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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]
FedLoan Servicing stopped handling federal student loan accounts on December 14, 2021. ... The Department of Education announced that MOHELA would be the new servicer for participants in those ...
However, FedLoan stopped servicing federal student loans after December 2022 and the Department of Education then transferred the loans it was servicing to Nelnet, Edfinancial, Aidvantage or MOHELA.
The loan servicer’s customer service team is available from 8 a.m. to 6 p.m. CT Monday through Friday, and you can reach them at 800-243-7552 or 515-243-5626.
As of July 2023, the four companies which service the majority of student loans are Aidvantage, EdFinancial Services, MOHELA (Higher Education Loan Authority of the State of Missouri) and Nelnet. [40]
When MOHELA began taking over contracts from FedLoan Servicing last year, the Washington Post reported, the Consumer Financial Protection Bureau received more than 500 complaints about incorrect ...
It also states MOHELA has not properly tracked public servants’ progress toward student loan forgiveness. Many of AFT’s members are seeking forgiveness under PSLF.
Student loan interest starts cranking up again Sept. 1. ... Most of the celebration is going on in the Public Service Loan Forgiveness Facebook group, formed in 2018 to build a support community ...