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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.
Servicer Mohela plays a key role. 8 million student-loan borrowers who remain blocked from cheaper payments and debt cancellation are getting a step closer to a final decision on Biden's new ...
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]
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.
An overpayment scam, also known as a refund scam, is a type of confidence trick designed to prey upon victims' good faith.In the most basic form, an overpayment scam consists of a scammer claiming, falsely, to have sent a victim an excess amount of money.
Refund theft, also known as refund fraud, refund scam or whitehouse scam, is a crime which involves returning goods ineligible for refund to a retailer in exchange for money or other goods. The goods returned may have been acquired illegally, or they may be discarded damaged goods.
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 ...
Sometimes overpayment of large sums can be the result of mistakenly adding an extra zero to your payment. But it is also a potential sign of refund fraud or even money laundering.