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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 ...
Key takeaways. FedLoan Servicing stopped handling federal student loan accounts on December 14, 2021. After the decision, FedLoan accounts were transferred to MOHELA, Edfinancial, Aidvantage and ...
In response, the department announced it is withholding a $7.2 million payment to student loan servicer MOHELA for not providing student loan bills on time. The Education Department said 2.5 ...
MOHELA became the sole servicer for the Public Service Loan Forgiveness (PSLF) program in July 2022, following the decision of FedLoan to break its ties with the Department of Education. [ 6 ] By August 2022, MOHELA was responsible for overseeing some 6.7 million student borrower accounts on the DOE's behalf, along with around 330,000 private ...
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. [40] ECSI (Educational Computer Systems, Inc.) is the exclusive servicer for the remaining Perkins Loans.
Blunt proposed selling Missouri's student loan agency, known as MOHELA, and using the proceeds to pay for endowments and new construction for the state's public universities. [32] In the area of elementary and secondary education, Blunt has proposed that school districts be required to spend at least 65% of their budgets on student instruction.
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 ...
On 25 September 2023, Perez Medcare Hospital released a statement confirming MohBad was pronounced dead on arrival at the hospital.. We consider it pertinent to put on record that at about 04:30 pm on the 12th of September 2023, the lifeless body of Mr. Ilerioluwa Oladimeji Aloba (AKA Mohbad) was brought to our medical facility and our medical team immediately sprang into action and after ...