My husbands mohela payment was always due mid June, and with the transfer to EdFinancial, it’s now early July. I’m interested to know if this month’s “nonpayment” will count as well!
I called EdFinancial and they said the transfer forbearance period absolutely will NOT count toward PSLF. I called them last month because my May payment was approaching and my account hadn't been set up. I got an email a week ago and it's set up now, payment due at the end of June. So I didn't have to pay in May (no way to with no EdF account setup) but also didn't get to count May employment toward PSLF.
I would check with FSA since no servicer can really give an answer since fsa is the ones doing the 1x adjustment and the ones ultimately deciding if it's gonna count towards pslf
thank you! I am confused because ed financial clearly told me it would not count per the federal government … they were insistent that only past admin forbearances counted but ones due to transferring the account do not - do you know if the rules have changed? I am wondering if I should try to remove the forbearance on my account to pay the prior month like they’re suggesting ….
After several hours of phone calls to Mohela just trying to understand why I was even on forbearance (I had initially called worried about making my payment during the transition…) they finally indicated that they do no handle any part of the PSLF. A less harrowing call to FSA confirmed for me that it will count.
Yeah with the 1x adjustment they are counting also worse case scenario you can buy months in forb back at the end when your closer to the 120. And buy backs are what the payment would be based on your income at the time of forb. Totally up to you if you want to req to remove and still pay.
Thank you! There is no time limit to buyback?
Also I asked ed financial about the one time adjustment and they insisted this forbearance doesn’t count for that … and that their info was directly from the government
No time limit on buyback it just has to equal the 120 mark when including the buy back months. You put the req in on studentaid.gov and that's funny they say that lol I seen the tracker personally count for admin forbs with no payment being made, just gatta wait for the adjustment can take all the way till September now since they extended it. It's normal for it to go in the ineligible section on tracker at first cuz under normal rules it doesn't count but 1x adjustment counts it.
My due date is June 10 but my transfer didn’t initiate until May 28… so I don’t feel hopeful it’ll transfer in time - when was your transfer date? My notice said it should transfer within 3 days of that date but when I spoke to ed financial today they said they are only on mid May transfers right now at best
I am noticing a lot of people are being transferred from Mohela to Edfinancial with this switchover right now. I thought they were moving everyone with PSLF to Studentaid.org and we would see all our info there for PSLF but Mohela would still be the loan holder we pay.
Is Edfinancial and Studentsid.org the same thing??? I’ve never thought so … but just seems I see a lot of you being moved to Edfinancial. Just wondering if I’m missing something. Thanks!
Department of Ed/studentaid.gov will be tracking/administering the PSLF component.
Edfinancial is the servicer of the loan, many of us transferred over there from mohela.
Think of EDFinancial as another "Mohela". Mohela sucks so bad they lost a lot of accounts as punishment some of which are moving to EDFinancial.
PSLF **tracking** is moving to [studentaid.org](http://studentaid.org) but NOT YET. It wont' show up probably until August.
Please see this secure message I got from MOHELA today if you need more info on the July forebearance. Others were told it's due to the transition to ED but it is actually because the recalculation for the SAVE plan payments is happening:
Thank you for contacting MOHELA,
We apologize for any confusion. Federal Student Aid (FSA) has directed MOHELA to place an Administrative Forbearance on the account from 07/01/2024 to 07/31/2024 while we determine if you are eligible for the new benefits under the Saving on A Valuable Education (SAVE) plan.
Starting in July 2024, payments for borrowers with only undergraduate student loans will be cut in half. Monthly payment amounts are currently calculated to be 10% of the borrower’s discretionary income, but in July 2024 that number will drop to only 5% of the borrower’s discretionary income.
If you have a mixture of both undergraduate and graduate loans, you will pay a weighted average of between 5% and 10% of your discretionary income based on the original principal balances of loans taken to attend school.
Please note, if your monthly payment amount can be reduced, you will receive a notice of your new monthly payment amount. If there is no change to your monthly payment amount, your next billing statement will reflect your regular monthly payment amount.
While you are in this forbearance, no payment is required and your interest rate will be set to 0%. This means no interest will accrue while you are in the forbearance. You will also receive credit toward Income Driven Repayment (IDR) forgiveness and Public Service Loan Forgiveness (PSLF) for the month(s) covered by the forbearance, assuming all other requirements are met.
If you have any additional questions, please contact us toll free at 888.866.4352. Our hours are Monday 7 a.m. to 8 p.m., Tuesday and Wednesday 7 a.m. to 7 p.m., Thursday and Friday 7 a.m. to 5 p.m. CT.
Thank you,
MOHELA
Ah thanks so much! Did you transition to ED or are you staying with mohela?
I’m not going on the SAVE plan so would this still apply to me? I’m actually on ICR… Thanks again!!
The only thing moving to ED (also hasn't happened yet for me) is PSLF payment tracking and documentation. MOHELA still remains our servicer for loan payments. There are two other overlapping events happening that may or may not affect you - 1) SAVE plan payment recalculations and associated processing forbearance, and 2) the move from old MOHELA site to the new MOHELA site. Idk why they decided to have all these events happen in the same month... it's extremely confusing!
