MOHELA, or the Missouri Higher Education Loan Authority, is a nonprofit company and services both federal and private student loans. If MOHELA is your federal student loan servicer, here’s what it can help you do.
One may also ask, are Ffelp loans private?
The FFELP was introduced as part of the Higher Education Act of 1965. Through the FFELP, private lenders issued federal loans that were guaranteed and subsidized by the federal government. There are two main kinds of FFELP loans: commercially-owned and Education Department-owned.
Manage your account on-the-go with the MOHELA App. You are just a click away from easy access.
People also ask, how do I apply for MOHELA?
Ways to Apply for Consolidation
- Online: Apply on StudentAid.gov (MOHELA is included in your options for your loan servicer)
- Mail: Print, complete and mail a paper application. To request MOHELA as the servicer of your new consolidation loan, include a letter with your consolidation application listing MOHELA.
Is MOHELA a FedLoan?
The U.S. Department of Education (ED) has transferred the customer service of your federal student loan account from FedLoan Servicing to MOHELA, another member of ED’s federal loan servicer team.
Is MOHELA a SoFi?
MOHELA is SoFi’s third-party loan servicer for student loans. While your loan will be serviced by MOHELA after it has been funded, you will still be a SoFi member and be able to take advantage of our unique member benefits. …
Is MOHELA public or private?
MOHELA has worked with student loans for several decades as a private lender. It began servicing federal student loans in 2011 and was recently awarded a new contract as one of five primary federal loan servicers going forward.
Is SoFi a government loan?
Notice: SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers such as Income-Driven Repayment plans, including Income-Contingent Repayment or PAYE.
Is SoFi legit?
SoFi is a legitimate money management business, even though it isn’t a bank. It offers customers multiple products and services to help them manage their money, including refinancing loans, consolidating debt, purchasing insurance and investment services.
Is SoFi MOHELA a private loan?
SoFi Private Education Loans Serviced by MOHELA
Your new private education loan is now being serviced by MOHELA on behalf of Social Finance Lending, Corp. With over 30 years in the student loan servicing industry, we have the expertise to help manage your loans.
What is MOHELA stand for?
Where is MOHELA based?
Who is SoFi company?
and commonly known as SoFi) is an American online personal finance company. Based in San Francisco, SoFi provides financial products that includes student loan refinancing, mortgages, personal loans, credit card, investing, and banking through both mobile app and desktop interfaces.
Who owns MOHELA loans?
MOHELA is among the 10 largest student loan servicers, alongside FedLoan Servicing (PHEAA), Granite State (GSMR), HESC/Edfinancial, Navient, Nelnet, and OSLA Servicing (as well as previously CornerStone and Great Lakes Educational Loan Services, Inc.).
| Agency overview | |
|---|---|
| Employees | 625 (2013) |
| Website | www.mohela.com |