- July 25, 2022
- Posted by: Shane Cummiskey
- Category: News
The Fed loan program is ending for all customers in the coming months. The fed loan program helped process Public Service Loan Forgiveness (PSLFs) for student loans. However, The Fed Loan program will now be transferred to the MOHELA, Edfinancial, or Aidvantage program. The MOHELA program is similar to the Fed loan program and will take over (PSLFs).
These new programs will help transition from the old system of operation of the Fed loan program to these new programs. These new programs, however, are not ready for the significant changes. There is a major backlog because Fedloan has to transfer old files, documents, and other information to these new programs such as MOHELA and Edfinancial.
Many companies dealing with student loans also have to transfer their information to these new programs. Hope credit aims to transfer 90 percent of these clients to these newly established programs. In one year, the fedloan program will come to an end. All clients must be transferred to these programs to receive service from these providers.
If a former or current student fails to transfer their loans from Fed loan to MOHELA, or these other programs, they will no longer receive essential services. Without these services, an individual with student loan debt can suffer significant delays in obtaining relief for their student loans. Hope credit will help to make the process operate smoothly.
Hope credit will help a client with answering information and keeping up to date on any changes to these new programs. You can come to our physical office at 6375 S Pecos Rd #224 Las Vegas, NV 89120, or call us at (760) 916-9313. Our business hours are Monday – Friday, 8:30 am to 5:00 pm. If you can’t reach us in the office or by phone, you can always email us at email@example.com.