2.5 million student loan borrowers didn't receive their bill on time. Do you still owe?
Recent servicer errors forced 800,000 borrowers into delinquency, officials said.
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Recent servicer errors forced 800,000 borrowers into delinquency, officials said.
The department said that in some cases MOHELA sent borrowers a bill only seven days before a payment was due.
MOHELA didn't send billing statements on time to 2.5 million borrowers as repayment resumed in October, leading to 800,000 being delinquent.
The Department of Education announced Monday that it is withholding millions of dollars in payment to the student loan servicer Missouri Higher Education Loan Authority (MOHELA) over billing statement errors it made. The department said MOHELA “failed to meet its basic obligation” of getting the statements out in a reasonable timeframe, resulting in 2.5 million…
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