Student Loans MOHELA: What you Need to Know

Student Loans MOHELA: What you Need to Know
Last Updated: January 26, 2024

MOHELA stands for the Missouri Higher Education Loan Authority. It is a nonprofit organization that services and manages student loans on behalf of the U.S. Department of Education and other lenders. MOHELA works with borrowers to help them understand their repayment options, manage their loans, and provide assistance throughout the loan repayment process. As a loan servicer, MOHELA handles tasks such as processing payments, managing borrower accounts, and providing customer service to borrowers. They also offer various resources and tools to help borrowers make informed decisions about their student loans.

It's important to note that MOHELA is just one of several loan servicers in the United States. Depending on your student loan type, it may be serviced by MOHELA or another organization. If you have specific questions about your student loans or need assistance, it's best to contact MOHELA directly or visit their website for more information.

Are you navigating the complex world of student loans? If so, understanding the role of loan servicers like MOHELA (Missouri Higher Education Loan Authority) is essential. Targeted towards students, graduates, and anyone with federal student loans, this article will delve into the key aspects of MOHELA's services.

This article will equip you with the knowledge to make informed decisions regarding your student loans. The article explores the benefits of having MOHELA as your loan servicer, highlights its customer service offerings, and explains how to utilize its online platform effectively. By the end of this article, you'll have a comprehensive understanding of MOHELA's role in managing your student loans.

Related: Student Loans Nelnet: Everything you need to know

Understanding Federal Student Loans and Loan Servicers

A federal student loan is made available by the government of the United States to qualified students or their parents/guardians to help with the costs of higher education. They are a good option for financing education because the funds come straight from the government. Millions of students in the United States rely on federal student loans to finance their higher education.

Because the federal government supplies these loans, they have better conditions and repayment alternatives than private loans. However, handling federal student loans necessitates collaboration with loan servicers such as MOHELA.

Federal student loans are intended to assist students and their families in paying tuition, fees, books, and other educational expenses. These loans usually have set interest rates that are lower than those given by private lenders. Furthermore, federal student loans sometimes provide flexible repayment schedules and multiple alternatives for loan forgiveness or discharge under specific conditions.

The U.S. Department of Education has given organizations like MOHELA permission to handle the administrative aspects of federal student loans. They serve as a bridge to facilitate communication and effective loan servicing between the government and the borrower.

Loan servicers, such as MOHELA, handle a variety of crucial activities, such as processing loan payments, updating borrower information, and assisting borrowers in understanding their repayment alternatives. They are the borrowers' principal point of contact during the life of their loans, providing vital services and assistance.

Loan servicers help borrowers choose and manage their repayment strategies, including choices for income-driven repayment that adjust monthly payments based on the borrower's income and family size. They also offer advice on forbearance and deferral alternatives for debtors experiencing financial difficulty or other qualified situations.

Loan servicers are essential for teaching borrowers about their rights and obligations and handling loan payments. They offer services and tools to assist borrowers in comprehending loan conditions, navigating the repayment process, and making wise financial decisions.

Related: Federal Employee Loans: A Guide

Mohela student loans

The Role of MOHELA in Managing Student Loans


MOHELA (Missouri Higher Education Loan Authority) plays a vital role in managing federal student loans as a loan servicer approved by the U.S. Department of Education. Below are MOHELA's main responsibilities:

1. Loan administration

MOHELA is responsible for handling the administrative tasks associated with federal student loans. They facilitate the processing of loan payments, ensuring that borrowers' payments are accurately applied to their loan accounts. This includes managing billing statements, providing payment options, and maintaining accurate records of loan transactions.

2. Account Management

MOHELA manages borrowers' loan accounts during the repayment period and acts as their main point of contact. Borrowers are given online access to examine their loans' terms, make payments, and change their personal information. To guarantee that borrowers receive correct and recent information, MOHELA also assists with account-related queries.

3. Repayment Assistance

One of MOHELA's main responsibilities is to help borrowers understand and choose the best repayment plans. They provide direction on various repayment choices, including conventional programs, income-driven repayment plans, and extended plans. MOHELA may assist borrowers in evaluating their financial status and selecting the plan that most closely matches their requirements and scenario.

4. Customer Service

Borrowers can count on receiving top-notch customer service from MOHELA. They have a devoted customer service team accessible to respond to queries, offer loan-related details, and help with any problems or worries clients may experience. There are several ways to contact MOHELA's customer care, including by phone, email, and online chat.

