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Thanksgiving Holiday
In observance of Thanksgiving, we will be closed for business on Thursday, November 23, 2023. Our offices will reopen at 7 A.M CST on Friday, November 24, 2023.
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Welcome to our new MOHELA portal
If your account recently transitioned to our new servicing portal, we're excited you're here. It's time to create an online account. You can also read our info page about the transition.
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High Call Volume
Due to the unprecedented event of millions of student loan borrowers returning to repayment at the same time, you may experience longer than normal wait times to speak to a Customer Service Representative. Self-service is available 24/7 by logging in to mohela.com or StudentAid.gov. There you can explore your repayment plan options which may help to lower your monthly payment amount. We appreciate your patience.
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Saving on a Valuable Education (SAVE) Repayment Plan (formerly the REPAYE Program)
The SAVE plan provides the lowest monthly payment of any income-driven repayment plan available to nearly all student borrowers. If you were previously participating in the Revised Pay as You Earn (REPAYE) plan, you will automatically be enrolled in the SAVE Plan and your payment recalculated before payments resume, no action is required. If you want to enroll in the SAVE plan and calculate what your estimated monthly payment may be, use Loan Simulator.
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Income-Driven Repayment Account Adjustment
Update: If you received an email from Federal Student Aid regarding income-driven repayment forgiveness, please know that we are working to process your forgiveness as soon as possible. Once the forgiveness has been applied, you will be notified. Our customer service representatives do not have any further information about this forgiveness to provide at this time.
In April 2022, the U.S. Department of Education announced several updates that will bring borrowers closer to forgiveness under income-driven repayment (IDR) plans.
Based on the newly eligible months from the one-time account adjustment, borrowers who have reached 240 or 300 months' (as applicable) worth of payments for IDR forgiveness or 120 months of PSLF will begin to see their loans forgiven in spring 2023. The Department will continue to discharge loans as borrowers reach the months needed for forgiveness. All other borrowers will see their accounts update in 2024.
For more information, please visit StudentAid.gov/IDRAdjustment.
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Public Service Loan Forgiveness (PSLF)
PSLF Forgiveness: When you reach 120 or more qualifying payments for PSLF, your account is eligible to be placed into a forbearance and no payment will be due. If you prefer to continue making payments, any overpayments will be refunded if you have no additional outstanding loans. A final review of your account will be done in order to process forgiveness which will take at least 90 business days. You can log in to your account and verify that you are in a forbearance status and also check the PSLF form tracker to view adjustments made to your account. You will be notified of the results of your forgiveness request once the final review of your account is complete.
PSLF Eligible and Qualifying Periods (Payment Counters): If you recently consolidated your loans, your payment counters may temporarily reset to 0 as of your consolidation date. Don't worry. Your payment counters will be further adjusted as updates are made to your account, including the payment count adjustment toward income-driven repayment. Once the processing of your PSLF form is complete, you will be notified of changes to your payment counts from additional periods of certified employment. Be sure to check out the PSLF form tracker.
PSLF Employment: Since your qualifying payment count does not automatically increase, using the PSLF Help Tool annually to update your progress toward PSLF and TEPSLF is recommended. Log in to mohela.com to review your certified employment history and note if any periods should be added. You can use the PSLF Help Tool which allows you and your employer to digitally sign and submit your PSLF form. Please note that if you submitted a PSLF form, or used the PSLF Help Tool to generate a PSLF form on or before October 31, 2022 to take advantage of the Limited PSLF Waiver, these forms will continue to be processed under the Limited PSLF Waiver rules.
Loan Transfers for PSLF: If you have been notified by your servicer that your loans will be transferring to MOHELA for the PSLF Program, you can learn more about this transfer here. We appreciate your patience during this transition period.