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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.
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 ...
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 ...
PLUS loans, which are part of the Federal Direct Student Loan Program; Federal GradPLUS loans; 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.
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.
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]
The Missouri Higher Education Loan Authority (MOHELA) took a drubbing at a Senate hearing Wednesday after a report from Democrats accused the student loan servicer of millions of billing errors ...
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 ...
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