• Yosi Rahimi

Who is Mohela and how do they have my loan details?

The Missouri Higher Education Loan Authority, also known as, MOHELA, is one of the largest student loans servicers in the US.

P. from New York, $19K in student loans debt

Federal student loans are a strange animals in the sense that you can't choose the company you're doing business with. P. took her loans when she started her political science degree, but thought that she'll deal with a federal agency later on. However, when you're taking a student loan, you'll be assigned a company called "loan servicer" that will manage all the interaction with you, in regards of your student loans. MOHELA is one of these companies, and as a servicer, it receives all the information about the borrower that's relevant for the loan repayment. Once a loan servicer is assigned you can't replace it, no matter how dissatisfied you're with their service.

Luckily, Money Compass helps you track your loan status and repayments, and provides you with in depth insights on how to optimize your student loans repayments.

Want to become debt free faster? Money Compass allows you to easily find the best repayment plan to fit your goals. Click here to give it a try

Have a specific question regarding your loans? Send it to FreeAdvice@moneycompass.io

#studentloans #studentdebt #repaymentplans


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