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Additionally, they can contact the Federal Student Aid Information Center at 800-433-3243 or check their credit reports to find out who their new servicer is. What happened to Public Service Loan ...
The Education Department requested that Mohela provide a "corrective action plan" within 10 business days, Cardona said, along with weekly meetings with Federal Student Aid to review the servicer ...
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]
Given the lawsuits' accusations of "MOHELA's billing errors, poor customer service record, and decisions to avoid public and private accountability at every turn, we request that ED immediately ...
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 Origins of the Student Loan Industry in the United States: Richard Cornuelle, United Student Aid Funds, and the Creation of the Guaranteed Student Loan Program." Journal of American History 110(4): 667–688. Loonin, Deanne. Student loan law: Collections, intercepts, deferments, discharges, repayment plans, and trade school abuses.
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.
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 ...