The Higher Education Loan Authority of the State of Missouri, aka the Missouri Higher Education Loan Authority, or MOHELA, is one of the largest holders and servicers of student loans nationwide. Headquartered in Chesterfield, MO, MOHELA’s mission is to “eliminate barriers for students so they can access higher education.” To this end, MOHELA provides student and parent borrowers direct access to higher education loans and resources to help plan for higher education. In addition, MOHELA sponsors interest rate reduction for qualified borrowers, several student loan consolidation plans and loan forgiveness programs.
Today, as a secondary market in the Federal Family Education Loan Program (FFELP), MOHELA services and purchases student loans in cooperation with national and local lending institutions. MOHELA owns and services more than $5.4 billion in student loans and services for other lenders a student loan portfolio in excess of $1 billion.
No comments:
Post a Comment