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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 ...
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 “enhanced customer support”. [3] [4] In 2021, it was reported that some FedLoan (Pennsylvania Higher Education Assistance Agency) student servicing loans were transferred to MOHELA. [5]
Although Cornerstone was contracted to service loans through 2022, the contract was ended due to Cornerstone’s financial losses in October 2020. ... MOHELA, Nelnet, Aidvantage or Edfinancial.
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.
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Biden v. Nebraska, 600 U.S. 477 (2023), was a United States Supreme Court case related to the forgiveness of federal student loans by the Biden administration in 2022, challenged by multiple states. The Supreme Court's ruling was issued on June 30, 2023, ruling 6–3 that the Secretary of Education did not have the power to waive student loans ...
SoFi Technologies, Inc. SoFi Technologies, Inc. (abbreviated as SoFi) is an American personal finance and financial technology company. [3] Founded in 2011 at Stanford University, [4][5][6] it operates as a direct bank and supports other financial institutions through its technology platform. [7][8][9] As of 2024, SoFi reports 9.4 million ...
While MOHELA has not yet issued a press release in response to this lawsuit, it denied similar claims in an April cease and desist letter to the SBPC. It stated its customer service strategies ...