5. Loan Counseling

To assist borrowers in efficiently managing their student loans, MOHELA provides loan counselling services, loan administration, and customer support. They assist borrowers who may want aid with budgeting, comprehending loan conditions, or looking into repayment choices by offering instructional materials, financial literacy tools, and coaching.

6. Communication and Notifications

MOHELA informs borrowers of significant developments, modifications to the conditions of the loan, and any obligations or deadlines they should be aware of. They engage with borrowers using various methods, including email, postal mail, and online alerts, to ensure they are informed and have the knowledge they need to manage their loans properly.

Related: Federal Employee Loans: A Guide

Exploring the Benefits of MOHELA as a Student Loan Servicer

MOHELA (Missouri Higher Education Loan Authority), a loan servicer authorized by the U.S. Department of Education, provides various advantages to borrowers with federal student loans. By knowing these advantages, borrowers may handle their loans with knowledge. The following are some benefits of having MOHELA manage your loan servicing:

1. Customer Service:

MOHELA representatives are dedicated to assisting borrowers promptly and professionally, addressing their concerns. Whether you have questions about repayment options or loan forgiveness programs or need guidance on managing your loans, MOHELA's customer service team can provide reliable support.

2. User-Friendly Online Platform:

The user-friendly online platform MOHELA provides enables borrowers to access their loan information, make payments, and manage their accounts. Borrowers can access the web portal's safe and user-friendly layout to navigate loan details, examine payment history, update personal information, and investigate resources. By simplifying the loan administration process, MOHELA's online tools help save borrowers time and energy.

3. Assistance with Repayment Options:

MOHELA can help borrowers understand and choose the repayment plan best suits their financial situation. They advise on several repayment choices, including income-driven repayment programs that can adjust monthly payments based on the borrower's income and family size. This help makes sure that borrowers have the knowledge they require to decide wisely and select the repayment option that best suits their needs.

4.  Loan Forgiveness Programs

MOHELA offers support and information on loan forgiveness programs. They can help borrowers navigate initiatives like Public Service Loan Forgiveness (PSLF), which provides loan forgiveness to deserving borrowers with nonprofit or public sector jobs. MOHELA may assist borrowers with understanding qualifying requirements, completing the application procedure, and maintaining their progress towards loan forgiveness.

5. Financial Education Resources

In addition to loan servicing, MOHELA is dedicated to promoting financial literacy and providing educational resources to borrowers. They offer financial planning tools, budgeting assistance, and loan management guidance. These resources empower borrowers to make informed financial decisions, develop sound money management habits, and maintain financial stability beyond their student loan obligations.

6. Community Involvement and Support

MOHELA actively collaborates with the community schools, colleges, and organizations. They provide support through scholarships, financial aid information, and initiatives to promote access to higher education. MOHELA's commitment to the community reinforces its dedication to supporting educational opportunities and serving borrowers' needs.

By having MOHELA as your loan servicer, you can benefit from their reliable customer service, user-friendly online platform, guidance on repayment options and loan forgiveness programs, access to financial education resources, and community support initiatives. These advantages contribute to a smoother loan management experience and assist borrowers in making informed financial decisions.

Related: Job Description of Loan Processor

Loan Transfer Process: How Loans Are Assigned to MOHELA

When it comes to federal student loans, the loan transfer process involves the assignment of loans to loan servicers like MOHELA (Missouri Higher Education Loan Authority). Understanding how this transfer process works can help borrowers navigate their loan management effectively. Here's an overview of how loans are assigned to MOHELA:

1. Loan Origination:

The Direct Loan Program of the U.S. Department of Education is normally where federal student loans originate. Borrowers must provide all required documentation when applying for federal student loans, including the Free Application for Federal Student Aid (FAFSA). The Department of Education assesses loan eligibility and grants the loan based on the information given.

2. Loan Servicer Assignment:

After loan origination, the Department of Education assigns the loan to a loan servicer, such as MOHELA. The assignment process may involve various factors, including the loan servicer's capacity, geographical considerations, and the specific contract arrangements between the Department of Education and the loan servicers.

3. Notification to Borrowers:

Once the loan is assigned to MOHELA, the Department of Education typically notifies borrowers about the change in loan servicers. This notification can occur through various means, such as email, postal mail, or online account updates. It's important for borrowers to carefully review these communications to stay informed about the loan transfer and any subsequent actions they need to take.

4. Continuity of Loan Servicing:

During the loan transfer process, borrowers must continue making payments as required by their original loan terms. Until borrowers receive a communication confirming the loan transfer to MOHELA, they should continue working with their previous loan servicer and making payments to the designated payment address provided by that servicer.

