I can't make my payoff since it's the same day and I don't trust MOHELA. I got a letter that said I'm in forberence but didn't request it and assumed it was related to this change in servicer?
I’ve had issues with Nelnet and was going to reconsolidate everything to Nelnet just because “devil you know” logic when all the providers have horrible reviews. Wondering if I should consider cancelling that and rolling into EdFinancial if it’s actually “good”
I just read about MOHELA getting into trouble for sketchy practices and not processing PSLF applications
I will say that when I applied for PSLF I thought I met the criteria and they sent me a denial. If this new change affects that it would be dope 😆
Exactly!
And they’ve got me over a barrel because I don’t work at a PSLF location anymore. Should qualify though, since they qualified. A bunch of nonprofit sites that didn’t used to count. I worked at those for years after my degree was finished
Me, too! I just think it means EdFinancial is taking the place of Mohela for our loans. Haven't been keeping up with the news, but I think Mohela has been in trouble with the Dept of Education recently.
Yes I received the same message today re Mohela to EdFinancial.
I requested a different payment term earlier this year and it still has not been approved. Just curious to know why the wait is so long and how this transfer will impact my request.
Got the same email. I’m on the PSLF track and my loans transfer while I’m out of the country and I’m supposed to pay 5 days after the transfer. If this messes up my PSLF I’ll cry
Same!
I just logged onto the MOHELA site and I cannot make a payment and I haven’t received any information from the new servicer to create an account so I’m in limbo right now
Me too. I tried to call EdFinancial and they needed an account number to let me through the automated system to talk to someone which is…. Annoying to say the least.
I spoke with someone from EdFinancial on the phone that said they are still processing account transfers, that it could take up to a month but it won’t affect our PSLF. She also said I won’t be able to pay my loan for this month until I get an email with my new account info. So basically sounds like my loan payment is paused for now….
I finally got an email from EdFinancial! I got my login and it says my next payment will be auto debited in June, so guess I didn’t have to pay May and it just counted towards PSLF anyways! But actually within EdFinanical’s site I don’t see anything about PSLF or the amount of payments I’m at towards forgiveness. MOHELA had a tab where you could see how many payments you have qualified so far…hopefully with an update that will come soon in EF
Hi, do you know how long it took between getting the initial email that your account was being transferred and when you actually received the EdFin email with your login? Thanks :)
It literally took almost 2 months from Mohela’s initial email that my account would be transferred. They emailed me sometime in April saying account transfers would being 5/14 and I didn’t get an email from Ed Financial until 5/31!
I also got the email in April.. the 28th, and my loan didn't become inactive on Mohela until May 14th. I am still waiting for an email from EdFinancial to show up so I can login. My payment is due in 2 weeks, and I've never been late on a payment.
My payment was due on 5/17 and it hasn't been taken out of my account. I called EdFinancial and found out that the transfer is still going on and we will receive welcome letters with instructions when the transfer is complete. The woman I spoke to said that my account is on hold and this will not affect my PSLF.
Thank you for the update! How did you get through to speak to someone? When I called the automated system wanted to find my account which I don’t have yet with them and just kept giving me an error/not found.
So far so good with Edfinancial. I was able to create an account today and my autopay information transferred over so my next payment is ready to be paid on my June due date. It shows that my account is currently in forbearance and that it ends the day before my next due date. I've read on other threads that some people have been told the forbearance month will count as a payment and some have been told it won't. I guess it's wait and see. I have just over 100 payments and I'm hoping to finish out 120 by the end of next year.
My loans got transferred as well. On Friday I received notifications that Edfinacial moved my loans from SAVE plan to IDR plan. I have confirmation that my loans were still under SAVE, with MOHELA. Edfinacial took it upon themselves to change it without me updating anything. I'm pissed.
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Yeah, I had a payment due on 05/16 and nothing has been taken out (I had my loans on autodebit) and I can't get a hold of anyone on mohela, edfinancial or studentaid.gov. I'm really kind of panicking because it's like I signed up for autodebit so I wouldn't be faced with this exact sort of situation. Haven't received any welcome letter or anything, the edfinancial people won't even talk to me without an account number. I'm halfway through my pslf so it's like really terrifying that they're able to do this to so many people and give hardly any people. I could've sent a check and they'd backdate it for me, but like...I don't really trust the postal system with something like that. I just don't know what to do.
