Welcome to MOHELA. Among the 10 largest student loan servicers, MOHELA is committed to providing best-in-class service with convenient ways for borrowers to manage their loans. MOHELA stands for Missouri Higher Education Loan Authority and is a student loan servicer headquartered in St. Louis, Missouri. The Foundation was formed by MOHELA to help make higher education more accessible and affordable for Missouri families. A student loan ombudsman is a neutral third party who works with you and MOHELA to reach a resolution. MOHELA is committed to giving our customers a first-rate experience. LIBOR Rate. These options include the following: Making a one-time payment on the website; Using the automated phone system; Sending in a check or money order to the payment mailing address When it comes to the method of repaying your student loans serviced by Mohela, you have several options. In place since 1981, MOHELA student loans are among the top 10 loans available in the United States. Please make checks payable to MOHELA and include your 10 digit Account Number. As your knowledgeable and approachable go-to resource for account information and repayment options, we provide the tools to help you successfully repay your student loan. MOHELA is here to assist! Repaying Your Mohela Student Loans. The LIBOR rate for December 2020 is 0.15%. Q: Are MOHELA student loans federal? They also have offices in Columbia, Missouri, and Washington, D.C. MOHELA is one of nine loan servicers utilized by the Department of Education to service federal student loans . Unfortunately, this does not apply to SoFi private educational loans because they are not held by a Federal Government Agency. The Missouri Scholarship & Loan Foundation was created in 2010 and is a tax-exempt, nonprofit, 501(c)(3) corporation. MOHELA is dedicated to providing world-class customer service for the students whose loans we manage. MOHELA is a student loan servicer with more than 30 years of experience working with students and families. Missouri Higher Education Loan Authority. Mohela Loan Forgiveness. MOHELA | 7,162 followers on LinkedIn. As your knowledgeable and approachable go-to resource for account information and repayment options, we provide the tools to help you successfully repay your student loan. Refinancing helps the average borrower (including those with MOHELA student loans) save over $250 per month and more than $16,000 over the life of their loan. MOHELA, or Missouri Higher Education Loan Authority, is a student loan servicer that works with the U.S. Department of Education to manage billing and payments for federal student loans. Public Service Loan Forgiveness (PSLF) If you work in certain public service jobs and have made 120 payments on your Direct Loans, you may be eligible to have your loans forgiven. President Trump recently announced that interest will be waived for all student loans held by Federal Government Agencies. In addition to commercial and private student loans which are funded by banks, credit unions and other types of lenders, the most common student loans are those owned by the federal government. To aid in repaying your student loans, we promise to listen, offer customized solutions to meet your specific needs and provide superior guidance as your dedicated resource expert. If you are a teacher in a low-income school or educational service agency, you may be eligible for Teacher Loan Forgiveness. The Missouri-based company is a legitimate student loan servicer that is contracted to handle nearly 20% of the Department of Education's accounts. With over 30 years in the student loan servicing industry, we have the expertise to help manage your loans. MOHELA is dedicated to providing world-class customer service for the students whose loans we manage. … MOHELA, or the Missouri Higher Education Loan Authority, is a nonprofit company and services both federal and private student loans. The 0% interest, no-payment-necessary period wasn’t granted for private loans serviced by MOHELA, however. You will need to meet the eligibility requirements, have worked in an eligible position and have made at least 120 payments on your loan. MOHELA also services private student loans, based on the terms/conditions as agreed to in the promissory note executed between the lender and the borrower. About Student Loans. FAQs about MOHELA Q: What does MOHELA stand for? MOHELA (pronounced mo-HEE-lah), aka the Missouri Higher Education Loan Authority, services millions of borrowers as one of the major contractors hired by the government to service federal student loans. BOX 1022 Chesterfield, MO 63006-1022. Your student loan is transferring or recently transferred to MOHELA. Once you submit a formal request, the ombudsman will research the issue and contact you for more information as needed. The Missouri Higher Education Loan Authority (MOHELA) is a student loan servicer headquartered in St. Louis. Academic Period: A measured period of enrollment (e.g., a semester, trimester, quarter, or clock hours). Public Service Loan Forgiveness (PSLF) — Several different public service jobs may make you eligible for loan forgiveness. Mail FFELP/CASH Loan payments to: MOHELA P.O. If MOHELA is your federal student loan … MOHELA is dedicated to providing world-class customer service for the students whose loans we manage. MOHELA student loan forgiveness programs. Your new Education Loan Finance Loan is now being serviced by MOHELA on behalf of SouthEast Bank. Refinancing your Mohela student loans requires just a few steps: Different types of student loans offer varying interest rates and repayment benefits. The loan servicer also has offices in South Carolina, Missouri, and Washington, D.C, and currently employs about 530 staff members. Your loan is still owned by the Department of Education. Plus, it's actually pretty simple — b elieve it or not, you can complete the entire process in less than 30 minutes. Yes, MOHELA-managed federal direct loans were eligible for the student loan suspension first installed in March 2020 via the coronavirus aid bill, known as the CARES Act. 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