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The servicer works with private and federal student loans and assists borrowers in answering questions about billing and payment options. MOHELA is able to collect payments, inform borrowers about ...
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 ...
The federally contracted student loan servicer MOHELA (Missouri Higher Education Loan Authority) is currently tasked with servicing the accounts of these borrowers.
The decision came down a month ago, but something new seems to be happening with lender Mohela and at studentaid.gov. Last week, there was a lot of celebrating going on in social media.
Since 2022, MOHELA has been tasked with handling student loan payments from borrowers who are seeking debt cancellation from the Public Service Loan Forgiveness program, which wipes away remaining ...
Public Service Loan Forgiveness. 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 ...
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.
MOHELA was fined $7.2 million by the Department of Education in October, during the student loan payment restart, because the company sent out the wrong balances to 2.5 million borrowers, causing ...