MOHELA Student Loan Complaint

Federal student loan servicing Dealing with my lender or servicer trouble with how payments are handled

MOHELA Student loan department,

Federal student loan servicing Dealing with my lender or servicer Trouble with how payments are handled South Carolina

MOHELA continues to find ways to extend loans by using recalculations. Example I pay off a loan, incidentally all my loans get a little extra payment from that months auto debit. They then recalculate my payment amount based on this current paid ahead account status. I end up with a lower overall payment but they ensure they get their 120th payment. Level repayment should mean level repayment. They have the audacity to say that my loans on a ten year plan may require a large payment to satisfy the terms of my loan at the end, I pay nearly 8k extra every year. -typed on iPhone

MOHELA customer in South Carolina
Mar 31, 2017

* Source: CFPB Complaint Database

MOHELA response to complaint:
Closed with explanation

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