Students get a grace time before or after their graduation to find out which company is their service provider for the loans. Students who find out that MOHELA is their loan servicer they get stuck on the step to MOHELA login because of the improper information about the MOHELA Login process. MOHELA is a loan service provider for students; students can use MOHELA to log in by just visiting the official website of MOHELA and giving their credentials. They can easily log in and, process their loans and complete their payments by following some very simple steps.
In this guide, we will discuss the MOHELA login and how to create an account, log in, and how to get your loan payments done.
Introduction to MOHELA
MOHELA is an educational contracts department that provides around nine different loan servicers exclusively for students. They provide online customer services and collect federal student loans. One of the most important things is that you should be aware of who your loan servicer is in order to change your loan and payment plan. The platform provides almost 20% of federal student loans.
They have online portals and provide online customer service, but they have their onsite offices in Missouri, Columbia, DC, and Washington. They have been providing loan service for almost over 40 years with the highest rating of A+ with Better Business Bureau, but according to the customer review, their rating is 1 out of 5 which is quite disappointing.
Key Features of MOHELA Loans
Students can benefit from MOHELA loans. Here are some key features mentioned:
Flexible Repayment
One of the best features that makes it best for students is its flexible repayment option. in this way, it helps the students to repay the loan according to their financial situation. Students can choose from various repayment plans such as extended, standard, and income-driven repayment plans.
Competitive Interest Rate
Low and affordable interest is another advantage for the students to choose it over other federal loans. It helps the students to fulfill their education requirements and pay loans easily which does not make a burden for them.
Loan Forgiveness
MOHELA is the favorite just because it supports different loan forgiveness programs by federal. Competitive students and those who don’t afford the government have plans to forgive loans and MOHELA supports programs.
Grace Periods and Deferment Options
Student often faces different challenges after graduation and they are not able to pay loans. MOHELA supports and assists the students by providing deferment options. This provides peace of mind and gives them time to earn and pay later.
What is the Eligibility Criteria for MOHELA Student Loans
MOHELA student loan is not for everyone, it is for those who meet the requirements. These requirements are essential to getting loans and their education. Here are the reliability criteria:
- Students must be the citizen U.S., and if not must meet other requirements.
- It is important to attend or participate in aid programs by federal students.
- Applicant’s age must be above 18 years and a maximum of 25 years.
- A valid social security number is required
- Students have excellent academic progress according to school standards.
- Applicant needs to provide proof of not defaulting on federal student loans.
- FAFSA Submission
Steps to Follow for MOHELA Login
You can easily MOHELA login by following the simple steps given below.
- Open your browser.
- Search for MOHELA login in the search bar.
- Go to the official webpage of MOHELA accounts.
- A MOHELA login page will appear on your screen.
- Enter your Username and correct password.
- Click on the login button.
- If your Username or password is correct, you will be logged in.
- If you have forgotten your Username or password, then you can recover them by clicking on the options of “Forgot User Name” and “Forgot Password”.
Steps to Create a MOHELA Account
There are four steps to go through to create your account for MOHELA loans, which are Account, Security, Paperless and Complete. Follow this guide step by step to create your account.
- Open your browser and go to the official website of “MOHELA“.
- Click on the “Register” button to create your account.
- Enter your “Social Security Number“.
- Enter your exact “Date of Birth“.
- Give your “Last Name“.
- Create a username for your MOHELA loans account.
- Your Username should be between 8 to 50 characters, like letters, numbers, @. – _ ! $ # * &
- Create a strong and “unique password” for your account.
- “Confirm your password” and create some hints for your password in order to recall it if you ever forget it.
- A notice will appear on your screen; read it carefully.
- To agree to this notice, click on the “checkbox” and click the “Continue button“.
Methods to Pay MOHELA Loans
Mohela provides multiple methods to pay so that the students do not face any difficulty while making their payments.
- You can enroll yourself in the MOHELA Auto Debit program so that your payments can be done automatically by your bank account electronically debit.
- You can go to MOHELA.com and make a one-time payment there.
- You can use their toll-free number to make your payment. The toll-free automated number is 888.866.4352, and the international number is 636.532.0600.
- You can use your financial or other bill pay service providers to get your payments done.
- Use your 10 digit MOHELA account number to mail a money check or money order to MOHELA. (This is the longest payment process)
- Your payments must be in US currency, and they must be drawn to the US financial institutes.
- To reach the MOHELA operators you can reach them on timing of 7 a.m. to 9 p.m. CT Monday through Thursday and 7 a.m. to 5 p.m. CT Friday.
MOHELA Repayment Plan Options
For students, MOHELA provides three repayment plans for the students; you can qualify for any repayment plan that suits you.
Standard Repayment
The standard repayment plan includes 120 payments of the same amount that have to be paid within 10 years of the loan.
Graduated Repayment
The graduated payment plan consists of payments that might be low in quantity in the beginning but it will increase with time. This reimbursement plan is designed in a way that your revenue is expected to increase with time so that you have to repay a larger quantity as time passes with the aid of.
Extended Repayment
In extended repayment, they give a long time period but you have to pay extra interest. You can repay after 20 to 25 years and have the choice to back a lower repayment amount.
Income-Driven Repayment Plans
Repayment terms and conditions can be altered and extended if you get yourself qualified for Income-driven repayment plans. They are based on your monthly income, your family size, and the type of student loans you have. Some Income-driven repayment plans are given below.
- (REPAYE) Revised Pay-As-You-Earn
- (IBR) Income-Based Repayment
- (ICR) Income-Contingent Repayment
- (PAYE) Pay As You Earn
- (ISR) Income-Sensitive Repayment
Summary
MOHELA is an educational contracts department that provides around nine different loan servicers exclusively for students. They provide online customer services and collect federal student loans. This is a loan service provider for students, students can MOHELA login by just visiting the official website of MOHELA and by giving their credentials. We hope this guide was helpful for you and you enjoyed reading it.
FAQ’S
Do I have to make a MOHELA account?
Yes, when your payment process is completed and the loan transferred you can create an account on MAHELA.
How many days it takes to proceed MOHELA payment?
Usually, it takes only 2-4 days to transfer payment completely.
How can I check my MOHELA status?
It is straightforward to check MOHELA status you can log in to the website with the user name or download the app to check the status.
What should I do if I forgot my MOHELA login credentials?
You can reset your password or retrieve your username by clicking on the “Forgot Username” or “Forgot Password” links on the login page.
Is there an option to go paperless with MOHELA?
Yes, you can opt to go paperless with MOHELA.
