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MOHELA, a quasi-governmental organization in Missouri that holds a federal contract to service student loans, has been under fire for months. Teachers union sues MOHELA in federal court, says it ...
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 ...
With MOHELA being an instrumentality of Missouri, the states are saying that harm to MOHELA would harm Missouri's finances, as well. MOHELA denied involvement in the first lawsuit last summer, and ...
Website. www.mohela.com. The Higher Education Loan Authority of the State of Missouri, also known as the Missouri Higher Education Loan Authority or MOHELA is one of the largest holders and servicers of student loans in the United States. Its headquarters are in St. Louis, Missouri. Created in 1981 as a quasi-governmental entity, MOHELA ...
Public Service Loan Forgiveness. 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 ...
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) ...
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]
For example, MOHELA was the first servicer to be hit with a $7 million fine last October for failing to send on-time billing statements to over 2 million borrowers.