MOHELA (Missouri Higher Education Loan Authority) is a student loan servicer that services federal and private student loans. MOHELA is a non-profit organization that was created by the state of Missouri to help students and their families with the cost of higher education. They service student loans that are backed by the federal government and also provides servicing to private student loan lenders.
MOHELA offers a variety of loan servicing options for both borrowers and lenders. For borrowers, they provide assistance with loan repayment, loan consolidation, loan forgiveness and income-driven repayment plans. They also offer loan deferment and forbearance options for borrowers who are experiencing financial hardship or who are returning to school.
MOHELA’s loan consolidation services can help borrowers simplify their loan payments by consolidating multiple student loans into one single loan with one monthly payment. They also provide loan forgiveness options for borrowers who meet certain qualifications such as teaching in low-income schools or serving in the military.
For lenders, MOHELA offers a range of services including loan servicing, loan origination, loan securitization and loan rehabilitation. They also provide detailed loan reporting and analytics, as well as fraud detection and prevention services. MOHELA’s loan rehabilitation program helps borrowers who have defaulted on their loans to get back on track with their loan payments.
MOHELA also offers an online account management service that allows borrowers to view their loan information, make payments, and manage their loan account online. Borrowers can also contact MOHELA’s customer service team for assistance with any loan-related questions or issues.
In summary, MOHELA is a non-profit student loan servicer that services federal and private student loans. They provide a wide range of services for borrowers, including loan repayment, loan consolidation, loan forgiveness, and loan rehabilitation. They also offer loan servicing, loan origination, and loan securitization services for lenders. MOHELA’s online account management service and customer service team provide borrowers with easy access to their loan information and assistance with any loan-related questions or issues.