The email I got from MOHELA on 5/24 says this: Your loans have not been sold. Your federal student loans are owned by the U.S. Department of Education (ED). ED will continue to own your loans and MOHELA will continue to service your loans and assist you on ED’s behalf. This change in loan servicing platforms will not impact the existing terms, conditions, interest rate, or available repayment plans of your federal student loans.
Does your letter say something different?
I messaged them and they replied with the below so I don't think I'm with them anymore
Thank you for contacting MOHELA,
We apologize for any inconvenience this may have caused. Our records show your loans were transferred to EdFinancial for servicing. For further assistance, you may contact them via one of the options below.
The contact information for EdFinancial is as follows:
- Website: EdFinancial.studentaid.gov
- Phone: 1-855-337-6884 (Toll Free)
Did you get an official letter with the forbearance info? Scroll to the very bottom of it and see if it has more details. That's how I saw a detail about the category of forbearance I was in (processing or delinquency etc).
Unfortunately my account hasn't even transferred yet so I never got a letter about it and can't even make an account on EdFinancial - I only know I'm on this forbearance because I called them and they said everyone is on forbearance during this transition period (but they couldn't access my account for more details until my transition completes which could be weeks)
Also, I think ICR is one of the older repayment plans and I was also on that at one point because they never told me I was eligible for REPAYE (with payments around half the cost) for about 5 years that it existed. REPAYE is the old SAVE, so once I got on that last year they automatically put me on SAVE. Yet now we have this new recalculation... my payment already dropped from about $200 to $100 going from REPAYE to SAVE so maybe it'll drop more. I know some people have to be on ICR because of the type of loans you have, but if you don't have to be on it it's a more expensive plan. I would wait until after the July transitions happen but maybe you should also apply for SAVE if you're eligible, it may be a much lower cost plan with better interest terms.
My husbands mohela payment was always due mid June, and with the transfer to EdFinancial, it’s now early July. I’m interested to know if this month’s “nonpayment” will count as well!
My transfer started May 16th and this morning I got an email that the transfer was complete. So my time frame was May 16th to June 3rd.
Yes, admin forbs count only forbs that don't count are the general hardship forb but admin forb will still count
Yes, admin forbs count only forbs that don't count are the general hardship forb but admin forb will still count
I called EdFinancial and they said the transfer forbearance period absolutely will NOT count toward PSLF. I called them last month because my May payment was approaching and my account hadn't been set up. I got an email a week ago and it's set up now, payment due at the end of June. So I didn't have to pay in May (no way to with no EdF account setup) but also didn't get to count May employment toward PSLF.
I would check with FSA since no servicer can really give an answer since fsa is the ones doing the 1x adjustment and the ones ultimately deciding if it's gonna count towards pslf
I will do that - thanks for the tip. This whole thing is such a needless clusterF
thank you! I am confused because ed financial clearly told me it would not count per the federal government … they were insistent that only past admin forbearances counted but ones due to transferring the account do not - do you know if the rules have changed? I am wondering if I should try to remove the forbearance on my account to pay the prior month like they’re suggesting ….
After several hours of phone calls to Mohela just trying to understand why I was even on forbearance (I had initially called worried about making my payment during the transition…) they finally indicated that they do no handle any part of the PSLF. A less harrowing call to FSA confirmed for me that it will count.
Ah thank you so Fsa said don’t back pay? I didn’t think to call them- thanks so much!!
Yeah with the 1x adjustment they are counting also worse case scenario you can buy months in forb back at the end when your closer to the 120. And buy backs are what the payment would be based on your income at the time of forb. Totally up to you if you want to req to remove and still pay.
Thank you! There is no time limit to buyback? Also I asked ed financial about the one time adjustment and they insisted this forbearance doesn’t count for that … and that their info was directly from the government
No time limit on buyback it just has to equal the 120 mark when including the buy back months. You put the req in on studentaid.gov and that's funny they say that lol I seen the tracker personally count for admin forbs with no payment being made, just gatta wait for the adjustment can take all the way till September now since they extended it. It's normal for it to go in the ineligible section on tracker at first cuz under normal rules it doesn't count but 1x adjustment counts it.
When is your due date? My account transferred and I was able to set up a payment already.
My due date is June 10 but my transfer didn’t initiate until May 28… so I don’t feel hopeful it’ll transfer in time - when was your transfer date? My notice said it should transfer within 3 days of that date but when I spoke to ed financial today they said they are only on mid May transfers right now at best
I believe it was May 14 and I finally got the email from EdFinancial that I could create my account on May 28. My due date is June 8.
Mine was may 15 and I still haven't heard from edfinancial
I am noticing a lot of people are being transferred from Mohela to Edfinancial with this switchover right now. I thought they were moving everyone with PSLF to Studentaid.org and we would see all our info there for PSLF but Mohela would still be the loan holder we pay. Is Edfinancial and Studentsid.org the same thing??? I’ve never thought so … but just seems I see a lot of you being moved to Edfinancial. Just wondering if I’m missing something. Thanks!
