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A major student-loan company is being punished for preventing over 460,000 borrowers from accessing cheaper monthly payments Ayelet Sheffey Updated October 18, 2024 at 11:25 AM
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.
In response, the department announced it is withholding a $7.2 million payment to student loan servicer MOHELA for not providing student loan bills on time. The Education Department said 2.5 ...
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. [13]
Millions of student-loan borrowers' payments are being 'wildly' mismanaged by a major servicer — and it might be time to terminate its contract, over 50 Democratic lawmakers say Ayelet Sheffey ...
• Fake email addresses - Malicious actors sometimes send from email addresses made to look like an official email address but in fact is missing a letter(s), misspelled, replaces a letter with a lookalike number (e.g. “O” and “0”), or originates from free email services that would not be used for official communications.
An overpayment scam, also known as a refund scam, is a type of confidence trick designed to prey upon victims' good faith.In the most basic form, an overpayment scam consists of a scammer claiming, falsely, to have sent a victim an excess amount of money.
Some student loan borrowers were put into administrative forbearance until their correct payment amount is calculated. 305,000 student loan borrowers incorrectly billed as payments resume Skip to ...