5. Account Setup and Communication:

Borrowers will be informed about creating an account with MOHELA once the loan has been successfully transferred to MOHELA. Typically, this entails creating an online account on the MOHELA platform so borrowers can access information about their loans, specify their preferred payment methods, and manage their loan accounts moving forward.

It's important to note that the loan transfer process can take some time, and borrowers may not see immediate changes in their loan servicer. During this transition period, it's crucial to stay updated with communications from the previous loan servicer and MOHELA to ensure a seamless transfer and avoid any disruptions in loan management.

If borrowers have any questions or concerns during the loan transfer process, it's recommended to reach out to their current loan servicer or contact MOHELA's customer service for clarification and guidance. MOHELA also offers guidelines that may be helpful.

MOHELA's Customer Service: Assistance and Support for Borrowers

As a loan servicer, MOHELA's commitment to offering outstanding customer service to borrowers is one of its defining characteristics. The MOHELA customer service staff is dedicated to supporting borrowers at every stage because they recognize that managing student loans can be challenging and confusing. Here's how MOHELA's customer service offers assistance and support to borrowers:

1. Knowledgeable and Responsive Representatives

The customer support staff at MOHELA comprises competent and skilled specialists in federal student loans. They are prepared to respond to borrowers' inquiries, handle their worries, and offer precise details on loan servicing, repayment schedules, loan forgiveness programs, and more. The agents are attentive and make an effort to aid borrowers immediately, ensuring they get the support they require right away.

2. Multiple Communication Channels

MOHELA provides various communication channels for borrowers to reach out for assistance. Whether through phone, email, or online chat, borrowers can choose the method that suits their preferences and convenience. The multiple communication options ensure borrowers can easily connect with MOHELA's customer service team and address their queries efficiently.

3.  Personalized Support

Recognizing that each borrower's financial situation is unique, MOHELA's customer service offers personalized support. Whether a borrower is facing financial hardship, needs help understanding repayment options, or requires guidance on navigating the loan forgiveness process, MOHELA's representatives can provide tailored advice and solutions based on individual circumstances.

4. Addressing Payment Concerns

If borrowers encounter difficulties with loan payments or face challenges related to their financial circumstances, MOHELA's customer service team can assist in finding potential solutions. They can provide information on deferment and forbearance options, temporary payment postponement, or other assistance programs to help borrowers manage their loans during challenging times.

5. Loan Servicing Inquiries

In addition to loan repayment concerns, MOHELA's customer service can help with general loan servicing inquiries. Borrowers can inquire about account details, loan balances, interest rates, payment history, and any other loan-related information they may need.

6. Support Throughout the Loan Journey

MOHELA's customer service remains available to borrowers throughout their loan journey. The MOHELA staff are prepared to help with any questions or assistance required at any point, whether borrowers are just beginning to repay their loans, are looking at repayment choices, or are getting close to the end of their payback period.

The dedication of MOHELA to providing dependable and timely customer service is evidence of their commitment to borrower happiness and monetary security. The customer service staff at MOHELA is committed to helping borrowers throughout the student loan repayment process and making it as easy and convenient as possible.

Loan Repayment Options: Understanding Your Choices with MOHELA

MOHELA services various loan repayment options for borrowers with federal student loans. These repayment plans are designed to accommodate different financial situations and help borrowers manage their loan obligations effectively. Here are the detailed loan repayment options available through MOHELA:

Plans based on the length of time in repayment

1. Standard Repayment Plan

The Standard Repayment Plan is the default repayment plan for most federal student loans. Under this plan, borrowers must make fixed monthly payments over 10 years. The payments are structured to ensure the loan is fully paid within this timeframe. This plan suits borrowers who can afford consistent payments and want to pay off their loans relatively quickly.

2. Graduated Repayment Plan

The Graduated Repayment Plan is designed for borrowers whose income is expected to increase. This plan starts with lower monthly payments that gradually increase every two years over 10 years. The idea behind this plan is that as the borrower's income grows, so will their ability to handle larger monthly payments. It is a good option for recent graduates who anticipate earning higher incomes.

3. Extended Repayment Plan

The Extended Repayment Plan allows borrowers to extend their repayment term beyond the standard 10-year period. Borrowers can choose either a fixed or graduated repayment schedule, with loan terms of up to 25 years. This plan is suitable for borrowers with significant student loan debt who need more time to repay their loans. While it reduces the monthly payment amount, it also means paying more interest over the life of the loan.

