How can I check my MOHELA loan status?
Monitor the status of all of your loans (ones serviced by MOHELA and other Federal Student Loan providers) by logging into your Federal Student Aid account.
How do I know if my MOHELA loan will be forgiven?
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. To process forgiveness, a final review of your account will be conducted, which will take at least 90 business days.
How long does MOHELA take to approve?
MOHELA processes payments and documents sent over from your prior federal student loan servicer. Everything is generally processed within 30 business days.
How will I know if my PSLF is approved?
You can check the status of your form(s) when you log in to StudentAid.gov.
How do I check the status of my student loan forgiveness?
To check your Student Loan Forgiveness status, log in to your official StudentAid.gov account. Navigate to the loan information section, find your desired forgiveness program, and check for updates on eligibility and application statusborrowers for forgiveness.
Will MOHELA loans automatically be forgiven?
If you work in certain public service jobs and have made 120 payments on your Direct Loans, you may be eligible to have your loans forgiven. If some or all of your payments were not made on a qualifying repayment plan for PSLF, you may be able to receive loan forgiveness under a temporary opportunity.
Will student loans held by MOHELA be forgiven?
To clarify, MOHELA doesn't have any exclusive student loan forgiveness programs. But MOHELA borrowers may be eligible for federal loan forgiveness programs through the PSLF program or income-driven repayment plans. Here's what you need to know about your MOHELA loan forgiveness options.
How long does MOHELA take to process PSLF 2023?
Loans serviced by MOHELA? If you faxed or mailed your PSLF form to MOHELA it may take up to 14 days for your mohela.com account to note that the form was received. Please allow at least 90 business days for your form to be processed.
How long does it take for PSLF loan forgiveness to be approved?
The PSLF application process can take a few months. It may take longer if you haven't been submitting regular PSLF Forms, or shorter. During the wait, you have the option of continuing to make payments or putting your loans into forbearance.
Why is MOHELA taking so long to process PSLF applications?
MOHELA acknowledges PSLF form receipt within 14 days and processes forms in at least 90 business days. Various factors, such as loan transfers and application volume, may extend these times.
How do I know if I received loan forgiveness?
If you have applied for forgiveness under a program like the PSLF or Teacher Loan Forgiveness program, your student loan servicer will notify you regarding your loan being forgiven totally, or partially with a remaining balance, depending on the program.
Who do I call to check my PSLF status?
Visit the PSLF page for answers to common questions about the program. To learn more about the application process, read our PSLF Form page. When you're ready to apply, we suggest you use the PSLF Help Tool to complete your form. If you still have questions, contact MOHELA at 1-855-265-4038.
What happens after you make 120 PSLF payments?
Once your cumulative total of qualifying payments reaches 120, the PSLF servicer will confirm your eligibility and forgive your remaining balance.
How long does it take for MOHELA to process PSLF?
Form Status & Processing Times
To check your PSLF form processing status, please input the required information below. * Please keep in mind that it may take at least 60 business days for MOHELA to process these forms.
Has student loan forgiveness been approved yet?
“Under President Biden's leadership, our Administration has now approved loan forgiveness for nearly 3.9 million borrowers, and our historic fight to cancel student debt isn't over yet.”
What is a PSLF qualifying payment?
An eligible payment becomes a qualifying payment when you certify your employment and all or part of your employment period is approved. Eligible payment periods that correspond to approved employment periods are also tracked as qualifying. These payments count toward the 120 required for loan forgiveness.
Is MOHELA considered a federal student loan?
Also called the Higher Education Loan Authority of the State of Missouri, it's a nonprofit servicer that manages both federal and private student loans. As of November 2022, MOHELA is the sole servicer for borrowers enrolling in Public Service Loan Forgiveness (PSLF) and the TEACH Grant Program.
What is the MOHELA problem?
The U.S. Department of Education said at the end of October that student loan servicer Mohela, or the Missouri Higher Education Loan Authority, failed to send timely billing statements to 2.5 million borrowers.
Is MOHELA federal student debt?