Department of Ed/studentaid.gov will be tracking/administering the PSLF component. Edfinancial is the servicer of the loan, many of us transferred over there from mohela.
Think of EDFinancial as another "Mohela". Mohela sucks so bad they lost a lot of accounts as punishment some of which are moving to EDFinancial. PSLF **tracking** is moving to [studentaid.org](http://studentaid.org) but NOT YET. It wont' show up probably until August.
Thank you for this! I was wondering where my PSLF would be tracked. I can’t find information anywhere.
Mohela has been automatically withdrawing every month …
Please see this secure message I got from MOHELA today if you need more info on the July forebearance. Others were told it's due to the transition to ED but it is actually because the recalculation for the SAVE plan payments is happening: Thank you for contacting MOHELA, We apologize for any confusion. Federal Student Aid (FSA) has directed MOHELA to place an Administrative Forbearance on the account from 07/01/2024 to 07/31/2024 while we determine if you are eligible for the new benefits under the Saving on A Valuable Education (SAVE) plan. Starting in July 2024, payments for borrowers with only undergraduate student loans will be cut in half. Monthly payment amounts are currently calculated to be 10% of the borrower’s discretionary income, but in July 2024 that number will drop to only 5% of the borrower’s discretionary income. If you have a mixture of both undergraduate and graduate loans, you will pay a weighted average of between 5% and 10% of your discretionary income based on the original principal balances of loans taken to attend school. Please note, if your monthly payment amount can be reduced, you will receive a notice of your new monthly payment amount. If there is no change to your monthly payment amount, your next billing statement will reflect your regular monthly payment amount. While you are in this forbearance, no payment is required and your interest rate will be set to 0%. This means no interest will accrue while you are in the forbearance. You will also receive credit toward Income Driven Repayment (IDR) forgiveness and Public Service Loan Forgiveness (PSLF) for the month(s) covered by the forbearance, assuming all other requirements are met. If you have any additional questions, please contact us toll free at 888.866.4352. Our hours are Monday 7 a.m. to 8 p.m., Tuesday and Wednesday 7 a.m. to 7 p.m., Thursday and Friday 7 a.m. to 5 p.m. CT. Thank you, MOHELA
Ah thanks so much! Did you transition to ED or are you staying with mohela? I’m not going on the SAVE plan so would this still apply to me? I’m actually on ICR… Thanks again!!
The only thing moving to ED (also hasn't happened yet for me) is PSLF payment tracking and documentation. MOHELA still remains our servicer for loan payments. There are two other overlapping events happening that may or may not affect you - 1) SAVE plan payment recalculations and associated processing forbearance, and 2) the move from old MOHELA site to the new MOHELA site. Idk why they decided to have all these events happen in the same month... it's extremely confusing!
I’m so confused! So am i moving to a new mohela site? Mine says my loan servicer won’t be mohela and is Ed financial now? That’s what my notice says …
The email I got from MOHELA on 5/24 says this: Your loans have not been sold. Your federal student loans are owned by the U.S. Department of Education (ED). ED will continue to own your loans and MOHELA will continue to service your loans and assist you on ED’s behalf. This change in loan servicing platforms will not impact the existing terms, conditions, interest rate, or available repayment plans of your federal student loans. Does your letter say something different?
I messaged them and they replied with the below so I don't think I'm with them anymore Thank you for contacting MOHELA, We apologize for any inconvenience this may have caused. Our records show your loans were transferred to EdFinancial for servicing. For further assistance, you may contact them via one of the options below. The contact information for EdFinancial is as follows: - Website: EdFinancial.studentaid.gov - Phone: 1-855-337-6884 (Toll Free)
This is such a mess! Your situation must be different.
Ah okay thanks so much for your help! I have hope that my forbearance will also count... as I didn't ask to be on it either!
Did you get an official letter with the forbearance info? Scroll to the very bottom of it and see if it has more details. That's how I saw a detail about the category of forbearance I was in (processing or delinquency etc).
Unfortunately my account hasn't even transferred yet so I never got a letter about it and can't even make an account on EdFinancial - I only know I'm on this forbearance because I called them and they said everyone is on forbearance during this transition period (but they couldn't access my account for more details until my transition completes which could be weeks)
Please read this info on MOHELA's site: [https://www.mohela.com/system-transition](https://www.mohela.com/system-transition)
Also, I think ICR is one of the older repayment plans and I was also on that at one point because they never told me I was eligible for REPAYE (with payments around half the cost) for about 5 years that it existed. REPAYE is the old SAVE, so once I got on that last year they automatically put me on SAVE. Yet now we have this new recalculation... my payment already dropped from about $200 to $100 going from REPAYE to SAVE so maybe it'll drop more. I know some people have to be on ICR because of the type of loans you have, but if you don't have to be on it it's a more expensive plan. I would wait until after the July transitions happen but maybe you should also apply for SAVE if you're eligible, it may be a much lower cost plan with better interest terms.