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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. Student loan servicer MOHELA penalized for ...
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MOHELA was founded by Missouri lawmakers in 1981 to oversee loans guaranteed by the U.S. federal government through the Federal Family Education Loan Program.Following the program's abolition in 2010, MOHELA began to expand its presence in the student loan servicing industry.
A federal judge temporarily blocked Biden's second try at broader student-loan forgiveness. Student-loan company MOHELA played a central role in the GOP-led states' argument to block the relief.
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 ...
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) ...
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