Taxes
When is 1098-E tax information made available?
All tax information will be sent/made available no later than January 31.
Who do you contact for defaulted loans?
What is guarantors.
For DL you contact Debt Management and Collection Services (DMCS) 1-800-621-3115
For FFELP there are several guarantors like American Education Services (AES) 1-800-233-0557
A School representative calls in prior to 5pm to give updated enrollment info without borrower on the phone.
What is Financial Aid Office (FAO) Hotline
888-866-4353
A pro of consolidation for borrowers that had Parent Plus loans, FFELP loans, or Perkins Loans?
Access to repayment plans that may not have been available to you unless you consolidate like IDR plans and Alternative Repayment plans.
If borrower is on auto debit and the monthly installment amount is $32.00, but the payoff amount for the due date is $27.18, what will auto debit withdraw?
What is $27.18.
Borrower requests tax info to be sent. How would you request and how would it be sent?
On the Loans tab under tax information in CLX, you can request a tax letter to be sent for the corresponding year.
What is Claim Submitted on a FFELP loan?
What is a claim has been submitted to the guarantor, but the claim has not been paid and may potentially be recalled.
If an email is received and the sender is not recognizable, contact this department so the company can be protected.
What is IT Security at extension 3000 or ITSecurity@MOHELA.com
A con of consolidation if borrower has not yet entered into repayment?
What is forfeiting the remainder of grace period.
What must MOHELA do to auto debit if the final bill has a payment due that is three time greater than the normal monthly installment amount?
What is cancel auto debit.
How would a borrower get tax information if paid $600 or more in interest for the calendar year?
Form 1098-E will be delivered electronically through paperless delivery for those enrolled.
Form 1098-E will be sent by mail and an email letting them know that tax information is available online.
A re-defaulted loan that has reached day 361, and MOHELA is waiting on approval to send the loan to DMCS?
What is Litigation.
A Public Service Loan Forgiveness application can be sent to this location.
What is FedLoan Servicing, Attn: Loan Forgiveness, PO Box 69184, Harrisburg, PA 17106-9184 or fax to 717-720-1628 or if FedLoans is already your servicer, upload to myfedloans.org/FileUpload
A pro of consolidation when borrower has multiple servicers and find it inconvenient?
What is get one monthly payment with one billing statement for one servicer.
Borrower want auto debit to withdraw on a different date, what should borrower have done?
What is change due date, but due date change request will not change the date of the current bill that has already generated.
How would a borrower get tax information if paid less than $600 in interest for the calendar year?
Form 1098-E will be available by logging into their web account.
Email notification will be sent listing the amount of interest paid, but 1098-E form will not be mailed to borrower unless requested.
To prevent Direct Loans from defaulting, what option for same day processing can be requested within 5 days of defaulting?
What is 355+ Days Delinquent Forbearance requests.
You no longer want anymore loans taken out, so you request to close the Master Promissory Note to this department?
What is US Department of Education, COD School Relations Center, PO Box 9003, Niagara Falls, NY 14302 or call 800-557-8394
A con of consolidation where borrower loses eligibility to defer payments when the student is enrolled at least half-time for what previous loan type?
What is Parent Plus Loans.
If borrower is on REPAYE plan for $0 and requests an additional $100 to be withdrawn, what will EFT do?
What is payment will not be withdrawn.
Direct Loans tax ID numbers?
What is 52-1198289.
How does MOHELA recall a FFELP loan that is Claim Submitted?
What is either make a payment to bring the delinquency below 210 days or be placed on a Deferment or Mandatory Forbearance or have temporary hardship forbearance be placed if borrower agrees to the Repayment Obligations Agreement.
If a school did things or failed to do things that would amount to be fraud with their interactions with a student, the student can contact this hotline to see about getting loan forgiveness.
What is Borrower Defense Hotline at 855-279-6207.
If borrower is enrolled in IDR plans and/or working in Public Service fields or have Perkins loans, would it be a pro or a con to consolidate?
What is con.
What are the three return reasons that will deactivate auto debit if it happens three consecutive withdraw attempts?
What is Insufficient Funds, Stop Payment, and Uncollected Funds.