Did FedLoan transfer it to MOHELA?
Yes. If you are enrolled in Direct Debit, your information will be transferred to MOHELA and automatic payments will resume with MOHELA.
Why did my student loan get transferred?
Sometimes we need to transfer a borrower’s federally owned loan between members of our federal loan servicer team, which changes the servicing assignment for those loans. We also transfer loans when borrowers sign up for programs, such as Public Service Loan Forgiveness (PSLF).
Who is FedLoan switching to?
MOHELA
All federal loans in the FedLoan portfolio will be split up and transferred to other servicers including EdFinancial, MOHELA, Aidvantage (formerly Navient) and Nelnet. MOHELA will take on all borrowers enrolled in PSLF.
Is MOHELA owned by Navient?
MOHELA is among the 10 largest student loan servicers, alongside FedLoan Servicing (PHEAA), Granite State (GSMR), HESC/Edfinancial, Navient, Nelnet, and OSLA Servicing (as well as previously CornerStone and Great Lakes Educational Loan Services, Inc.)….Higher Education Loan Authority of the State of Missouri.
| Agency overview | |
|---|---|
| Employees | 625 (2013) |
| Website | www.mohela.com |
What happens when your student loan is sold?
No changes to loan terms An important note here: having your loan sold doesn’t affect your loan terms. You’ll still owe the same amount and your interest rate will still be the same. And, you’ll still be on the same repayment terms as you were before.
Is Nelnet the same as FedLoan?
Nelnet is a student loan servicer (like FedLoan Servicing) that was chosen by the U.S. Department of Education (ED) to service federal student loans. We keep borrowers up-to-date with information about their loans and help them manage the loan repayment process.
How do I view borrowers transferred to MOHELA?
If you have a MOHELA web account, borrowers transferred to us will appear on your reports after each transfer is complete. Don’t have web access? Click on NEW SCHOOL USER in the green button.
How do I download the MOHELA app?
Visit your App Store to download the MOHELA Android or iOS Apps, where you can view account details and make payments to specific loans.
Why choose MOHELA to manage your student loans?
Your federal direct student loan is being serviced by MOHELA on behalf of Federal Student Aid. With over 30 years in the student loan servicing industry, we have the expertise to help manage your loans – answer any account questions, help you explore your benefits and repayment options and process your payments.
How do I apply for MOHELA loan consolidation?
Online: Apply on StudentAid.gov (MOHELA is included in your options for your loan servicer) To request MOHELA as the servicer of your new consolidation loan, include a letter with your consolidation application listing MOHELA.