MOHELA Employee Benefits

Why choose MOHELA? Because we offer more than just benefits! MOHELA offers you the opportunity to work for a company that is known for its strength and character. At MOHELA, you'll have the distinction of working for a leader in the student loan industry. MOHELA also offers the satisfaction of knowing you have made a difference in people's lives. In support of our mission, you too can assist us in our ongoing effort to eliminate barriers to higher education.

MOHELA values the dedication of its employees and proudly provides full-time employees with a competitive and comprehensive benefits program.

MOHELA encourages a healthy balance between work and life by offering the following benefits:

Medical, Dental and Vision Insurance

MOHELA offers medical, dental and vision insurance to employees and their families. MOHELA contributes a majority of the costs for these insurance plans.

  • MOHELA offers a comprehensive medical plan with a health savings account option as well as prescription coverage for eligible employees and their dependents.
  • Dental Insurance offers preventative care, dental work, and orthodontia (for dependent children) at various coverage percentages.
  • Vision Coverage offers discounts on eye exams, glasses and contacts.
  • MOHELA and eligible employees share the cost of these insurance premiums. Premium payments may be taken on a pre-tax basis through payroll deductions.

Life and Disability Insurance

Term Life Insurance benefit is double the employee’s annual salary (maximum benefit - $500,000 for salaried employees; $300,000 for hourly employees). Accidental Death and Dismemberment insurance provides additional benefits for dismemberment disability or accidental death. Coverage is not available for dependents.

The above insurance plans are effective on the first day of the month following a 60-day waiting period.

Retirement Plans

MOHELA offers an exceptional retirement program with a voluntary 401(k) retirement saving plan, voluntary 457(b) plan retirement saving plan, and a company-funded pension plan to help employees reach their future financial goals and prepare for retirement.

401(k) Retirement Plan

A plan designed to help our employees build savings for the future.

  • Available to eligible staff upon completion of one year of service.
  • MOHELA matches dollar for dollar of the first 8% contributed.
  • Staff may contribute up to 50% of their annual salary.
  • Participation is made easy through payroll deductions.

457(b) Retirement Plan

A 457(b) plan is an employee only contribution non-qualified retirement plan that works very much like other retirement plans such as the 401(k).

  • Available to eligible staff on the first pay period in the month following enrollment.
  • Participation is made easy through payroll deductions which can be tax-deferred.

Pension Plan

Designed to provide a monthly income to participants who meet the plan's requirements for retirement.

  • All benefits are 100% funded by MOHELA - with no cost to employees.
  • Benefits are determined by the plan's benefit formula, based on years of service.

Time Off

  • Holidays - MOHELA generally observes 6 holidays per year.
  • Personal Holidays – 4 days are provided in lieu of federal holidays.
  • Paid Time Off (PTO)
  • Vacation

Tuition Assistance

After 3 months of employment, individual wishing to go back to school would qualify for tuition reimbursement up to $12, 000 per calendar year. After 1 year employees whose dependents are in school can qualify for reimbursement as well.

Employee Assistance Program (EAP)

MOHELA offers, free of charge, a professional counseling service for employees and their immediate family members. This voluntary benefit is completely confidential.

Location and Work Environment

  • MOHELA is located in West St. Louis County, in the Chesterfield Valley, with nearby shopping, restaurants, banks and county parks.
  • Our Columbia operating center is located in north Columbia, MO.
  • Our federal satellite office is located in Washington, DC
  • MOHELA offers a professional and pleasant work environment.