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FedLoan Servicing stopped handling federal student loan accounts on December 14, 2021. After the decision, FedLoan accounts were transferred to MOHELA, Edfinancial, Aidvantage and Nelnet.
Following the program's abolition in 2010, MOHELA began to expand its presence in the student loan servicing industry. In 2011, it was granted a contract with the Department of Education (DOE) to service over 100,000 federal student loans in 2011. Operations during loan forbearance period (2020-2023)
More than 800,000 federal student loan borrowers were late making their payment as a result of the mistake made by the servicer MOHELA (Missouri Higher Education Loan Authority), the Department of ...
The Department of Education announced Monday that it is withholding millions of dollars in payment to the student loan servicer Missouri Higher Education Loan Authority (MOHELA) over billing ...
The William D. Ford Federal Direct Loan Program (also called FDLP, FDSLP, and Direct Loan Program) provides "low-interest loans for students and parents to help pay for the cost of a student's education after high school. The lender is the U.S. Department of Education ... rather than a bank or other financial institution." [1]
In the United States, student loans are a form of financial aid intended to help students access higher education. In 2018, 70 percent of higher education graduates had used loans to cover some or all of their expenses. [1] With notable exceptions, student loans must be repaid, in contrast to other forms of financial aid such as scholarships ...
In October, the Education Department withheld $7.2 million in payment from the Missouri Higher Education Loan Authority, known as MOHELA “for its failure to send timely billing statements to 2.5 ...
The Missouri Higher Education Loan Authority, more commonly known as MOHELA, is one of the largest federal student loan servicers in the country and a central player in Biden v. Nebraska.
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