Income-Driven Repayment Plans (IDR)

MOHELA services several income-driven repayment plans, which calculate the borrower's monthly payments based on their income and family size. These plans are particularly helpful for borrowers with lower incomes or financial hardships. The income-driven repayment plans include:

4. Income-Based Repayment (IBR)

IBR caps monthly payments at a percentage of the borrower's discretionary income. For new borrowers, the payments are set at 10% of discretionary income, while for older borrowers, it's 15%. The repayment term can extend to 20 years (240 months) for undergraduate loans and 25 years for graduate loans.

5.  Pay As You Earn (PAYE)

PAYE is similar to IBR but with some differences in eligibility criteria. It caps monthly payments at 10% of the borrower's discretionary income, regardless of when the loans were taken out. The repayment term is limited to 20 years.

6. Revised Pay as You Earn (REPAYE)

REPAYE extends income-driven payments to all eligible borrowers, regardless of when they received their loans. Monthly payments are 10% of discretionary income for undergraduate and graduate loans. REPAYE offers a repayment term of up to 20 years for undergraduate and 25 years for graduate loans.

7.  Income-Contingent Repayment (ICR)

ICR calculates monthly payments based on the borrower's income and family size. The payments are the lesser of 20% of discretionary income or a fixed payment over 12 years. Parent PLUS loan borrowers are also eligible for ICR if they consolidate their loans. The repayment term can extend up to 25 years.

8. Income-Sensitive Repayment Plan

The Income-Sensitive Repayment Plan is specific to borrowers with Federal Family Education Loan (FFEL) Program loans. This plan bases monthly payments on the borrower's annual income and can vary from lender to lender. The repayment term can be up to 10 years.

Exploring Loan Forgiveness Programs with MOHELA

Several federal loan forgiveness programs are available to borrowers, and MOHELA can assist borrowers in understanding and navigating these programs. These loan forgiveness programs are designed to provide financial relief to borrowers who meet specific eligibility criteria. Here are some of the main loan forgiveness programs:

Public Service Loan Forgiveness (PSLF)

The Public Service Loan Forgiveness program is available to borrowers who work full-time for qualifying employers, such as government organizations, nonprofit organizations, or certain public service jobs. To be eligible, borrowers must make 120 qualifying monthly payments while working for an eligible employer. After making the required payments, the remaining balance on their Direct Loans may be forgiven. MOHELA can assist borrowers by helping them understand if their employer qualifies, ensuring they are on the right repayment plan, and tracking their progress toward meeting the requirements for loan forgiveness.

Teacher Loan Forgiveness Program

The Teacher Loan Forgiveness Program targets teachers working in low-income schools or educational service agencies. To be eligible, teachers must have been employed for five consecutive years in a qualifying school and meet other specific requirements. Under this program, eligible teachers may receive forgiveness of up to $17,500 on their Direct Subsidized and Unsubsidized Loans and their Subsidized and Unsubsidized Federal Stafford Loans. MOHELA can assist teachers in understanding the eligibility criteria, collecting necessary documentation, and guiding them through the application process.

Income-Driven Repayment (IDR) Forgiveness

Borrowers enrolled in income-driven repayment plans (IBR, PAYE, REPAYE, and ICR) may be eligible for forgiveness of their remaining loan balance after making qualifying payments for 20 or 25 years, depending on the specific plan. MOHELA can help borrowers choose the right income-driven plan, ensure they recertify their income and family size annually, and provide guidance on maintaining eligibility for forgiveness under these plans.

The application process for loan forgiveness programs varies. For PSLF, borrowers must submit an Employment Certification Form annually and a PSLF application once they have made 120 qualifying payments. For IDR plans, borrowers must apply through their loan servicer and provide their income and family size documentation.

The potential benefits of loan forgiveness programs include having the remaining balance of the borrower's loans forgiven, having lower monthly payments, and having the option to postpone payments temporarily. However, borrowers should be aware that loan forgiveness programs may have tax implications and that not all loans or borrowers may be eligible for forgiveness.

MOHELA can assist borrowers in navigating these loan forgiveness programs by providing information on eligibility requirements, application procedures, and deadlines. Borrowers can also use MOHELA's resources and tools, such as the Repayment Plan Evaluator, to help them choose the most suitable repayment plan based on their needs. MOHELA also offers personalized assistance to borrowers who need help understanding their options and making informed loan decisions.

