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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 ...
The Department of Education's announcement comes a week after a department spokesperson said 305,000 federal student loan borrowers received an incorrect bill for October 2023 from MOHELA.
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 ...
By August 2022, MOHELA was responsible for overseeing some 6.7 million student borrower accounts on the DOE's behalf, along with around 330,000 private loan borrowers. [1] This increased to over 7.5 million borrowers by August 2023. [7] As of December 2022, MOHELA has a 1.01 star rating from the Better Business Bureau. [8]
For example, Federal Student Aid announced in April that over 1 million student-loan borrowers were being transferred from Mohela to new servicers upon Mohela request to allow borrowers to receive ...
EFTPS allows individuals and businesses to make their tax and estimated tax payments securely online using their bank accounts. Payments can be made only after enrolling in the system, and the enrollment process can take about a week (initial online enrollment is followed by relevant information being sent by physical mail, after which the online enrollment process may be completed).
Today, tax preparation remains a highly unregulated industry and around 60% of all taxpayers turn to a paid preparation service. The longevity of the VITA program is dependent on funding being approved and provided by Congress. The last official act to support the IRS initiative was made in 2017.
Many borrowers are reporting their college debts have been forgiven and are breathing a sigh of relief. From Yvette Walker: