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Student loan payment restart marred by errors, from late notices to incorrect bills

The first month of repayments since the end of a three-year pandemic pause on federal student loans has been filled with mishaps, according to the .

Public service loan forgivenessConsumer finance protection bureauDepartment of educationEducation departmentOffice of federal student aidUs department of educationConsumer financial protection bureauConsumer finance protection centerFederal student aidRich cordray

Education Dept penalizes student loan servicer Mohela for errors

The Education Department announced it would penalize student loan servicer Mohela for its failure to send timely billing statements to 2.5 million borrowers.

United statesMark kantrowitzBraxton brewingtonElizabeth warrenUs department of educationMissouri higher education loan authorityRich cordrayPersonal financeDebt collectiveHigher educationPersonal debtStudent loansBreaking news politicsBreaking news investingBusiness news

2 5 million student loan borrowers didn t receive their bill on time Do you still owe?

Recent servicer errors forced 800,000 borrowers into delinquency, officials said.

Us department of educationPublic service loan forgivenessHigher education loan authorityIncome driven repaymentBorrower defenseStudent aidRich cordrayLoan servicerUs department of educationBilling statementsPrepayment plans

MOHELA made borrowers delinquent Now the student loan servicer is being penalized

MOHELA didn't send billing statements on time to 2.5 million borrowers as repayment resumed in October, leading to 800,000 being delinquent.

United statesMiguel cardonaEducation departmentMissouri higher education loan authorityPublic service loan forgiveness or incomePublic service loan forgivenessIncome driven repaymentRich cordrayFederal student aidPresident bidenEducation secretary miguel cardonaFederal student loansStudent loanEducation departmentLoan servicersBilling statements

Education Department penalizes Missouri lender for error that made 800,000 student loan borrowers delinquent

The Education Department announced it would penalize student loan servicer Mohela for its failure to send timely billing statements to 2.5 million borrowers.

New yorkUnited statesMark kantrowitzBraxton brewingtonElizabeth warrenUs department of educationEducation departmentMissouri higher education loan authorityRich cordrayPersonal financeDebt collective

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