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Important Announcements

• High Call Volume

  Due to the unprecedented event of millions of student loan borrowers returning to repayment at the same time, you may experience longer than normal wait times to speak to a Customer Service Representative. Self-service is available 24/7 by logging in to mohela.com or StudentAid.gov. There you can explore your repayment plan options which may help to lower your monthly payment amount. We appreciate your patience.

• Saving on a Valuable Education (SAVE) Repayment Plan (formerly the REPAYE Plan)

  The SAVE plan provides the lowest monthly payment of any income-driven repayment plan available to nearly all student borrowers. If you were previously participating in the Revised Pay as You Earn (REPAYE) plan, you will automatically be enrolled in the SAVE Plan and your payment recalculated before payments resume, no action is required. If you want to enroll in the SAVE plan and calculate what your estimated monthly payment may be, use Loan Simulator.

  
  

• Return to Repayment

  Student loan interest started accruing again on Sept. 1, 2023. Payments will be due starting in October. We will send a billing statement at least three weeks before payment is due. Log in to your account to ensure your contact information is current, enroll in paperless delivery, and sign up for Auto Debit, which could lower your interest rate by 0.25%.

  If you need a lower monthly payment amount, consider signing up for an income-driven repayment plan, like the new SAVE Plan, now. We encourage you to visit Federal Student Aid's Loan Simulator. There you can review repayment plans, see estimated payments and costs, and apply for the repayment plan that works best for you.

• Income-Driven Repayment Account Adjustment

  Update: If you received an email from Federal Student Aid regarding income-driven repayment forgiveness, please know that we are working to process your forgiveness as soon as possible. Once the forgiveness has been applied, you will be notified. Our customer service representatives do not have any further information about this forgiveness to provide at this time.

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  In April 2022, the U.S. Department of Education announced several updates that will bring borrowers closer to forgiveness under income-driven repayment (IDR) plans.

  Based on the newly eligible months from the one-time account adjustment, borrowers who have reached 240 or 300 months' (as applicable) worth of payments for IDR forgiveness or 120 months of PSLF will begin to see their loans forgiven in spring 2023. The Department will continue to discharge loans as borrowers reach the months needed for forgiveness. All other borrowers will see their accounts update in 2024.

  For more information, please visit StudentAid.gov/IDRAdjustment.

• Public Service Loan Forgiveness

  As of July 2022, MOHELA became the student loan servicer for Public Service Loan Forgiveness (PSLF). Borrowers pursuing PSLF will be transferred to MOHELA upon the approval of their submitted PSLF form. Check the status of your PSLF form.

  Have you recently received notification that your loans will be transferring to MOHELA? Get more information about the transfer. We appreciate your patience during this transition period.

  If you submitted a PSLF form or used the PSLF Help Tool on or before Oct. 31, 2022, to generate a PSLF form to take advantage of the PSLF Limited Waiver, MOHELA will continue to process these forms under the PSLF Limited Waiver rules. Get information about the PSLF Limited Waiver. 

  An Update on Regulation Changes to the PSLF Program

  Federal Student Aid is implementing regulatory changes to the Public Service Loan Forgiveness (PSLF) Program effective July 1, 2023. MOHELA's communication channels regarding these regulatory changes will be updated in the coming weeks. Please visit StudentAid.gov for current updates to the PSLF Program.