Oct. 30, 2023 10:38 am ET
The Education Department will withhold a $7.2 million monthly payment for a major student loan processor because it failed to send out timely billing notices to millions of borrowers.
The Monday move against Mohela, the Missouri Higher Education Loan Authority, comes as the government and the contractors who handle the billing and repayment program enrollment for federal student loans struggle with returning 28 million borrowers to repayment after a more than three-year pandemic-era pause.
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