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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 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.
Borrowers can find information about their current servicer by logging into their National Student Loan Data System (NSLDS) accounts. Additionally, they can contact the Federal Student Aid ...
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 ...
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]
Find out more about the IDR plan request here. Is there a deadline for applications? The application period for student loan forgiveness will close on 31 December 2023. How to avoid student loan scams
Student loan interest starts cranking up again Sept. 1. Payments start again in October. Borrowers, are you ready? No matter your political beliefs, I bet a lot of you were on the edge of your ...