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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]
Key takeaways. FedLoan Servicing stopped handling federal student loan accounts on December 14, 2021. After the decision, FedLoan accounts were transferred to MOHELA, Edfinancial, Aidvantage and ...
A Mohela spokesperson told BI that the servicer "is surprised by FSA's sudden change in direction and communication" after the Education Department recently gave it new borrower accounts.
SoFi Technologies, Inc. (abbreviated as SoFi) is an American personal finance and financial technology company. [3] Founded in 2011 at Stanford University , [ 4 ] [ 5 ] [ 6 ] it operates as a direct bank and supports other financial institutions through its technology platform .
The decision came down a month ago, but something new seems to be happening with lender Mohela and at studentaid.gov. Last week, there was a lot of celebrating going on in social media.
The U.S. Department of Education contracts with companies to manage, or service, the loans it owns. These companies are the primary point of contact for borrowers after they graduate and enter repayment. A student loan servicer is a company which facilitates different aspects of a loan.
To make sure you receive these updates, update your contact information with your federal student loan servicer and with studentaid.gov. Keep a sharp eye out for new emails or communication from ...
Anthony Noto (born 2 May 1968) is an American businessman and the CEO of SoFi. Previously, he was a managing director at Goldman Sachs , CFO of the National Football League , COO of Twitter , [ 2 ] and head of Twitter Ventures.
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