A federal court issued an injunction preventing the U.S. Department of Education from implementing the Saving on a Valuable Education (SAVE) Plan and parts of other income-driven repayment (IDR) plans.
In observance of Labor Day our offices will be closed on Monday, September 2. Please note, payments may take up to five business days to post to your account. This delay will not change the effective date of your payment.
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If you took out a Federal Direct Loan to attend a school that misled you or engaged in other misconduct in violation of certain laws, you may be eligible for loan discharge.
If your school closes while you're enrolled or soon after you withdraw, you may be eligible for discharge of your federal student loan(s).
If the borrower, or the student on whose behalf the loan was obtained, dies, the loan may be discharged.
Learn more about income-driven repayment (IDR) forgiveness and one-time account adjustments.
If you work in certain public service jobs and make 120 payments on your Direct Loan(s), you may be eligible to have your loans forgiven.
If you are a teacher in a low-income school or educational service agency, you may be eligible for Teacher Loan Forgiveness.
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.
If you are totally and permanently disabled, learn about your options to have your student loans discharged.
Federal Student Aid (FSA) is your federal loan provider. FSA uses servicers (private companies) like MOHELA to manage billing, questions, and payments, and to help you enroll in the best repayment plan for you.
Learn more about Federal Student Aid this link will open in a new window
See your repayment options with Loan Simulator this link will open in a new window
Information about your student loans is reported to the four nationwide consumer reporting agencies. Based on the information provided, each individual consumer reporting agency uses their own unique scoring model to determine your FICO credit score.
These credit reporting practices apply to all student loans that are owned by the Department of Education.
We will begin to report a loan delinquent once it is 90 days or more past due on the last date of the month.
We report to the consumer reporting agencies (CRA's) monthly, with the status as of the last day of every month. Monthly reporting excludes loans that were previously reported in a final credit reporting status (for example, paid in full, transferred, etc.) and loans where credit reporting is bypassed or deleted. Please note the CRA's need time to update reporting once we have reported information to them.
We will report each individual loan to the consumer reporting agencies as one unique tradeline that will appear on your credit report.
We are not authorized to complete "goodwill requests" for credit updates, per the directive of Federal Student Aid.
For more information, visit mohela.studentaid.gov/credit.
Due to changes in PSLF regulations, you can now buy back certain months of your payment history to make them qualifying payments for PSLF. Specifically, you can buy back months that do not count as qualifying payments because you were in an ineligible deferment or forbearance status.
The buyback opportunity is only available if you already have 120 months of qualifying employment and buying back months in forbearance or deferment would result in forgiveness under PSLF or Temporary Expanded PSLF (TEPSLF). Please note: The PSLF program is managed by the U.S. Department of Education, not MOHELA. To learn more about next steps, and general information on the program, visit Studentaid.gov/PSLFbuyback.