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The Department of Education is penalizing one of its student loan servicers for failing to send billing statements on time to 2.5 million borrowers.
The Higher Education Loan Authority of the State of Missouri (MOHELA), a federal loan servicer, failed to send timely billing statements to 2.5 million borrowers, officials said in an Oct. 30 news ...
The loans will still be held by a student loan servicer. But MOHELA will no longer be the only servicer handling the loans of borrowers enrolled in PSLF. An estimated 1 million borrowers could ...
In response, the department announced it is withholding a $7.2 million payment to student loan servicer MOHELA for not providing student loan bills on time. The Education Department said 2.5 ...
The Missouri Higher Education Loan Authority (MOHELA), one of the companies the federal government contracts with the service loans, based initial payments off poverty guidelines from the wrong ...
As part of the U.S. federal government's response to the COVID-19 pandemic, the Federal Student Aid (FSA) office initiated a temporary pause on student loan payments alongside a 0% interest rate. [2] 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 ...
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 ...
As a result of ongoing litigation, 8 million federal student loan borrowers enrolled in the Saving On A Valuable Education (SAVE) plan will not have to make their monthly payments until further ...