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The Education Department requested that Mohela provide a "corrective action plan" within 10 business days, Cardona said, along with weekly meetings with Federal Student Aid to review the servicer ...
The company was founded in 1994 in Minnesota. [13] In March 2010, the company was the target of data theft. The personal information on 3.3 million student-loan borrowers was taken. [15] In March 2018, ECMC Foundation launched its Education Innovation Ventures portfolio. [16] In February 2018, ECMC Group moved its headquarters to Minneapolis ...
Hundreds of student-loan borrowers who applied for debt cancellation are being denied relief by a major lender, over 20 Democratic lawmakers say Ayelet Sheffey Updated December 12, 2024 at 10:07 AM
SLM Corporation (commonly known as Sallie Mae; originally the Student Loan Marketing Association) is a publicly traded U.S. corporation that provides consumer banking.Its nature has changed dramatically since it was set up in the early 1970s; initially a government entity that serviced federal education loans, it then became private and began offering private student loans.
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 company’s online product offering was successful and led to over 800% growth in 2020 from $100 million in revenue to $800 million in annual revenue. [14] In October 2022, the company announced that it surpassed $100 billion in loans funded, the first fintech company to reach that milestone. [15]
"Hey, it's Elizabeth with Student Advisors," a warm, professional voice began in a voicemail left on Sept. 13, weeks after the Biden administration announced it would be offering up to $20,000 in ...
The organization also calls for the removal of exemptions given uniquely to the student loan industry from Fair Debt Collection Practices Act, the Truth in Lending Act, and state usury laws. [1] StudentLoanJustice.org has 16,080 members in its Facebook group [ 2 ] and additional members in its various mailers and lists.