Education Department withholding payment to student loan servicer after billing statement errors ...Middle East

The Department of Education announced Monday that it is withholding millions of dollars in payment to the student loan servicer Missouri Higher Education Loan Authority (MOHELA) over billing statement errors it made.  The department said MOHELA “failed to meet its basic obligation” of getting the statements out in a reasonable timeframe, resulting in 2.5 million borrowers getting late statements. Some of the borrowers only got their bill days before their payment was due.  As a result, more than 800,000 borrowers got put into delinquency status under MOHELA. The department is withholding $7.2 million in its October payment to MOHELA due to the error and told the student loan serv

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