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The Missouri Higher Education Loan Authority (MOHELA) took a drubbing at a Senate hearing Wednesday after a report from Democrats accused the student loan servicer of millions of billing errors, delays and “borrower abuse” since repayments began after the pandemic. Sen. Elizabeth Warren (D-Mass.), chair of the Senate Banking subcommittee on economic policy, scolded the…
Under the Biden administration, more than 3.7 million student loan borrowers have had their debt forgiven by various executive actions. Despite President Biden’s failure to give out universal student debt relief and fulfill a major campaign promise, he has made strides on the loans through other avenues, including fixes in income-driven repayment (IDR) options. …
According to Forbes, the Department of Education has rolled out a new pathway to student loan forgiveness for public service borrowers this fall. $2,000 Quarter? Check Your Pockets Before You Use This...
Two borrowers filed a lawsuit against the Missouri Higher Education Loan Authority (MOHELA) on Monday alleging it mismanaged student loan forgiveness they are owed under the Public Service Loan Forgiveness Program (PSLF). Jennifer Joy and Misty Thomas allege in the suit that they both have met the requirements to receive student debt relief under the…
The discharges include $2.6 billion for 34,400 borrowers using the public service loan forgiveness program and waiver and $2.2 billion for 46,000 borrowers under the one-time payment adjustment for income-driven repayment plans.