Student loan -- Dealing with your lender or servicer -- Complaint #16586170
Complaint Overview
Complaint ID: 16586170
Company: Mohela
Product: Student loan
Sub-Product: Private student loan
Issue: Dealing with your lender or servicer
Sub-Issue: Don't agree with the fees charged
State: New Jersey
ZIP Code: 086XX
Date Received: 2025-10-14T12:00:00-05:00
Date Sent to Company: 2025-10-14T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Over the course of XXXX years, my private student loan has been transferred between several servicers, each with variable interest rates. Most recently, it was serviced by XXXX and is now with Mohela. Despite consistently making on-time payments, often above the required minimum, my principal balance never seemed to decrease. I later learned that XXXX was found to have misled borrowers and was ordered to pay a settlement to affected individuals. I believe I was XXXX of those borrowers who received misleading information, which resulted in my loan accruing excessive interest and becoming increasingly difficult to pay down. My original loan amount was {$10000.00}. To date, I have paid {$8000.00}, yet my current balance has increased to {$12000.00}.
Frequently Asked Questions
What is Complaint #16586170 about?
Complaint #16586170 was filed against Mohela regarding Student loan specifically about Dealing with your lender or servicer. It was received by the CFPB on 2025-10-14T12:00:00-05:00.
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.