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The Washington Post noted that student borrower complaints against MOHELA spiked from 2021 to 2022: The Consumer Financial Protection Bureau (CFPB) went from receiving seven official complaints regarding MOHELA in the last quarter of 2021, to receiving over 500 complaints in the last three months of 2022 over MOHELA's loan servicing practices. [13]
A Missouri court will hear oral arguments for Biden's SAVE student-loan repayment plan on October 24. The SAVE plan has been blocked for months following challenges from GOP state attorneys general.
Select private student loan borrowers may be eligible for student loan forgiveness through former servicer Navient. Plus, more sweeping student loan cancellation was announced for federal ...
Additionally, a group of student-loan borrowers in California filed a lawsuit on September 5 that accused MOHELA of failing to deliver debt discharges to borrowers who have faced school misconduct ...
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 10 years, the loan program experienced 230% growth in the loan portfolio and 130% growth in the loan recipients. Student loan debt in 2019 is the highest it has ever been. According to the latest loan debt statistics, student loan debt has become the second highest consumer debt category behind mortgage debt. [15]
It also states MOHELA has not properly tracked public servants’ progress toward student loan forgiveness. Many of AFT’s members are seeking forgiveness under PSLF.
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