Consumer complaint received 2023-10-17
Company: MOHELA
State: OH
Product: Student loan
Sub-product: Federal student loan servicing
Issue: Dealing with your lender or servicer
Sub-issue: Need information about your loan balance or loan terms

Complaint:
Hello! 

I'm reaching out again because complaint # XXXX filed on XX/XX/XXXX, has not been resolved. I'm still waiting on the full detailed payment history on my loans to understand why interest accrued. I checked my online account today with MOHELA and saw that interest started accruing again since the start of repayment last month, but it seems to me that interest should not be accruing on the XXXX plan based on changes made by the Biden Administration. 

I've spent countless hours on the phone with MOHELA and with XXXX. XXXX XXXX was my previous servicer until early this year. MOHELA says the interest occurred under XXXX XXXX ' watch and said that I needed to call XXXX which now owns XXXX XXXX in order to obtain payment history. XXXX insists the full payment history was sent to MOHELA with the loan and that, because XXXX retained nothing, it was unable to send me the payment history. I'm in a loop going back and forth with no resolution. 

Please see below for my note that I sent to MOHELA today using their online messaging system from my account, and please assist me in obtaining the detailed payment history for my loans. 

Thank you. 

-- - Hello! 

I have spoken with your team multiple times requesting a full payment history on my loans to understand how I ended up with accrued interest in the transfer of my loans from Great Lakes to MOHELA. I also spoke with the new owner of XXXX XXXX, XXXX, to see if they could provide the history. XXXX assured me the history was sent over to MOHELA with the loans. XXXX did not retain information about my loans. I've received communication from MOHELA, but none of that communication includes any detail whatsoever as far as the actual payment history on the loans. 

Today I checked my account and noted that the amount of accrued interest increased from {$1200.00} on XX/XX/XXXX, to {$1400.00} today. I was assured by a supervisor at Mohela that the interest would not capitalize when loans entered repayment after the pandemic pause. I don't understand how it's growing interest at this point given the changes enacted by the Biden Administration. See below for the excerpt from the website your team provided to me to educate myself on the XXXX plan. 

I've made many, many phone calls ( and spent a ton of time on hold ) trying to get this resolved since XX/XX/XXXX. 

Please mail me the full payment history on both of my loans to my mailing address on file ASAP, please. I want to see the full detail for the history of the loans. 

Also, please provide me with an explanation for why further interest is accruing since the loans entered repayment last month. You can include that with the payment history or message me back here on this platform. 

I'll reach out to the CFPB again regarding this issue as well. 

Thank you. 


Regards, [ REDACTED ] https : //studentaid.gov/announcements-events/save-plan The plan eliminates 100 % of remaining interest for both subsidized and unsubsidized loans after a scheduled payment is made under the XXXX XXXX. 
If you make your monthly payment, your loan balance wont grow due to unpaid interest. 
For example : If {$50.00} in interest accumulates each month and you have a {$30.00} payment, the remaining {$20.00} would not be charged.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation