MOHELA Student Loan Complaint

MOHELA Student loan department,

Non-federal student loan Dealing with my lender or servicer Alaska

Why wo n't you investigate Federal Student Loans? - has a policy in place of applying extra payments toward future payments, thereby collecting more interest and keeping borrowers in debt longer and longer. They have layers of obstacles making it difficult, if not impossible, to pay only the minimum amount each month and pay down principle with extra payments when you can. They threaten to increase your minimum if you ask to make principle reduction. Imagine if you wanted to pay an extra $300.00 on your mortgage, and the bank said they ca n't do that, and if you ask us again, we 'll raise your interest rate ''. That is pretty much what - is saying to thousands of student borrowers.