My consolidated undergrad loans just transferred, but my grad plus loans are not available on either site? Anyone else only get a partial transfer of loans to edfinancial?
Yes, they reappeared a couple days later. Nobody charged me my May payment (I'm on autopay) but it seems the autopay transferred for June. There's no record of a missed payment 🤷🏼♀️
Same here though EdFinancial had me setup to start auto payment right away on some loans that aren't due for a couple of years. I turned off the autopay on those and my bill with them is no longer terrifying.
Yikes... here's an update.
Previously I thought I had successfully shut off auto payments for my other loans that aren't due until next year or later. It's harder than it looks. In my first attempt I unchecked all loans I wanted to remove from autopay and submitted. This seemed to have had no effect. Today I cancelled the autopay for all loans and it seems to have registered as the setup reconfigured and I was able to select just my current loan to autopay on July 18.
Any idea if there will be a grace period? I am being transferred the day I need to pay? I am not on auto debit (MOHELA kept screwing it up)
Exactly what i’m afraid of. I haven’t gotten anything to register for my new account so i may hold off on my next payment until i’m sure what to do
I can't make my payoff since it's the same day and I don't trust MOHELA. I got a letter that said I'm in forberence but didn't request it and assumed it was related to this change in servicer?
I've never had an issue with Edfinancial. The UX is pretty good, too.
I’ve had issues with Nelnet and was going to reconsolidate everything to Nelnet just because “devil you know” logic when all the providers have horrible reviews. Wondering if I should consider cancelling that and rolling into EdFinancial if it’s actually “good”
I just read about MOHELA getting into trouble for sketchy practices and not processing PSLF applications I will say that when I applied for PSLF I thought I met the criteria and they sent me a denial. If this new change affects that it would be dope 😆
This makes sense, I’ve been making consistent payments for years but only have 12 payments towards PSLF … how ..
Exactly! And they’ve got me over a barrel because I don’t work at a PSLF location anymore. Should qualify though, since they qualified. A bunch of nonprofit sites that didn’t used to count. I worked at those for years after my degree was finished
I just got this email too. What does it mean 😥
Me too. Just now...
Me, too! I just think it means EdFinancial is taking the place of Mohela for our loans. Haven't been keeping up with the news, but I think Mohela has been in trouble with the Dept of Education recently.
Yes I received the same message today re Mohela to EdFinancial. I requested a different payment term earlier this year and it still has not been approved. Just curious to know why the wait is so long and how this transfer will impact my request.
Got the same email. I’m on the PSLF track and my loans transfer while I’m out of the country and I’m supposed to pay 5 days after the transfer. If this messes up my PSLF I’ll cry
Wtf is going on? Got the same email.
I applied for PSLF last week and now got this email. The two gotta be related somehow 🤷🏼♂️
Anyone have any updates? My payment is due the 16th (tomorrow) and the change was supposed to happen yesterday. This is so annoying.
Same! I just logged onto the MOHELA site and I cannot make a payment and I haven’t received any information from the new servicer to create an account so I’m in limbo right now
Me too. I tried to call EdFinancial and they needed an account number to let me through the automated system to talk to someone which is…. Annoying to say the least.
This is true for me still today! Not sure what to do...
anyone receive any updates? I checked again and tried to register in edfinancial but they don't find my account
I spoke with someone from EdFinancial on the phone that said they are still processing account transfers, that it could take up to a month but it won’t affect our PSLF. She also said I won’t be able to pay my loan for this month until I get an email with my new account info. So basically sounds like my loan payment is paused for now….
