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Nelnet. The transfer was completed in 2023. ... they can contact the Federal Student Aid Information Center at 800-433-3243 or check their credit reports to find out who their new servicer is ...
Nelnet, Inc., is a United States–based conglomerate that primary focused on financial services including student and consumer loan origination and servicing. Additionally, the company operates an investing arm, an internet bank and owns Allo Fiber, a cable and internet provider.
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.
It was one of the four largest companies which service United States federal student loans: Great Lakes, Nelnet, Navient, and the Pennsylvania Higher Education Assistance Agency. [2] In 2018, the loan servicing part of the organization was sold to Nelnet.
It provides current and future borrowers with free services, [4] and employs an ombudsman to assist with complaints and disputes, questions, and to clarify processes. [5] It also provides free assistance with financial aid forms to students through college access centers known as The College Place, [ 6 ] as well as scholarships to students in ...
Key takeaways. CornerStone was previously one of eight approved federal student loan servicing agencies that provided loans nationwide. Although Cornerstone was contracted to service loans through ...
The False Claims Suit was filed on behalf of the federal government by former DOE researcher Dr. Jon Oberg against Sallie Mae, Nelnet, and other lenders. Oberg argued that the lenders overcharged the United States Government and defrauded taxpayers of over $22 million. In August 2010, Nelnet settled and paid $55 million. [132]
On July 27, 2006, Peterson's was acquired by the Nelnet family of companies. [3] Peterson's has acquired several companies in the educational space, including the Dean Vaughn Total Retention System in 2015 and the Peterson's Velocity (formerly Mind Streams) in 2016. [4] [5] On December 31, 2017, Peterson's was acquired by Triangle Digital ...