Results for: Loan Forgiveness

The US Department of Education has begun transferring over 1 million student loan borrowers from Mohela to different loan servicers. Mohela had been facing controversy and criticism for its handling of loan servicing, including failing to send timely billing statements and causing delinquencies for hundreds of thousands of borrowers. The Education Department has withheld millions in payments to Mohela for its errors. Amidst the transition, borrowers will receive alerts from both Mohela and their new servicer. They will need to establish an online account with their new servicer and may need to reenroll in automatic payments to receive the discounted interest rate.

United Way Worldwide has partnered with Savi, a free service that can help Americans with student loan debt find programs to reduce loan payments or qualify for loan forgiveness. Savi’s program has helped users save an average of $156 monthly on their loans and find an average of $38,980 in lifetime savings. The service is free to everyone across the U.S., regardless of income or student loan debt amount.