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Since student-loan payments resumed last October after a more than three-year pause, Mohela has been under scrutiny from the Education Department, lawmakers, and advocates over its handling of ...
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 ...
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 ...
As part of the U.S. federal government's response to the COVID-19 pandemic, the Federal Student Aid (FSA) office initiated a temporary pause on student loan payments alongside a 0% interest rate. [2] In June 2020, the DOE announced that MOHELA was one of five servicers that would help oversee the federal student loan portfolio in order to bring ...
The Missouri Higher Education Loan Authority (MOHELA), one of the companies the federal government contracts with the service loans, based initial payments off poverty guidelines from the wrong ...
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 ...
Payments start again in October. ... shows how the loan repayment pause has influenced behaviors, and what they’re doing to prepare for resuming payments. ... I called Mohela to check on my own ...
When the pandemic started in March 2020, all federal student loan borrowers suddenly had their student loans put on pause. Monthly payments were no longer due, interest did not accrue or compound ...