MOHELA's Online Platform: Features and Benefits for Borrowers

MOHELA offers an online platform that provides borrowers with various features and functionalities to manage their student loans efficiently. While the specific features may evolve, here are some of the common features and functionalities typically found on MOHELA's online platform:

  1. Account Access: Borrowers can log in to their secure accounts on the platform to access their loan information and manage their accounts online. They can view their account details, including loan balances, interest rates, and payment history.
  2. Loan Details: The platform provides borrowers comprehensive details about their student loans, including the loan type, outstanding balance, interest rates, and repayment status.
  3. Payment Options: MOHELA's online platform lets borrowers make payments conveniently using various payment methods, including electronic fund transfer (EFT) or debit/credit card. They can set up automatic payments, make one-time payments, or schedule future payments.
  4. Payment History: Borrowers can view their payment history, including past payments, dates, and the breakdown of principal and interest.
  5. Repayment Plan Management: The platform allows borrowers to review and change their repayment plan if they are eligible for different options or want to switch to an income-driven repayment plan.
  6. Loan Forgiveness Information: MOHELA provides resources and information about loan forgiveness. Borrowers can find details about the application processes and eligibility requirements and check their eligibility status.
  7. Communication Centre: MOHELA's online platform includes a communication centre where borrowers can receive important notifications, updates, and alerts related to their student loans.
  8. Document Management: Borrowers can upload and submit documents securely through the platform, such as income verification documents required for income-driven repayment plans or loan forgiveness applications.
  9. Enrolment in Auto-Debit: Borrowers can set up automatic debit arrangements, allowing monthly payments to be deducted automatically from their bank accounts.
  10. Repayment Calculators: MOHELA provides a Repayment Plan Evaluator tool that allows borrowers to compare different repayment plans and choose the one that best fits their needs. This tool takes into account factors such as income, family size, and loan balance to provide personalized repayment plan options.
  11. Customer Support: The platform provides access to customer support resources, including FAQs, contact information, and online support options.
  12. Tax Information: The platform provides access to tax-related information, such as interest paid on student loans during the tax year, which is necessary for tax filing purposes.
  13. Account Security: MOHELA's online platform ensures account security through password protection and other authentication measures to safeguard sensitive borrower information.

Staying Informed: Updates and Changes in MOHELA Policies and Services

Awareness of modifications and new offerings can significantly impact borrowers' financial decisions and loan management strategies. Therefore, staying informed about updates and changes in MOHELA's policies and services is paramount for borrowers with student loans.

Loan Repayment Strategy

MOHELA's monthly updates to Consumer Reporting Agencies help borrowers choose suitable repayment plans, saving on interest and reducing loan burden. Keeping contact information updated is crucial to receive these updates and protect credit scores.

Payment Schedules and Due Dates

MOHELA policy changes can impact borrowers' payment schedules or due dates. For borrowers to make payments on time and avoid late fees or negative effects on their credit scores, they should always be updated.

Understanding Terms and Conditions

MOHELA's services have terms and conditions associated with loan management, forbearance, deferment, and other aspects of loan servicing that borrowers should know about. These terms help borrowers understand their rights and responsibilities, reducing the chances of any misunderstandings and unintended consequences.

Financial Planning

Updates in MOHELA's policies might affect borrowers' overall financial planning. Being informed allows borrowers to make informed decisions about their long-term financial goals, such as saving for emergencies, investing, or planning major life events.

Maximizing Benefits

MOHELA might introduce new benefits, assistance programs, or refinancing options. Staying informed allows borrowers to take advantage of these opportunities to reduce interest rates, lower monthly payments, or receive additional support during financial hardship.

Policy Changes and Government Regulations

Federal laws and government regulations influence MOHELA's policies. Being aware of policy changes ensures borrowers remain compliant with federal requirements and guidelines, avoiding any unintended consequences related to non-compliance. Changes in Policies and Services: MOHELA may change its policies and services that can affect borrowers.

Staying informed about MOHELA's policies and services is vital for borrowers to make sound financial decisions and take advantage of available benefits. By being knowledgeable about changes and updates, borrowers can effectively manage their student loans and work towards achieving their financial goals. Borrowers should regularly check MOHELA's official website, review any communications they receive, and contact customer support for the most accurate and up-to-date information.

