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Related Questions
How do I create a MOHELA account?
To create a MOHELA account, simply visit their website at MOHELA.com and click on the "Register" button. You will need to provide your personal information, including your Social Security number, as well as details about your loan(s).
What types of loans does MOHELA service?
MOHELA services a variety of federal loans, including Direct Loans, FFELP loans, and Federal Perkins Loans. They also service some private student loans. It's important to note that MOHELA does not originate loans, but rather manages the repayment process.
What is MOHELA?
MOHELA, which stands for the Missouri Higher Education Loan Authority, is a nonprofit organization that services student loans. It was founded in 1981 with the mission of helping students and families successfully repay their education loans.
Can I update my contact information through the MOHELA website?
Yes, you can easily update your contact information, including your address, phone number, and email address, through your online MOHELA account. Keeping your contact information up to date is important to ensure you receive important notifications and updates about your loan(s).
What should I do if I'm having trouble making payments on my MOHELA loan?
If you are experiencing financial hardship and having difficulty making payments on your MOHELA loan, it's important to contact MOHELA immediately. They can work with you to explore options such as income-driven repayment plans, deferment, forbearance, or loan forgiveness.
Can I consolidate my loans through MOHELA?
Yes, MOHELA offers loan consolidation services for federal student loans. Consolidation combines multiple loans into one new loan with a single monthly payment, which can make repayment more manageable. However, it's important to consider the potential drawbacks of consolidation before proceeding.
Can I refinance my loans through MOHELA?
MOHELA does not offer loan refinancing services. However, you may be able to refinance your loans through a different lender, such as a private student loan servicer or a financial institution. Refinancing can help lower your interest rate and monthly payments, but it's important to carefully consider the terms and conditions.
How do I apply for loan forgiveness through MOHELA?
If you believe you may be eligible for loan forgiveness, such as through the Public Service Loan Forgiveness (PSLF) program, you can submit an application through MOHELA. They will review your eligibility and process your request accordingly. It's important to carefully follow the instructions and provide all necessary documentation.
How can I make a payment on my MOHELA loan?
MOHELA offers several convenient payment options, including online payments, automatic payments, phone payments, and mail-in payments. You can also set up a payment plan based on your financial situation. It's important to make timely payments to avoid delinquency or default.
Is MOHELA a trustworthy and reliable loan servicer?
MOHELA has a solid reputation as a trustworthy and reliable loan servicer. They adhere to strict regulations and guidelines set forth by the Department of Education and other regulatory bodies. Additionally, they provide excellent customer service and resources to help borrowers successfully manage their loans.