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Federal student loan consolidation; Number of student loans serviced. In a letter to members of the U.S. Senate, MOHELA stated that it serviced 2,464,028 student loan borrowers on February 1, 2020. This number increased to 7,773,939 by August 3, 2023.
PHEAA conducts its student loan servicing activities nationally as FedLoan Servicing and American Education Services (AES). FedLoan Servicing was established in 2009 to support the U.S. Department of Education's ability to service student loans owned by the federal government, and is one of a limited number of organizations approved by the ...
As of July 2023, the four companies which service the majority of student loans are Aidvantage, EdFinancial Services, MOHELA (Higher Education Loan Authority of the State of Missouri) and Nelnet. ECSI (Educational Computer Systems, Inc.) is the exclusive servicer for the remaining Perkins Loans.
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 Monday that it is withholding millions of dollars in payment to the student loan servicer Missouri Higher Education Loan Authority (MOHELA) over billing ...
Most of the celebration is going on in the Public Service Loan Forgiveness Facebook group, formed in 2018 to build a support community of federal student loan borrowers.
The Public Service Loan Forgiveness (PSLF) program is a United States government program that was created under the College Cost Reduction and Access Act of 2007 signed into law by President George W. Bush to provide indebted professionals a way out of their federal student loan debt burden by working full-time in public service. [1]
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.