Related: Is Tertiary Education a Worthwhile Investment

MOHELA's Role in Financial Education and Resources for Borrowers

MOHELA is committed to providing financial education resources to borrowers to help them make informed decisions about their student loans and overall financial well-being. They have a resources centre page that provides repayment, options, financial literacy, customized solutions, workshops and events, and web services to support borrowers' financial well-being. Some of the efforts and initiatives they undertake include the following:

  1. Online Resources: MOHELA offers a range of educational materials on their website, including articles, guides, and interactive tools, to help borrowers understand various aspects of student loans. These resources cover loan repayment options, budgeting, loan forgiveness programs, and managing debt. MOHELA offers several web services to help borrowers manage their student loan accounts. These services include online account management, repayment plan evaluation, and payment options.
  2. Repayment Options and Resources: MOHELA provides various repayment options to borrowers, including plans based on income and family size. They offer resources and information on their website to help borrowers understand and choose the most suitable repayment plan for their needs.
  3. Webinars and Workshops: MOHELA organizes webinars and workshops to educate borrowers about important financial topics. These virtual events may cover loan management strategies, debt reduction techniques, understanding credit, and financial planning. They partner with educational institutions, community organizations, and other stakeholders to extend the reach of their financial education initiatives. These partnerships can include workshops, seminars, or collaboration on educational content.
  4. Financial Literacy Counselling: MOHELA provides one-on-one financial literacy counselling to borrowers needing personalized assistance managing their student loans. These counselling sessions may help borrowers create a budget, explore repayment options, and develop a plan to achieve their financial goals. They can also help borrowers throughout their college journey, career, and budgeting process.
  5. Interactive Tools and Calculators: The online platform offers interactive tools and calculators to help borrowers estimate their loan payments under different repayment plans, determine the interest cost over time, and explore various financial scenarios.
  6. Borrower Communications: MOHELA communicates regularly with borrowers through email and other channels to provide important updates, reminders, and educational information related to their loans and financial management.


Frequently Asked Questions

Is MOHELA a student loan?

MOHELA is not a student loan; it is one of the largest student loan servicers in the United States. They work with borrowers to manage and service federal student loans on behalf of the U.S. Department of Education. MOHELA assists borrowers with various aspects of their student loans, including repayment plans, loan forgiveness programs, and customer service.

How does MOHELA work?

MOHELA works as a loan servicer for federal student loans. When students borrow federal student loans to fund their education, the loans are initially disbursed by the U.S. Department of Education. Subsequently, the Department of Education assigns the management and servicing of the loans to loan servicers like MOHELA. MOHELA's role is to handle billing, collect payments, provide customer service, and assist borrowers with various aspects of loan management.

Do you have to pay back MOHELA?

You do not have to pay back MOHELA directly since it is not a loan provider. Instead, MOHELA helps borrowers manage their federal student loans. You must pay back the loans to the U.S. Department of Education, which is the loan originator, and MOHELA assists with servicing and facilitating the repayment process.

Where is MOHELA student loans?

MOHELA is not a physical location where student loans are provided. It is a student loan servicer that operates as a third-party organization responsible for servicing federal student loans on behalf of the U.S. Department of Education. MOHELA's services are primarily accessible through its online portal, where borrowers can manage their student loans and access various resources.

How long does it take for loans to transfer to MOHELA?

The loan transfer process to MOHELA depends on various factors, including the U.S. Department of Education's assignment process and the borrower's circumstances. Loans may be transferred to MOHELA from the Department of Education at any time, and borrowers will be notified of the transfer. Once the loans are with MOHELA, borrowers can access their accounts and begin managing them through the MOHELA online portal.

Can MOHELA student loans be forgiven?

Some federal student loans serviced by MOHELA may be eligible for loan forgiveness programs. One of the most well-known forgiveness programs is the Public Service Loan Forgiveness program, which forgives remaining loan balances for borrowers who work full-time for qualifying public service organizations after making 120 qualifying monthly payments under an income-driven repayment plan. Other loan forgiveness options may also be available depending on the borrower's profession or situation.

Where is MOHELA student loans?

As mentioned earlier, MOHELA is not a physical location but a loan servicer that operates online and provides services for federal student loans across the United States. Borrowers can access their MOHELA student loans and manage their accounts through the MOHELA online platform, which is accessible through the official website.

How to pay back MOHELA student loans?

To pay back MOHELA-serviced student loans, borrowers can use various methods. The most common options include making payments through the MOHELA online portal, setting up automatic debit (auto-pay) to have payments deducted from a bank account each month, or sending payments via mail with the payment coupon provided by MOHELA.

Belinda Pondayi & Ngonidzashe Nzenze
This article was written by Belinda Pondayi & a Consultant at Industrial Psychology Consultants (Pvt) Ltd

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