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The Education Department says Mohela has failed to process borrower applications for key repayment plans. The department isn't assigning new accounts to the student-loan company until it corrects ...
In June 2020, the DOE announced that MOHELA was one of five servicers that would help oversee the federal student loan portfolio in order to bring “enhanced customer support”. [3] [4] In 2021, it was reported that some FedLoan (Pennsylvania Higher Education Assistance Agency) student servicing loans were transferred to MOHELA. [5]
The new company must honor the original terms of your student loans. That means your payments and balance won’t change at all and you will still have access to the same federal protections you ...
FedLoan Servicing stopped handling federal student loan accounts on December 14, 2021. After the decision, FedLoan accounts were transferred to MOHELA, Edfinancial, Aidvantage and Nelnet.
The current loan service providers for the Federal Student Aid (FSA) program are: Great Lakes Educational Loan Services, Edfinancial, MOHELA, Aidvantage, Nelnet, OSLA Servicing, ECSI, and the ...
With student loan forgiveness still uncertain, borrowers can expect more changes -- and perhaps some potholes -- on the road to paying down student loan debt. As part of the Biden administration's...
Additionally, a group of student-loan borrowers in California filed a lawsuit on September 5 that accused MOHELA of failing to deliver debt discharges to borrowers who have faced school misconduct ...
The Department of Education is penalizing one of its student loan servicers for failing to send billing statements on time to 2.5 million borrowers.