MOHELA was created in 1981 through legislation signed into law by Governor Christopher S. “Kit” Bond and has been participating in the Federal Family Education Loan (FFEL) Program for almost three decades. MOHELA operates in the not-for-profit sector and is a traditional secondary market lender and servicer originally created, in part, to ensure that students have access to low-cost education loans. Our mission to promote access to higher education, dedication to our customers, long history in the student loan industry and designated “Exceptional Performer” rating by the Department of Education uniquely position MOHELA among student loan servicers. MOHELA is based in Chesterfield, Missouri and is ranked in the top ten based on volume of loans and dollars serviced. MOHELA has grown to over 200 full-time staff members working with students, schools and lenders throughout the industry servicing upwards of $4 billion in student loans.

Since our inception in 1981, MOHELA has demonstrated our dedication to helping students and families better afford college by providing in excess of $69 million in loan forgiveness, grant programs and interest rate reductions in addition to contributing $240 million for college and university construction projects throughout Missouri. To further support access to higher education, MOHELA has recently formed the Missouri Scholarship Foundation, a nonprofit organization currently seeking tax-exempt status under section 501(c)(3) of the Internal Revenue Code, devoted to alleviating some of the costs associated with higher education for students and families. To prepare for legislative changes ending the origination of the FFEL Program effective July 1, 2010, MOHELA assembled a select team of management and staff from critical areas in 2009 priming the organization to be eligible to service federal assets. Team members from Finance, Compliance, Servicing, Systems Management, Development and Conversions continue to dedicate their collective skills and experience to the research, development, and implementation of the necessary infrastructure and procedural changes that will position MOHELA to proceed in serving students and schools of Higher Education.

We continue to focus on the protection of federal assets and offering unparalleled service to students and schools from coast to coast. Our strength resides in our ability to provide dependable and reliable loan servicing for students, parents and schools. Establishing and sustaining relationships with our borrowers and schools for the entire life cycle of a loan is critical to reducing student loan delinquency and default. We pride ourselves on being keenly aware of the environment our borrowers live and work in, which allows us to customize and target our efforts to those who need it most.

For more information about MOHELA, please view our FY2010 Annual Report.