The Department licenses student loan servicers operating in California. As part of this program, the DFPI accepts complaints from borrowers and enforces violations of the Student Loan Servicing Act.
If you have a complaint about problems with your federal student loans or your loan servicer, you can file a complaint online on the Department of Education Federal Student Aid complaint page. The page will ask you if you want to log in to your FSA account.
FSA is responsible for managing the student financial assistance programs authorized under Title IV of the Higher Education Act of 1965. These programs provide grant, work-study, and loan funds to students attending college or career school.
Submit a Complaint by contacting the following: U.S. Department of Education, Office of Federal Student Aid (FSA): studentaid.gov.
The California Department of Financial Protection and Innovation protects consumers, regulates financial services, and fosters responsible innovation. The DFPI protects consumers by establishing and enforcing financial regulations that promote transparency and accountability.
MOHELA Ombudsman
The MOHELA Ombudsman's goal is to help borrowers successfully repay their student loans, resolve their account dispute or concerns in a timely manner and to provide them with excellent customer service.
Consumers can submit complaints about financial products or services by visiting the CFPB's website or by calling (855) 411-CFPB (2372). Employees who they believe their company has violated federal consumer financial protection laws are encouraged to send information about what they know to whistleblower@cfpb.gov.
Federal student loans are owned by the U.S. Department of Education while private student loans are owned by the financial institution that granted them. Learn more how who owns student loans and how to find out who owns your student loan.
Immediately contact your loan servicer. You may be able to change your repayment plan to one that is based on your income.
Can Borrowers Sue a Student Loan Servicer? In general, borrowers can sue a student loan servicer. If there is a class-action lawsuit against a provider or school, borrowers automatically become a part of the class-action lawsuit but are not directly suing any party.
You were either enrolled in the SAVE Plan or about to have your payments lowered under it. A federal court recently blocked the implementation of the SAVE Plan. To comply with the court order and prevent incorrect billing, the Education Department directed MOHELA to place affected borrowers into forbearance.
Student loan disputes
Talk to your loan servicer. Learn how to find out who your loan servicer is if you are not sure. If you still need help, contact the Federal Student Aid Ombudsman Group.
The CFPB is one of the federal agencies responsible for overseeing private and federal student loan products and servicers. You can submit a complaint through CFPB's online complaint system or by calling 855-411-2372. U.S. Department of Education (ED).
For more than ten years, the CFPB has supervised the student loan market for risks to consumers, and has taken multiple enforcement actions for shoddy student loan servicing practices.
The biggest loan servicers are MOHELA, Aidvantage and Nelnet. Your loan servicer might have changed during the payment pause. Find out who your loan servicer is by logging in to your student loan account.
The following are loan servicers for loans that the U.S Department of Education (ED) owns. To find out who your loan servicer is, visit your account dashboard and scroll down to the “My Loan Servicers” section, or. call the Federal Student Aid Information Center (FSAIC) at 1-800-433-3243.
Your interest charges will be added to the amount you owe, causing your loan to grow over time. This can occur if you are in a deferment for an unsubsidized loan or if you have an income-based repayment (IBR) plan and your payments are not large enough to cover the monthly accruing interest.
Whoever gave you the money for your education (the lender) is usually who owns your student loan. This is either the federal government or a private company. But your loan servicer is who handles the loan repayment—and who dishes out the consequences if you don't pay up.
Consistent with applicable law, we securely share complaints with other state and federal agencies to, among other things, facilitate: supervision activities, enforcement activities, and. monitor the market for consumer financial products and services.
The Ombudsman Group is dedicated to helping resolve complaints related to the federal student aid programs, including Direct Loans, Federal Family Education Loan (FFEL) Program loans, Perkins Loans, and grant programs.
The FTC's Bureau of Consumer Protection stops unfair, deceptive and fraudulent business practices by collecting reports from consumers and conducting investigations, suing companies and people that break the law, developing rules to maintain a fair marketplace, and educating consumers and businesses about their rights ...
Consumer Financial Protection Bureau (CFPB)
You can submit a complaint regarding MOHELA's handling of your loan through the CFPB website. From July 1, 2022, through September 30, 2023, CFPB received nearly 3,000 complaints about MOHELA.
Contact the Student Loan Empowerment Network studentloanhelp.dfpi.ca.gov or (888) 774-2227. Also, California Student Loan Servicing Ombudsperson Celina Damian and our student borrower support team invite you to get in touch. We answer questions, provide resources, and address complaints.
MOHELA was created in 1981 by the Missouri legislature “to assure that all eligible postsecondary education students have access to student loans” and is considered a “quasi-governmental entity,” as the law empowers MOHELA to act independently of the State.