PSLF Waiver Offers Way to Get Closer to Loan Forgiveness
On Oct. 6, 2021, the U.S. Department of Education (ED) announced a change to Public Service Loan Forgiveness (PSLF) program rules for a limited time as a result of the COVID-19 national emergency. Now, for a limited period of time, borrowers may receive credit for past periods of repayment that would otherwise not qualify for PSLF. Check mohela.com/pslfwaiver.
Income-Driven Repayment and Public Service Loan Forgiveness Program Account Adjustment
Just Announced: U.S. Department of Education (ED) revealed several changes and updates that will bring borrowers closer to forgiveness under income-driven repayment (IDR) plans. ED will begin work on implementing these changes immediately, but borrowers will not see the effect in their accounts until fall of 2022. Learn more at StudentAid.gov.
Check mohela.com/covid19 for information regarding student loan payments restarting, updates about student loan processing, and COVID-19.
New Message For Direct Loan Borrowers Serviced by MOHELA:
Just Announced: Federal student loan flexibilities for the COVID-19 emergency have been extended through August 31, 2022. We are updating our websites and systems as quickly as possible to explain the types of relief now available for federal student loans held by the Department of Education. We appreciate your patience. Visit StudentAid.gov/coronavirus for updates.
During this time no interest is accruing. In addition, no payment will be due until after the payment pause ends, unless you opted out of the forbearance (payment pause).
Welcome FedLoan Servicing Borrowers!
Have you recently received notification from FedLoan Servicing that your loans will be transferring to MOHELA? Get more information about the transfer.