Your federal student loan is being serviced by MOHELA on behalf of Federal Student Aid (FSA). With over 40 years in the student loan servicing industry, we have the expertise to help manage your loans – answer any account questions, help you explore your benefits and repayment options and process your payments.
Which student loans are automatically forgiven?
If you have loans that have been in repayment for more than 20 or 25 years, those loans may immediately qualify for forgiveness. Borrowers who have reached 20 or 25 years (240 or 300 months) worth of eligible payments for IDR forgiveness will see their loans forgiven as they reach these milestones.
Why did MOHELA put my student loans in administrative forbearance?
This typically happens if your federal student loan servicer makes an error, like sending incorrect or late billing statements. There are a few other situations, like waiting for a borrower defense or Public Service Loan Forgiveness (PSLF) application to process, that can lead to administrative forbearance.
Will September 2023 count for PSLF?
Typically, months in forbearance and deferment do not count towards PSLF. However, months during the COVID-19 payment pause (March 2020-September 2023), months that qualify under the IDR Adjustment, and months where loans are being placed on administrative forbearance after the repayment restart will count toward PSLF.
How hard is it to get approved for PSLF?
The data shows that 98% of applications for Public Service Loan Forgiveness (PSLF) from November 9, 2020 to April 30, 2021 were rejected. Only two out of every hundred applicants were approved.
What is the success rate of PSLF loan forgiveness?
The initial success rate was about 0.5%, and now it's above 1% only a couple of years later. You might think that's still ridiculous, but it shows the exponential path to a 50% PSLF success rate that will happen over time and lead to more student loan forgiveness on borrowers' loans.
What happens after I submit my PSLF application?
The form will be electronically sent to PSLF servicer, MOHELA, which will determine approvals and next steps. After MOHELA receives your employment information, they'll conduct an initial review to make sure your employment qualifies.
References
- https://ncblpc.org/student-loan-forgiveness-status/
- https://studentaid.gov/help-center/answers/article/who-to-contact-about-pslf
- https://www.mohela.com/DL/faqs/FAQPage.aspx/pslf
- https://studentaid.gov/help-center/answers/article/what-happens-when-i-submit-pslf-tepslf-form
- https://mohela.com/
- https://www.mohela.com/fedLoan-transfer
- https://www.mohela.com/DL/resourceCenter/LoanForgivenessDischarge.aspx
- https://dfpi.ca.gov/2023/12/13/student-loan-questions-answered/
- https://studentaid.gov/help-center/answers/article/what-happens-after-use-pslf-help-tool-to-create-form-with-electronic-signatures-from-my-employer
- https://www.mohela.com/pslf
- https://www.tateesq.com/learn/pslf-how-long-process
- https://www.studentloanplanner.com/pslf-snowball-effect/
- https://www.investopedia.com/what-happens-when-your-student-loans-are-forgiven-7152753
- https://www.mohela.com/DL/ResourceCenter/PSLFServicerTransfer.aspx
- https://www.nerdwallet.com/article/loans/student-loans/mohela-student-loans
- https://www.mohela.com/DL/FAQs/DLNewUser.aspx
- https://www.forbes.com/sites/adamminsky/2021/06/14/new-data-shows-most-who-apply-to-this-student-loan-forgiveness-program-are-denied/
- https://www.studentloanplanner.com/how-to-get-mohela-student-loan-forgiveness/
- https://studentaid.gov/manage-loans/forgiveness-cancellation/public-service
- https://www.ed.gov/news/press-releases/biden-harris-administration-approves-12-billion-loan-forgiveness-over-150000-save-plan-borrowers
- https://www.consumerfinance.gov/paying-for-college/student-loan-forgiveness/
- https://www.law.berkeley.edu/admissions/jd/financial-aid/loan-repayment-assistance-program/public-service-loan-forgiveness-pslf/
- https://www.nerdwallet.com/article/loans/student-loans/student-loan-forbearance-extended-for-millions
- https://www.cnbc.com/2024/01/09/what-student-loan-borrowers-affected-by-servicing-errors-need-to-know-.html
