Senator Warren Calls Out MOHELA: Allegations of Mismanagement
MOHELA CEO Summoned to Congress Amidst Growing Criticism
According to Smart News Massachusetts Senator Elizabeth Warren is very upset with MOHELA a company that manages student loans. She says they are making it hard for people to get rid of their debt and are not handling their payments properly. Warren wants the boss of MOHELA, Scott Giles to come and talk to Congress about these problems on April 10. She’s especially worried about how MOHELA is dealing with a program that forgives student loans for people who work in public service jobs.
(PHOTO:
Spinwheel)Massachusetts Senator Elizabeth Warren Leads Charge Against Student Loan Managers of MOHELA Amidst Debt Confusion and Unfair Practices
Political Pressure Mounts as Multiple Lawmakers Join Warren in Criticism of Student Loan Servicers
Warren is not the only one who is unhappy with MOHELA. Other politicians like Senate Majority Leader Chuck Schumer and Senator Bernie Sanders are also criticizing the company. They want to investigate what’s going wrong and make sure that MOHELA is treating people fairly. It’s not just MOHELA though—other companies that manage student loans are in trouble too like Nelnet, Aidvantage, and EdFinancial. People who have student loans are really struggling because of all this. They’re confused and frustrated because they thought they were done paying back their loans but then MOHELA said they still owe money. This shows that something needs to change in how student loans are managed. Warren is pushing for Congress to look into this issue and find ways to help borrowers who are having a tough time.
READ ALSO: 3 top Democratic lawmakers are calling for an investigation into a major student-loan company, accusing it of ‘loan forgiveness mismanagement’ for millions of borrowers
