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Following the program's abolition in 2010, MOHELA began to expand its presence in the student loan servicing industry. In 2011, it was granted a contract with the Department of Education (DOE) to service over 100,000 federal student loans in 2011. Operations during loan forbearance period (2020-2023)
More than 800,000 federal student loan borrowers were late making their payment as a result of the mistake made by the servicer MOHELA (Missouri Higher Education Loan Authority), the Department of ...
The Department of Education announced that MOHELA would be the new servicer for participants in those programs. If you previously used autopay with FedLoan, the information will automatically ...
The department said MOHELA “failed to meet its basic obligation” of getting the statements out in a reasonable timeframe, resulting in 2.5 million borrowers getting late statements.
The Department of Education reported that 2,215 borrowers had the remainder of their respective student loans forgiven under the program as of April 30, 2020 for a denial rate of 98.5%. The PSLF program has received criticism and has been the subject of litigation by loan-holders trying to discharge their student loans.
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.
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.
navient .com. Navient Corporation is an American student loan servicer based in Wilmington, Delaware. Managing nearly $300 billion in student loans for more than 12 million debtors, the company was formed in 2014 by the split of Sallie Mae into two distinct entities: Sallie Mae Bank and Navient. Navient employs 6,000 people at offices across ...
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