build on NCMS’s experience and commitment to further develop cohort management strategies and financial literacy services.
“I am pleased to welcome NCMS employees to the Great Lakes organization,” said Paul Thornburgh, GLELSI’s President and Chief Executive Officer. “The resources that they bring will help students and their families understand and repay loans, and will also make available to schools powerful tools to manage cohort rates.”
Through the new subsidiary, GLELSI adds important tools to its student loan servicing resources:
- Cohort management services
- Data management and reporting
- Financial literacy software
- Outreach and student engagement
Taige Thornton, who served as NCMS President, will become President & Chief Executive Officer of NSEDS, the new GLELSI subsidiary.
“GLELSI is one of the premier servicers in the industry, and I look forward to assisting in the continuing development of the resources we bring to the organization,” Thornton said.
To learn more about NSEDS products and services, visit the NSEDS website or contact your Great Lakes representative.