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The Education Department requested that Mohela provide a "corrective action plan" within 10 business days, Cardona said, along with weekly meetings with Federal Student Aid to review the servicer ...
MOHELA has faced two recent lawsuits accusing it of mismanaging borrowers' accounts. It might be time for the Education Department to consider firing a major student-loan company, a group of ...
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 ...
Following the program's abolition in 2010, MOHELA began to expand its presence in the student loan servicing industry. In 2011, it was granted a contract with the Department of Education (DOE) to service over 100,000 federal student loans in 2011.
FedLoan Servicing stopped handling federal student loan accounts on December 14, 2021. ... ended its contract with the Department of Education in 2021. As a result, millions of student loan ...
The Higher Education Loan Authority of the State of Missouri (MOHELA), a federal loan servicer, failed to send timely billing statements to 2.5 million borrowers, officials said in an Oct. 30 news ...
The American Federation of Teachers filed the lawsuit in U.S. District Court in Washington D.C. against the Missouri Higher Education Loan Authority, better known as MOHELA. The lawsuit claims the ...
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.