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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 ...
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 ...
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 ...
The Department of Education's announcement comes a week after a department spokesperson said 305,000 federal student loan borrowers received an incorrect bill for October 2023 from MOHELA.
The National Student Loans Service Centre (NSLSC) is an agency created by the Canada Student Loans Program (CSLP) where Canadian Federal loan holders manage their student loan. The NSLSC manages CSLP (Federal) loans as well as provincially-integrated loans for the following provinces: British Columbia, Saskatchewan, Ontario, New Brunswick, and ...
The Public Service Loan Forgiveness (PSLF) program is a United States government program that was created under the College Cost Reduction and Access Act of 2007 signed into law by President George W. Bush to provide indebted professionals a way out of their federal student loan debt burden by working full-time in public service.
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. Student loan servicer MOHELA penalized for ...
It stated its customer service strategies conformed to guidelines from the Education Department’s Office of Federal Student Aid. ... a $7.2 million payment from MOHELA as a penalty for failing ...