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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.
It also states MOHELA has not properly tracked public servants’ progress toward student loan forgiveness. Many of AFT’s members are seeking forgiveness under PSLF.
The Department of Education's announcement comes a week after a department spokesperson said 305,000 federal student loan borrowers received an incorrect bill for October 2023 from MOHELA.
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 ...
Many borrowers are reporting their college debts have been forgiven and are breathing a sigh of relief. From Yvette Walker:
Student loan forgiveness for public-sector workers like teachers and nurses will be temporarily paused beginning May 1 as the Department of Education moves management of the program in-house.
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 ...
If you work in public service with federal, state, local government or certain nonprofit organizations, you are eligible to have your student debt forgiven after 10 years of payments through the ...
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