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The Education Department says Mohela has failed to process borrower applications for key repayment plans. The department isn't assigning new accounts to the student-loan company until it corrects ...
The American Federation of Teachers filed the lawsuit in U.S. District Court in Washington D.C. against the Missouri Higher Education Loan Authority, better known as MOHELA. The lawsuit claims the ...
The Department of Education is penalizing one of its student loan servicers for failing to send billing statements on time to 2.5 million borrowers.
In October, the Education Department withheld a $7.2 million payment from MOHELA as a penalty for failing to deliver 2.5 million billing notices on time. The billing delays resulted in 800,000 ...
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.
MOHELA has faced two recent lawsuits accusing it of mismanaging borrowers' accounts. It might be time for the Education Department to consider firing a major student-loan company, a group 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 ...
For example, Federal Student Aid announced in April that over 1 million student-loan borrowers were being transferred from Mohela to new servicers upon Mohela request to allow borrowers to receive ...