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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 ...
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]
For example, Federal Student Aid announced in April that over 1 million student-loan borrowers were being transferred from Mohela to new servicers upon Mohela request to allow borrowers to receive ...
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 ...
When asked about MOHELA's unpaid contributions to state higher aid funds since 2008, Bailey responded the issue is for the Supreme Court "to sort out." [ 36 ] Advocates for student debt relief have argued that MOHELA's revenues would increase should the plan go through.
The Public Service Loan Forgiveness (PSLF) program is a United States government program that was created under the College Cost Reduction and Access Act of 2007 signed into law by President George W. Bush to provide indebted professionals a way out of their federal student loan debt burden by working full-time in public service.
The hospice business has undergone a dramatic transformation over the past decade, from a collection of small religious-affiliated entities into a booming mega industry dominated by companies seeking to reap big profits from the business of dying.
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) ...