Missouri Higher Education Loan Authority (MOHELA) is one of a handful of federal student loan servicers that manages the $1.59 trillion federal student loan portfolio. MOHELA’s current role remains relatively small. But it’ll soon become one of the major loan servicing players.
Additionally, are all MOHELA loans Federal?
MOHELA is one of eight companies that service federal student loans by collecting and tracking payments. MOHELA, or the Missouri Higher Education Loan Authority, is a nonprofit company and services both federal and private student loans. If MOHELA is your federal student loan servicer, here’s what it can help you do.
Herein, does MOHELA report to credit bureau?
Yes, all federal student loan servicers, including MOHELA, report their borrowers’ credit history to the major credit bureaus.
Is MOHELA a financial institution?
MOHELA, also known as the Missouri Higher Education Loan Authority, is a student loan servicer that administers both federal and private student loans. MOHELA has been a student loan servicer for more than 30 years, and its contract with the federal government was recently renewed until 2022.
MOHELA is an authentic company, but not everyone who contacts you about your student loans is. It’s wise to double-check any student loan information you receive to protect yourself from scams and fraud. You can also visit the MOHELA website to see whether a service being offered to you is genuine or might be a scam.
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.).
What is MOHELA? MOHELA, or the Missouri Higher Education Loan Authority, is one of the nine federal student loan servicers. That means they are in charge of handling repayment and communication on federal student loans on behalf of the U.S. Dept. of Education.
Unsubsidized Loans are loans for both undergraduate and graduate students that are not based on financial need. Eligibility is determined by your cost of attendance minus other financial aid (such as grants or scholarships). Interest is charged during in-school, deferment, and grace periods.
OSLA, or the Oklahoma Student Loan Authority, is a federal student loan servicer with more than 40 years of experience helping students manage and repay their student loans.