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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. Student loan servicer MOHELA penalized for ...
Under the program, eligible public servants, including social workers and teachers, are able to have their debt cancelled after 10 years of service and 120 loan payments made on-time. [13] Student loan borrowers eligible for PSLF relief have filed suit against MOHELA, accusing the servicer of delaying the cancellation of their debt and forcing ...
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 ...
Since student-loan payments resumed last October after a more than three-year pause, Mohela has been under scrutiny from the Education Department, lawmakers, and advocates over its handling of ...
The current loan service providers for the Federal Student Aid (FSA) program are: Great Lakes Educational Loan Services, Edfinancial, MOHELA, Aidvantage, Nelnet, OSLA Servicing, ECSI, and the ...
Student loans may be discharged through bankruptcy, but this is difficult. [2] Research shows that access to student loans increases credit-constrained students' degree completion, later-life earnings, and student loan repayment while having no impact on overall debt. [3]
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FedLoan Servicing stopped handling federal student loan accounts on December 14, 2021. After the decision, FedLoan accounts were transferred to MOHELA, Edfinancial, Aidvantage and Nelnet.