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Student Loan Shock: Partial Loan Suspension Death Blow?

The Public Service Loan Forgiveness program (PSLF) is temporarily suspended until July as the Biden administration makes improvements. During this time, borrowers will not be able to see their payment counts on the MOHELA website, and applications for loan forgiveness will not be processed. However, borrowers can still make payments, and those payments will count towards loan forgiveness once the transition is complete. Borrowers can request a forbearance if they qualify for debt cancellation during the transition.

Loan Shocker: Student Loans Facing Surprise Transfer! Act Now to Avoid Hidden Fees!

Due to issues with their current provider, Mohela, the Department of Education will move over a million student loan borrowers to new servicers. The process is underway, and affected borrowers will receive notifications and need to set up new accounts with the new servicers. Automatic payments may need to be re-enrolled to receive discounts. If you encounter problems with your servicer, you can file a complaint with the Federal Student Aid unit.