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Important Notice About Your Tax Information
You may have additional 2023 interest paid:
Log in to your mohela.com account to access the amount of interest paid on your student loans in 2023 while serviced on MOHEL's legacy platform via mohela.com.
If you've received notice that your account has transitioned to MOHELA's new loan servicing platform, log in to mohela.studentaid.gov to access the amount of interest paid on your student loans in 2023 after the transition of your account.
It is important to note you may have interest payment information located on both platforms depending on the timing of the transition of your student loan account.
If you have questions about how your student loan interest paid amount may affect your taxes, please contact your tax advisor. For more information on your student loan tax information, visit our Tax FAQ.
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MOHELA Transitioning Loan Servicing Platforms
We're making enhancements! MOHELA is part of Federal Student Aid's (FSA's) long-term servicing solution that will eventually allow you to fully manage your federal student loans on StudentAid.gov. Transitioning to StudentAid.gov will ensure borrowers can continue to successfully manage repayment of their federal student loans in a secure, long-term servicing environment.
MOHELA is currently transitioning to our new StudentAid.gov platform. We will continue to be your student loan servicer and will remain in contact with you regarding updates to your account regarding this transition. You may notice a new look and feel to our website after the transition of your account is complete, as well as changes to our communications. Visit mohela.com/system-transition for more information. To learn more about USDS and how FSA is changing your student loan web experience, visit StudentAid.gov/streamlining.
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High Call Volume
Due to the unprecedented event of millions of student loan borrowers returning to repayment at the same time, you may experience longer than normal wait times to speak to a Customer Service Representative. Self-service is available 24/7 by logging in to mohela.com or StudentAid.gov. There you can explore your repayment plan options which may help to lower your monthly payment amount. We appreciate your patience.
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Saving on a Valuable Education (SAVE) Repayment Plan (formerly the REPAYE Program)
The SAVE plan provides the lowest monthly payment of any income-driven repayment plan available to nearly all student borrowers. If you were previously participating in the Revised Pay as You Earn (REPAYE) plan, you will automatically be enrolled in the SAVE Plan and your payment recalculated before payments resume, no action is required. If you want to enroll in the SAVE plan and calculate what your estimated monthly payment may be, use Loan Simulator.
Note: If you are on the REPAYE alternative plan, you will need to apply for the SAVE plan.
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Income-Driven Repayment Account Adjustment
Update: If you received an email from Federal Student Aid regarding income-driven repayment forgiveness, please know that we are working to process your forgiveness as soon as possible. Once the forgiveness has been applied, you will be notified. Our customer service representatives do not have any further information about this forgiveness to provide at this time.
In April 2022, the U.S. Department of Education announced several updates that will bring borrowers closer to forgiveness under income-driven repayment (IDR) plans.
Based on the newly eligible months from the one-time account adjustment, borrowers who have reached 240 or 300 months' (as applicable) worth of payments for IDR forgiveness or 120 months of PSLF will begin to see their loans forgiven in spring 2023. The Department will continue to discharge loans as borrowers reach the months needed for forgiveness. All other borrowers will see their accounts update in 2024.
For more information, please visit StudentAid.gov/IDRAdjustment.
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Public Service Loan Forgiveness (PSLF)
PSLF Forgiveness: When you reach 120 or more qualifying payments for PSLF, your account is eligible to be placed into a forbearance and no payment will be due. If you prefer to continue making payments, any overpayments will be refunded or applied to your outstanding loans if applicable. You can log in to your MOHELA account to verify your forbearance status. To process forgiveness, a final review of your account will be conducted, which will take at least 60 business days. You will be notified of the results of your forgiveness request once the final review of your account is complete.
PSLF Eligible and Qualifying Payments (Payment Counters): Once your PSLF form has been processed, you will be notified of changes to your payment counts from additional periods of certified employment. If you recently consolidated your loans, your payment counters may temporarily reset to zero as of your consolidation date. Don't worry, as your payment counters will be adjusted as updates are made to your account, including the payment count adjustment toward income-driven repayment. You may use the PSLF Payment Tracker to view adjustments made to your account.
PSLF Employment: Since your qualifying payment count does not automatically increase, using the PSLF Help Tool annually to update your progress toward PSLF and TEPSLF is recommended. Log in to your MOHELA account to review which eligible months may qualify by certifying your employment and submit a PSLF form accordingly. You can use the PSLF Help Tool, which allows you and your employer to digitally sign and submit your PSLF form. Please allow a minimum of 45 days for your PSLF form to be processed. Note: if you submitted a PSLF form, or used the PSLF Help Tool to generate a PSLF form, on or before October 31, 2022, these forms will continue to be processed under the Limited PSLF Waiver rules.
Loan Transfers for PSLF: If you have been notified by your servicer that your loans will be transferring to MOHELA for the PSLF Program, MOHELA will notify you once your transfer is complete. You can learn more about this transfer here. We appreciate your patience during this transition period.