If you’re one of millions of student loan borrowers serviced by MOHELA and you have questions about how these hearings may impact you, give your student loan professional a call. They can help you navigate potential servicer changes, get your paperwork in order, and guide you through all the complexities of repayment and forgiveness.
Your own most exciting two minutes in student loans is coming! Remember that it takes time to make a champion, but the finish line is ever-nearer. If you have patience, savvy, and a great time, the rewards are all the sweeter.
Maybe the reason public opinion is so divided on student loan forgiveness is that there are many Americans who don’t realize that their physician, attorney, professor, or friend is impacted by student debt. Maybe the reason that the White House is taking so much action on student loans is that borrowers are finally breaking the taboo and are being honest with their friends and family about the impact that it’s having on both their financial and personal health.
Starting May 1st, all records will no longer be available on MOHELA’s website and will move to studentaid.gov. To make sure that nothing is lost or omitted in the transition, keep copies of messages, letters, receipts, etc. for yourself.
Because of this transition, there will be a delay processing PSLF applications and borrowers between May 1–July 1, 2024. Throughout this transition, borrowers will also not be able to access any of their PSLF records on either studentaid.gov or MOHELA’s website. FSA recommends that you “save screenshots and correspondence for your personal records…by April 30, 2024.”
If you have any questions about PSLF, employment certification, or whether you may qualify, contact your student loan professional. They can help put you on the path to loan forgiveness and give you peace of mind so that you can enjoy the beauty and promise of springtime!
Since we deal with MOHELA on a regular basis, none of this is really surprising to us. We’ve been right there with clients who’ve been on hold for hours, listening to their dreadful hold music, navigating obtuse phone trees, and explaining policy to service representatives that are either uninformed or intentionally misdirecting.
If you were among those notified that you needed to recertify your income, you don’t actually need to do anything. The Department of Education has extended the recertification deadline until November 1, 2024 and the earliest that borrowers should need to submit anything will be September 2024.
If you have questions about how these proposed regulations may affect you and your path to student loan freedom, give your student loan professional a call. We’ll continue to wade through the legalese and keep you up-to-date on all updates and reforms to student loans!
If borrowers are already serviced by MOHELA, they can expect to receive notice that their accounts have been moved, at which point they will need to create a new profile at the new website: mohela.studentaid.gov.