box 1022 chesterfield, mo 63006-1022. mohela provides a monthly loan status update to the four With over 35 years in the student loan servicing industry, we have the expertise to help manage your loans. all of which are fully vetted. Another 24 hour access option is to pay by phone through our automated system at 877.292.6845 (Toll Free). All Rights Reserved. MOHELA Is a Servicer to Federal Student Aid. Again, we welcome competition—it’s healthy for borrowers like you, leading to lower rates and better overall experiences. Laurel Road Student Loans vs SoFi Student Loans. Laurel Road refinances student loans for working professionals with four-year undergraduate and/or graduate degrees from Title IV accredited institutions, as well as for professionals who have an associate degree* in designated professions. The For You may pay by using any of the following methods: Enroll in MOHELA’s Auto Debit Program to have automatic payments electronically debited from your bank account. Communications you should expect to receive from MOHELA for your Laurel Road education finance loan servicing include, but are not limited to: Variable rate loans are based on the Three Month Libor rate. Laurel Road Education Finance Loans Serviced by MOHELA, "Copyright © 2021 Higher Education Loan Authority of the State of Missouri(MOHELA). We’re here to assist you when it's convenient for you. When a document or bill has been New Message For Direct Loan Borrowers Serviced by MOHELA: Federal student loan flexibilities for the COVID-19 emergency have been extended through Jan. 31, 2021. It can be! repayment schedule interest rate does not reflect the Auto Pay discount as Student loans refinanced with Laurel Road will continue be serviced by MOHELA, our student loan servicing partner. DA: 18 PA: 12 MOZ Rank: 30 Phone: (877) 292-6845 Beware of Scams During COVID-19 Financial scammers often take advantage of consumers during times of crisis and/or economic uncertainty. There just needs to be more personalization and information available. variable rate loans issued on the Three Month LIBOR rate, the LIBOR is 0.22% effective January 1, 2021 - March 31, 2021. Laurel Road is a good option to maintain your federal loan grace period. You are not required to make payments at this time. Laurel Road offers some of the most competitive refinance rates. ", how Federal Student Aid partners with loan servicers, list of our trusted federal student loan servicers. Laurel Road was acquired by KeyBank on April 1, 2019. "Copyright © 2021 Higher Education Loan Authority of the State of Missouri(MOHELA). You can view your documents via “My Messages.”. (YOU HAVE ONE JOB!) You have a network of support to help you succeed with your federal student loan repayment. convenience. Note: The Reply. schedule will be provided that will include your new monthly payment amount, Our offices will be open on Monday, January 18. Use our automated phone system at 888.866.4352 (Toll Free) or 636.532.0600 (International) all of which are fully vetted. how Federal Student Aid partners with loan servicers Laurel Road, a division of Darien Rowayton Bank, offers student loan refinancing for undergraduate, graduate and parent loans. The websites appear to be exactly the same in every way except for a change of logo. All Rights Reserved. You may Key Bank, the company behind Laurel Road, is a traditional bank (before 2019 Darien Rowayton Bank owned Laurel Road). In certain situations, you may qualify to have your Laurel Road loan(s) discharged, meaning that you will no longer be required to repay your loan(s). Share. by Laurel Road. contact information up to date so that we may notify you promptly if your account is past due. one-time payment at your MOHELA is committed to keeping our customers informed should any interruption in services occur. We encourage you to set variable rate loans issued on the One Month LIBOR rate, the LIBOR is 0.15% effective January 1, 2021. During this time no interest is accruing and no payment will be due before Feb. 22, 2021 (unless you opted out of the forbearance). I recently switched a loan from Sofi to LaurelRoad and although they both use Mohela as the loan servicer for payments and such, they have differently pre-fixed websites. 855 Main St, 8th Floor, Bridgeport, CT 06604, USA. dedicated resource expert. Schedule a Call Today! Forbearance and Deferment Programs MOFELP Standard Forbearance. list of our trusted federal student loan servicers, You can visit StudentAid.gov to see a MOHELA is dedicated to providing full access to all resources to ensure your servicing experience is exceptional. If your interest rate changes, your monthly payment amount will be recalculated. Payments are accepted via mail but Therefore, it is important to keep your Also an app would be nice for the laurel road/Mohela brand. to be here when you need help. with over 35 years in the student loan servicing industry, we have the expertise to help manage your loans. Plus, it helps the environment! To aid in repaying your student loans, we 35 years in the student loan servicing industry, we have the expertise to help manage your loans. Notifications are available before your bill is due, when your payment posts to your account and if your account becomes past due. Laurel Road will operate as a brand of KeyBank and will continue to provide best-in-class lending products under this name. Laurel Road Contact Us (1 days ago) If you have questions about any of our products, please visit laurelroad.com or email us at [email protected]. up a web account for 24-hour access to account information and accrues daily on your outstanding principal balance from date of disbursement until the loan is Paid in Full. If you can afford to make even some payments while you are in your grace period, it will save you money down the road and reduce the total amount that you repay. No lender can meet every applicant’s needs. Shelby B 1 review. Unfortunately, this does not apply to Laurel Road private educational loans because they are not held by a Federal Government Agency. For any immediate issues about your Laurel Road loan serviced by Mohela, please contact Mohela. (YOU HAVE ONE JOB!) Learn more about Auto Debit.. Make a one-time payment on MOHELA.com . When it came to signing my loan it was just so difficult. generated, an email will be sent advising to log in to your web account. This can be updated directly through MOHELA or during the exit counseling process. With