MOHELA has been named an “exceptional artist” by the US Department of Education. MOHELA held a compliance rating of 97 percent in the conversion of state student loans into payments, the recovery of outstanding loans and the timely submission of claims for guarantees. MOHELA executives have also been elected to the industry and local government and are represented in a variety of industry-related committees.
MOHELA became the first service administrator in the non-profit sector (PFN) to sign a contract and began granting federally-funded student loans under the US Department of Education’s Federal Loan Program. October 2011.
Controversy over the transfer of student loans
In recent years, MOHELA has become a federal government debt manager for student loans across the country. More than 500,000 student loans have been transferred to MOHELA for administration by the US Department of Education and other administrators.
There have been many complaints from borrowers about handling loans during and after switching to MOHELA. Many borrowers have late payments fees for late processing of payments to Ed before remittance, suspension of automatic payment programs, mohela 2 019 increased payment amounts, increase in expected payment dates, changes to the borrower’s chosen payment plan, unwanted rescues and shifts, lack of processing of forms and applied or capitalized interest.