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A Missouri court will hear oral arguments for Biden's SAVE student-loan repayment plan on October 24. The SAVE plan has been blocked for months following challenges from GOP state attorneys general.
SAVE plan paused during litigation and MOHELA faces lawsuit ... allowing student loan payment cuts ... the Education Department withheld a $7.2 million payment from MOHELA as a penalty for failing ...
Additionally, a group of student-loan borrowers in California filed a lawsuit on September 5 that accused MOHELA of failing to deliver debt discharges to borrowers who have faced school misconduct ...
On October 6, 2021, the Biden administration announced a temporary waiver allowing past payments to qualify even if they had the wrong loan type or payment plan. [11] As of March 2022 100,000 people have had over $6.2 billion of student loans canceled as a result of the waiver, [ 12 ] however, many problems still persist.
The Education Department says Mohela has failed to process borrower applications for key repayment plans. The department isn't assigning new accounts to the student-loan company until it corrects ...
Any person employed full-time by a 501(c)(3) non-profit group, or another qualifying public service organization, or serving in a full-time AmeriCorps or Peace Corps position, [70] qualifies for discharge after 120 qualifying payments. [71] [72] However, loan discharge is considered taxable income. [73] Loans discharged that were not the result ...
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]
Nearly 305,000 federal student loan borrowers received an incorrect bill for October 2023 as payments resumed this month for the first time since March 2020.