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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 ...
MOHELA has been in the student loan business for more than 40 years. Missouri state legislators created it in 1981 to provide low-cost loans for students and a source of revenue for the state.
The Higher Education Loan Authority of the State of Missouri, also known as the Missouri Higher Education Loan Authority or MOHELA is one of the largest holders and servicers of student loans in the United States. Its headquarters are in St. Louis, Missouri . Created in 1981 as a quasi-governmental entity, MOHELA participated in the Federal ...
MOHELA did have trouble when student loans were turned back on and was fined more than $7 million by the Department of Education for sending out the wrong balances to 2.5 million borrowers.
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.
Student loan interest starts cranking up again Sept. 1. Payments start again in October. ... I called Mohela to check on my own account and asked why debts seem to be updated and forgiven faster ...
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