MOHELA

MOHELA, officially the Missouri Higher Education Loan Authority, was established in 1981 by the Missouri General Assembly. Initially structured as a quasi-governmental entity, its primary objective was to facilitate access to higher education for Missouri students by managing loans guaranteed under the Federal Family Education Loan Program. This foundational role set the stage for its future expansion and evolution within the student finance sector, adapting to federal policy changes and market demands.

Following the abolition of the Federal Family Education Loan Program in 2010, MOHELA strategically broadened its operational mandate. It now serves as a principal servicer for the U.S. Department of Education, managing an extensive portfolio of over 7.5 million federal student loan borrower accounts, alongside approximately 330,000 private student loan accounts. A significant recent development is its role, since July 2022, as the sole servicer for the Public Service Loan Forgiveness program, managing loan forgiveness applications for eligible public servants, including teachers and social workers. Meet MOHELA's team to understand the personnel driving these critical operations and their commitment to public service.

Headquartered in Chesterfield, Missouri, MOHELA operates across three locations, demonstrating a significant geographic footprint within the state and beyond. The organization generates $377.2M in revenue and employs a workforce ranging from 1,000-5,000 employees. Functioning within the Government industry, MOHELA provides essential student loan servicing, management, and financial solutions, playing a vital role in the higher education ecosystem.