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FedLoan Servicing stopped handling federal student loan accounts on December 14, 2021. After the decision, FedLoan accounts were transferred to MOHELA, Edfinancial, Aidvantage and Nelnet.
However, FedLoan stopped servicing federal student loans after December 2022 and the Department of Education then transferred the loans it was servicing to Nelnet, Edfinancial, Aidvantage or MOHELA.
If you have questions about the FedLoan Servicing changes, you can contact FedLoan Servicing using the following information: Toll-free phone number: (800) 699-2908, available Monday through ...
MOHELA was founded by Missouri lawmakers in 1981 to oversee loans guaranteed by the U.S. federal government through the Federal Family Education Loan Program.Following the program's abolition in 2010, MOHELA began to expand its presence in the student loan servicing industry.
In 2021, student loan servicers began dropping out of the federal student loan business, including FedLoan Servicing on July 8, Granite State Management and Resources on July 20, and Navient on September 28. [41] According to Sallie Mae, as of 2021, 1 in 8 families are using private student loans when federal financing doesn't cover all college ...
Jason Hancock. July 23, 2024 at 5:01 PM. A federal lawsuit filed Monday accuses a quasi-governmental organization based in Missouri of illegally overcharging and actively misleading student loan ...
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