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By August 2022, MOHELA was responsible for overseeing some 6.7 million student borrower accounts on the DOE's behalf, along with around 330,000 private loan borrowers. [1] This increased to over 7.5 million borrowers by August 2023. [7] As of December 2022, MOHELA has a 1.01 star rating from the Better Business Bureau. [8]
A Mohela spokesperson told BI that the servicer "is surprised by FSA's sudden change in direction and communication" after the Education Department recently gave it new borrower accounts.
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."
MOHELA, one of six federal student loan servicers, is facing a lawsuit over claims of mismanaging federal loan accounts. On July 22, the American Federation of Teachers (AFT) ...
Shamrock Holdings, or Shamrock, is a private equity firm founded as the Roy E. Disney family's investment firm; the Disney family remains its sole investor. Shamrock is a private corporation, and is fully owned by the estate of Roy E. Disney. Disney was the chairman of Shamrock, and Stanley Gold was its president and CEO. Shamrock assets ...
Workday, Inc., is an American on‑demand (cloud-based) financial management, human capital management, and student information system software vendor. Workday was founded by David Duffield, founder and former CEO of ERP company PeopleSoft, along with former PeopleSoft chief strategist Aneel Bhusri, following Oracle's acquisition of PeopleSoft in 2005.
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 ...
MOHELA services nearly 8 million borrowers after winning a contract in 2022 to handle the Education Department’s Public Service Loan Forgiveness program. Mike Pierce, executive director of the ...