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A Missouri judge blocked student-loan forgiveness under the SAVE plan and will soon hear oral arguments on the case. Servicer Mohela plays a key role.
If the plan is approved and implemented, 25 million federal student loan borrowers may receive student loan forgiveness. In other student loan forgiveness news, the U.S. 8th Circuit Court of ...
Many borrowers are reporting their college debts have been forgiven and are breathing a sigh of relief. From Yvette Walker:
The Education Department says Mohela has failed to process borrower applications for key repayment plans. The department isn't assigning new accounts to the student-loan company until it corrects ...
Additionally, a group of student-loan borrowers in California filed a lawsuit on September 5 that accused MOHELA of failing to deliver debt discharges to borrowers who have faced school misconduct ...
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]
About 2.5 million borrowers did not get a timely statement from the loan servicer ahead of the resumption of federal student loan payments this month.
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 ...