Hold Student Loan Servicers Accountable for Billing Mistakes

Federal student loan repayments restarted recently, and thanks to a major mistake by a private student loan processing company, nearly 800,000 people failed to make their October payment on time.

The Higher Education Loan Authority of the State of Missouri, better known as MOHELA, failed to send billing statements to roughly 2.5 million student loan borrowers.

Companies like MOHELA are trusted by student loan borrowers and the federal government to service student loans in a professional and helpful manner. When they fail to do so, like they did last month, student loan borrowers pay the consequences.

Thankfully, Biden administration is fighting back and holding MOHELA accountable. It announced this week that it is withholding $7.2 million in payments to the company.

Sign the petition thanking the Biden administration for holding MOHELA accountable and urging it to continue fighting on behalf of student loan borrowers.

"We will not allow borrowers to suffer the consequences of gross servicing failures," Education Secretary Miguel Cardona said in a statement.

"We are committed to fixing our country's broken student loan system, and that includes strengthening oversight and accountability and taking every step possible to improve outcomes for borrowers," he continued.

Add your name to the petition thanking the Biden administration for holding MOHELA accountable and urging it to continue fighting on behalf of student loan borrowers.