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It was the first servicer to receive a punishment from the department last year — on October 30, 2023, the department announced it would be withholding $7.2 million in pay from Mohela over its ...
In October, the Education Department withheld a $7.2 million payment from MOHELA as a penalty for failing to deliver 2.5 million billing notices on time. The billing delays resulted in 800,000 ...
Servicer Mohela plays a key role. 8 million student-loan borrowers who remain blocked from cheaper payments and debt cancellation are getting a step closer to a final decision on Biden's new ...
Student borrowers' complaints against MOHELA include: [14] [15] Charges for late payments due to delayed processing of those made to the Department of Education (DOE) before the transfer; Failure to process borrowers' forms; Suspension of auto-payment programs; Changes to borrower's selected repayment plan and unwanted forbearances and deferments
In October 2023, the Department of Education announced that it would withhold $7.2 million in payment to the Missouri Higher Education Loan Authority (MOHELA) for failing to send billing statements on a timely basis to 2.5 million borrowers that caused 800,000 borrowers to fall into delinquency and the Department directed MOHELA to place all ...
The Public Service Loan Forgiveness (PSLF) program is a United States government program that was created under the College Cost Reduction and Access Act of 2007 signed into law by President George W. Bush to provide indebted professionals a way out of their federal student loan debt burden by working full-time in public service.
Student loan interest starts cranking up again Sept. 1. Payments start again in October. Borrowers, are you ready? No matter your political beliefs, I bet a lot of you were on the edge of your ...
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