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If you’re pursuing Public Service Loan Forgiveness, ... were transferred to MOHELA, Edfinancial, Aidvantage and Nelnet. ... Aid Information Center at 800-433-3243 or check their credit reports ...
Many borrowers are reporting their college debts have been forgiven and are breathing a sigh of relief. From Yvette Walker:
The union states it has had to spend thousands of dollars and employee hours educating AFT members on PSLF, helping members interface with MOHELA and publicizing the situation.
MOHELA became the sole servicer for the Public Service Loan Forgiveness (PSLF) program in July 2022, following the decision of FedLoan to break its ties with the Department of Education. [ 6 ] 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 ...
The Public Service Loan Forgiveness (PSLF) program is a United States government program that was created under the College Cost Reduction and Access Act of 2007 signed into law by President George W. Bush to provide indebted professionals a way out of their federal student loan debt burden by working full-time in public service.
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 ...
Public Service Loan Forgiveness (PSLF) is a federal student loan forgiveness plan. The PSLF program forgives remaining student loan balances for borrowers in the Direct Loan program after 120 ...
According to estimates made in 2018 from the Department of Education reports, 40% of borrowers are expected to default on their loans by 2023. Over the average length of repayment which is 19 years, 250,000 students default on their loans each quarter while 1.5 trillion outstanding dollars are still supposed to be paid. [3]