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National Emergency Information Regarding Direct Loans

Due to the recent announcements to waive interest and relief from making payments for the Direct Loans that we service, our contact center is experiencing longer than normal wait times. Continue to check mohela.com for updates.

Interest Wavier - NO ACTION REQUIRED BY YOU

Effective March 13, 2020, your interest rate will be adjusted to 0% until further notice.
Payments made on or after March 13, 2020 will automatically be adjusted.
Payments will be applied first towards interest that accrued prior to March 13, 2020 and the remainder will be applied to the principal balance.
MOHELA will complete the interest waiver process by April 7th.

Relief from Making Payments

An administrative National Emergency forbearance is automatically applied to loans that are more than 30 days past due. No Action is required by you.
If your loans are less than 31 days past due, you can submit a request for the National Emergency forbearance by logging into mohela.com.

The National Emergency forbearance period is a qualifying event if you are working towards Public Service or Income Driven Repayment Loan Forgiveness. Legislation may change this. Please visit studentaid.gov for more information regarding forgiveness programs.

Making Payments
You can continue to make payments at any time.

Auto-Debit
If you are participating in Auto Debit and you need relief from making payments, you can suspend your Auto Debit. Please login to mohela.com to take this action.

Applying for or Renewing Income Driven Repayment Plans
Please visit studentaid.gov to apply or renew.

National Emergency Information for FFELP

Please log in to mohela.com to explore options and continue to check back for updates regarding relief.

MOHELA is committed to providing Laurel Road customers a first-rate customer experience.

News & Announcements

Coronavirus Situation

The health and well-being of our customers, staff, and our community are a top concern during the emerging Coronavirus (COVID-19) situation. MOHELA is committed to keeping our customers informed should any interruption in services occur. Customer service updates will be posted here.
President Trump recently announced that interest will be waived for all student loans held by Federal Government Agencies. Unfortunately, this does not apply to Laurel Road private educational loans because they are not held by a Federal Government Agency.
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. 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.
LIBOR Rate

For variable rate loans issued on the One Month LIBOR rate, the LIBOR is 1.62% effective March 1, 2020.
For variable rate loans issued on the Three Month LIBOR rate, the LIBOR is 1.95% effective January 1, 2020 - March 31, 2020.
You may identify which LIBOR is applicable to your loan on the Final Disclosure issued by Laurel Road.
With any change to the LIBOR rate, variable rate loans will re-amortize and a repayment schedule will be provided that will include your new monthly payment amount, interest rate (margin plus LIBOR), and the effective date of your new monthly payment amount.

Note: The repayment schedule interest rate does not reflect the Auto Pay discount as payments are not calculated with the discounted interest rate.

Account Notifications

Notifications are available before your bill is due, when your payment posts to your account and if your account becomes past due.

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We’re here to assist you when it's convenient for you. Schedule a call with a MOHELA Specialist.

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Repayment Assistance

For Laurel Road customers experiencing financial hardship, you may be eligible for a short term forbearance.

Learn More about repayment assistance

Forgiveness and Discharge

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).

Learn More about forgiveness and discharge