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About Missouri Higher Education Loan Authority (MOHELA)
633 Spirit Drive •
Chesterfield, MO 63005 •
Toll Free: 888.866.4352 •
Local: 636.532.0600
Overview
Every student has a vision, a personalized set of goals. With the right lens, the right angle, the right perspective, these goals can be within reach. The Higher Education Loan Authority of the State of Missouri, MOHELA is one of the largest student loan secondary markets in the country and a leading national holder and servicer of student loans.
As participants in the Federal Family Education Loan Program (FFELP), MOHELA services student loans for and purchases from our Lender Partners. As loan purchase volume increases, MOHELA enhances borrower benefit programs and decrease loan interest rates. Families and students using MOHELA loan programs enjoy some of the lowest student loan interest rates available, some of which are below the current federal rate. MOHELA is proud to extend special benefit programs with lower interest rates and in some cases, loan forgiveness to those in certain public service professions.
MOHELA's Access and Success Initiative
For years, MOHELA has provided industry leading borrower benefits. To increase higher education attendance rates among low-income and first generation students, MOHELA realized that more help was needed. Our Mission became clear: eliminating barriers for students so they can access higher education.
In addition to providing needed funding to important college access programs, MOHELA conducted a research effort during 2005 and identified "Three R's," programs that offer a pathway to achieving measurable results in college access and success:
- Responsibility - Forming College and Career Clubs for students in grades 8 - 12 to prepare for life after high school
- Role Models - Recruiting College Coaches to foster, support and serve as role models for the College and Career Clubs
- Regional Partnerships - Establishing Regional Education Achievement Partnership (REAP) organizations to develop and coordinate a regional approach to eliminating the college opportunity gap
MOHELA's implementation plan involves working through new and existing partner organizations to develop and implement these three components.
MOHELA Commitments to College Access and Success Efforts
- In 2005 alone, MOHELA forgave students loan balances totaling over $8,000,000 for almost 8,000 freshman Pell recipients who also needed student loans from MOHELA lender partners to achieve their educational dreams.
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Other research-based education achievement efforts in which MOHELA has either invested or made plans to support include:
- Infinite Scholars
- College Summit
- Education Resource Centers
- Need-based scholarships
- College Goal Sunday
Funding
MOHELA is a self supporting enterprise. MOHELA’s earnings are used to pay its operating costs and support its mission. With the aid of our Lender and School Partners, and the reinvestment of capital into tangible benefits, MOHELA successfully supports the community of students and families who rely on us for financial assistance in higher education.
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