Comments on: MOHELA Student Loan Servicing Review

By: Cathie fly

Cathie fly — Sun, 08 Jan 2023 02:10:46 +0000

Update to my previous post, called MOHELA this week to check on the status of my public service forgiveness and now being told they need my W2’s but NO ONE notified me they needed anything. Keep in mind I have a forgiveness letter from the previous loan holder at the same time COVID hit and my loan servicer was changed…

By: Dia Tornatore

Dia Tornatore — Sat, 07 Jan 2023 07:17:05 +0000

MOHELA is just another private contractor fleecing taxpayers for money for work that was better and more quickly done by federal employees at lower cost. Whenever I contact them in writing on an issue regarding my PSLF temporary waiver application, I get a very belated email response about an “important message”. However, when I access my online account the message simply states that my message was received and that if I have additional questions I should call MOHELA. Which I do (after waiting on hold forever), only to be informed yet again by a very congenial “yes man” representative that yes, of course, I qualify and it’s only a matter of time until I am approved but there is a big backlog of applications. I am convinced that this is all a ruse for MOHELA to show their federal overlords that they received and answered so-and-so-many emails and phone calls over any given period of time to continue collecting taxpayer money FOR DOING ESSENTIALLY NOTHING! If they spent their time on actually substantively addressing and processing each application rather than just generating make-work to pretend they’re doing something, there might not actually be such a backlog. For me, this has been going on for over 4 months, but I know it’s much longer for others. I have written to my members of Congress demanding an investigation into these stupidly transparent attempts to collect payment without actually producing anything of value.

By: Robert Farrington

Robert Farrington — Fri, 06 Jan 2023 17:46:20 +0000

In reply to Jake. If you believe your interest rate didn't transfer correctly, you can appeal to MOHELA customer service first, and then again further to the Ombudsman's office. Realize that everything is transitioning right now - and there are a lot of data issues still being worked out. Given that there should be no interest accruing on any loans for at least the next few months, MOHELA and the Department of Education are using this time to sort out the issues. If you don't see any resolution before payments resume, you should definitely contact the ombudsman's office.

By: Jake

Jake — Fri, 06 Jan 2023 16:00:15 +0000

I have 5 loans transferred from Fedloans to MOHELA. The last 2 loans are with a lower interest rate. With fedloans they separated each loan thus the interest rate is applied for each one. However with MOHELA they bundled both loans so the interest rate is now on a higher loan than 2 lower sums with the low interest rate. It seems that the interest accumulated for the bundled loan is higher than two separate smaller loans. why is MOHELA doing this? Yes more money accumulated on interest with the bundled loan. They need to separate each loan with its interest rate.

By: Lolly

Lolly — Fri, 06 Jan 2023 02:42:16 +0000

In reply to Danielle. Hi Danielle. I agree with your comment completely. Due diligence and comprehension of student loan debt & the current Biden administration’s efforts in lock step with the Department of Education, to help relieve the burdens of compounded interest on top of compounded interest on student loans is highway robbery.