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By mail: Send your payment with a payment stub to Aspire Servicing Center, P.O. Box 659705, West Des Moines, IA 50265-0970. By phone: Call 800-243-7552 or 515-243-5626 to use the automated payment ...
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 ...
Following the resumption of student loan payments in October 2023, MOHELA was fined by the DOE for failing to send billing statements to student loan borrowers on time. [9] In 2023, The Guardian reported that MOHELA "stands out among servicers for late bills and incorrect auto-debits." [7]
A MOHELA spokesperson previously told Business Insider that "providing support to student loan borrowers is the utmost priority to MOHELA, and any claims to the contrary are false."
Standard repayment borrowers have 10 years to repay. The loan servicer calculates the monthly payment amount that will pay off the original loan amount plus all accrued interest after 120 equal payments. Payments cover interest and part of the principal. Some loan terms may be shorter than 10 years.
If your card number has changed, you must add a new card. 1. Sign in to your My Account page. 2. Click My Wallet. 3. Click Payment Methods. 4. Click Add Credit or Debit Card. 5. Enter the new info. 6. Click Submit.
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.
To unblock your account, you need to confirm and authorize your payment method for an electronic fund transfer (EFT). To continue, click I Accept and continue on the notification window to confirm your payment method and authorize AOL to automatically deduct the membership fees from your debit/checking account.