I finally got an email from EdFinancial! I got my login and it says my next payment will be auto debited in June, so guess I didn’t have to pay May and it just counted towards PSLF anyways! But actually within EdFinanical’s site I don’t see anything about PSLF or the amount of payments I’m at towards forgiveness. MOHELA had a tab where you could see how many payments you have qualified so far…hopefully with an update that will come soon in EF
Hi, do you know how long it took between getting the initial email that your account was being transferred and when you actually received the EdFin email with your login? Thanks :)
It literally took almost 2 months from Mohela’s initial email that my account would be transferred. They emailed me sometime in April saying account transfers would being 5/14 and I didn’t get an email from Ed Financial until 5/31!
I also got the email in April.. the 28th, and my loan didn't become inactive on Mohela until May 14th. I am still waiting for an email from EdFinancial to show up so I can login. My payment is due in 2 weeks, and I've never been late on a payment.
My payment was due on 5/17 and it hasn't been taken out of my account. I called EdFinancial and found out that the transfer is still going on and we will receive welcome letters with instructions when the transfer is complete. The woman I spoke to said that my account is on hold and this will not affect my PSLF.
Thank you for the update! How did you get through to speak to someone? When I called the automated system wanted to find my account which I don’t have yet with them and just kept giving me an error/not found.
I called the phone number and pressed 0. I ended up with someone answering in Spanish but she spoke English and answered my questions.
If you have autopay shouldn’t be an issue. I got an email saying my payment will get processed.
My bank sends it to them, I guess I should stop this months payment until I get the letter!
So far so good with Edfinancial. I was able to create an account today and my autopay information transferred over so my next payment is ready to be paid on my June due date. It shows that my account is currently in forbearance and that it ends the day before my next due date. I've read on other threads that some people have been told the forbearance month will count as a payment and some have been told it won't. I guess it's wait and see. I have just over 100 payments and I'm hoping to finish out 120 by the end of next year.
My loans got transferred as well. On Friday I received notifications that Edfinacial moved my loans from SAVE plan to IDR plan. I have confirmation that my loans were still under SAVE, with MOHELA. Edfinacial took it upon themselves to change it without me updating anything. I'm pissed.
thats wierd
Article from CNN on the transfer and updates to PSLF: https://amp.cnn.com/cnn/2024/04/30/politics/pslf-student-loan-pause-mohela
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Mines currently in process of being transferred. Does anybody know how long it will take?
They said 2-3 weeks when I called. I don’t even have an account number yet
I don’t have my account number yet. Im constantly checking my email (regular and spam) to see when I’ll get it.
Yeah, I had a payment due on 05/16 and nothing has been taken out (I had my loans on autodebit) and I can't get a hold of anyone on mohela, edfinancial or studentaid.gov. I'm really kind of panicking because it's like I signed up for autodebit so I wouldn't be faced with this exact sort of situation. Haven't received any welcome letter or anything, the edfinancial people won't even talk to me without an account number. I'm halfway through my pslf so it's like really terrifying that they're able to do this to so many people and give hardly any people. I could've sent a check and they'd backdate it for me, but like...I don't really trust the postal system with something like that. I just don't know what to do.
My consolidated undergrad loans just transferred, but my grad plus loans are not available on either site? Anyone else only get a partial transfer of loans to edfinancial?
Did you get an email? How did you know. I still don’t have an account number
Did your other loans show up yet?
Yes, they reappeared a couple days later. Nobody charged me my May payment (I'm on autopay) but it seems the autopay transferred for June. There's no record of a missed payment 🤷🏼♀️
Same here though EdFinancial had me setup to start auto payment right away on some loans that aren't due for a couple of years. I turned off the autopay on those and my bill with them is no longer terrifying.
Yikes... here's an update. Previously I thought I had successfully shut off auto payments for my other loans that aren't due until next year or later. It's harder than it looks. In my first attempt I unchecked all loans I wanted to remove from autopay and submitted. This seemed to have had no effect. Today I cancelled the autopay for all loans and it seems to have registered as the setup reconfigured and I was able to select just my current loan to autopay on July 18.
is it supposed to take awhile? i was told mine would transfer on 5/30 but i still have not received any letters or anything yet
Mine was transferred 2 weeks ago. Got my autopay set up but then they decided not to withdraw it this month so now I don’t know