Student loan -- Dealing with your lender or servicer -- Complaint #11034023
Complaint Overview
Complaint ID: 11034023
Company: Mohela
Product: Student loan
Sub-Product: Federal student loan servicing
Issue: Dealing with your lender or servicer
Sub-Issue: Received bad information about your loan
State: Pennsylvania
ZIP Code: XXXXX
Date Received: 2024-12-04T12:00:00-05:00
Date Sent to Company: 2024-12-04T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Two months ago when the SAVE program was to go into Administrative Forbearance, I received a letter via Mohela 's website that a payment would be due soon now that the original forbearance was over. I emailed them, nobody responded, but no payment ended up being debited from my account. Now today, I received another letter stating that during forbearance, interest would accrue during the current forbearance. I have read enough about the current litigation regarding the SAVE program and understand that all loans under this program are under interest free administrative forbearance. Mohela should be ashamed using these kinds of scare tactics to force borrowers into making payments to avoid interest accruing. They are an awful servicing provider. They never answer emails, internal website emails or even worse, trying to get through on the phone. They do not deserve to be a loan servicer if they can not provide accurate information for the millions of borrowers assigned to them. I was originally with DirectLoans but my loan was sold to them several years ago. Below is what the letter said : Loan Update In an effort to keep you updated on your federal loan ( s ), we have enclosed details about your loan ( s ), including the accrued interest, interest rate, and total balance. The loan ( s ) listed in this letter are currently in forbearance. Although no payments are due at this time, interest continues to accrue on your loan ( s ) during the forbearance period. You have the option to pay the interest during forbearance. Here are some helpful tips to manage your account : You may cancel the forbearance at any time to resume immediate repayment. Create an online account and enroll in XXXX. Log in to mohela.studentaid.gov to keep tabs on your student loan balance. To obtain the outstanding principal and accrued interest balance on your loan ( s ), log in to your account online at mohela.studentaid.gov. Pay now vs. later. You are not required to make payments at this time. However, if you can afford to make even some payments, it can save you money down the road and reduce the total amount that you repay. You remain obligated to pay your loan ( XXXX ), and payments will resume at the end of the forbearance. To make a payment, use one of the following methods : Payment Methods There are three easy ways to make your payment : Online : mohela.studentaid.gov Phone : XXXX ( Toll Free ) Mail : Include your account number on the check or money order made payable to MOHELA. Send your payment to : U.S. Department of Education
Frequently Asked Questions
What is Complaint #11034023 about?
Complaint #11034023 was filed against Mohela regarding Student loan specifically about Dealing with your lender or servicer. It was received by the CFPB on 2024-12-04T12:00:00-05:00.
How did Mohela respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Student loan) and describe your issue in detail.
Can I see other complaints against Mohela?
Yes, visit the Mohela company profile at readthecomplaint.com/company/mohela to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.