any How does it compare to SoFi? Due to the federal holiday weekend, payments may take up to five days to post to your account. Schedule a call with a MOHELA Specialist. These protections offer peace of mind in case the worst happens. President Trump recently announced that interest will be waived for all student loans held by Federal Government Agencies. It turns out that wayyyy back in early November Laurel Road cut a check to Sofi and sent it to the wrong address. For MOHELA is committed to providing Laurel Road customers a first-rate customer experience. payments are not calculated with the discounted interest rate. To receive correspondence quickly and easily, you can sign up for Paperless communication. Laurel Road will also forgive the total amount of your refinanced student loan should you die or become permanently disabled, something that most but not all student lenders offer. As we noted in our Laurel Road Review, being a product of a conventional bank stands in stark contrast to many of the top student loan consolidation companies … Find out You can visit StudentAid.gov to see a payments are not calculated with the discounted interest rate. We offer tools and resources along with dedicated Senior Account Relations Specialists to answer your We provide 24 hour web access to schedule a With over To ensure the best possible experience, MOHELA offers the option to schedule a call back to discuss your account inquiries at a time Guess what’s not pending…the interest on $191,000 odd dollars at Sofi-Mohela and $194,000 at Laurel Road. questions and help you navigate through your loan’s life cycle to successfully repay your loans. management. Disclaimers. Laurel Road offers highly competitive student loan rates and terms. Can't connect Laurel Road Loan serviced by Mohela. MOHELA offers several options to make monthly payments. that is convenient for you. To pay by mail, please remit to: MOHELA provides a monthly loan status update to the four major Consumer Reporting Agencies. Useful. If you are experiencing difficulty making your payments due to the Coronavirus situation contact us to discuss your forbearance options available to temporarily postpone your monthly payment. sofi.mohela.com vs laurelroad.mohela.com. Payments applied will go to late fees, if New to MOHELA (5 days ago) Your new education finance loan is now being serviced by mohela on behalf of laurel road. The acquisition was specifically for Laurel Road’s lending business, and includes our online lending platforms offering Student Loans, Mortgages, and Personal Loans. ", how Federal Student Aid partners with loan servicers, list of our trusted federal student loan servicers. change to the LIBOR rate, variable rate loans will re-amortize and a repayment MOHELA is the loan servicing company for Laurel Road student loans. Learn more about Laurel Road's private graduate student loan options today. Customer service updates will be posted here. promise to listen, offer customized solutions to meet your specific needs and provide superior guidance as your Laurel Road, the student loan refinancing program endorsed by the ADA, announced March 17 it is working with federal agencies and their servicing partner, MOHELA, to understand the specifics of a federal student loans program the Trump administration announced March 13 in response to the coronavirus disease, known as COVID-19. A Standard Forbearance allows a borrower to temporarily reduce the monthly loan payment … Clients using a … Difficulties. Read our comparison chart below. identify which LIBOR is applicable to your loan on the Final Disclosure issued repayment schedule interest rate does not reflect the Auto Pay discount as [Update: Laurel Road is now also providing a $150 bonus to new customers] The Laurel Road Advantages. You have a network of support to help you succeed with your federal student loan repayment. What to keep in mind about Laurel Road student loan refinancing . Your new education finance loan is now being serviced by MOHELA on behalf of Laurel Road. Laurel Road Education Finance Loans Serviced by MOHELA Your new education finance loan is now being serviced by MOHELA on behalf of Laurel Road. Refinancing to a longer term may lower your monthly payments, but may also increase the total interest paid over the life of the loan. The health and well-being of our customers, staff, and our community are a top concern during the emerging Coronavirus (COVID-19) situation. list of our trusted federal student loan servicers, Laurel Road is a federally registered service mark of KeyCorp. It turns out that wayyyy back in early November Laurel Road cut a check to Sofi and sent it to the wrong address. payment amount. Guess what’s not pending…the interest on $191,000 odd dollars at Sofi-Mohela and $194,000 at Laurel Road. Find out to pay by mail, please remit to: mohela p.o. Is Laurel Road Good For My Student Loans? interest rate (margin plus LIBOR), and the effective date of your new monthly to be here when you need help. Does Laurel Road Offer Any Bonuses or … MOHELA is committed to giving our customers a first-rate experience. If you have any questions about your student loan payments after funding your loan with Laurel Road, please call MOHELA at (877) 292-6845. how Federal Student Aid partners with loan servicers This delay will not change the effective date of the payment. If you have a large loan balance and are a highly qualified borrower, chances are Laurel Road will be the best fit. If you are directly impacted by Coronavirus or you are experiencing interruption, reduction or loss of pay due to the National Emergency we can help you. for customers with questions about your existing loan, you can avoid long hold times by emailing us at [email protected], or contacting us via the messages tab on your account dashboard. applicable, interest due, then principal balance. Enroll to receive correspondence faster through your secure online account. For Laurel Road customers experiencing financial hardship, you may be eligible for a short term forbearance. Interest may take up to 7 business days to post to your account. MOHELA Is a Servicer to Federal Student Aid. Where Are Laurel Road Loans Serviced? MOHELA, or The Higher Education Loan Authority of the State of Missouri, is one of the nation’s largest student loan servicers, utilized by us here at Laurel Road as well other prominent competitive lenders. 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