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☆ A mom got $192,000 in student debt wiped out last year. But her servicer just told her the relief was a mistake — and she has to figure out how to afford monthly payments again.
▼ + stars: | 2024-03-09 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

Anne, 46, received notice in June that her loans were forgiven thanks to her years of public service. But in late February, MOHELA told her the relief was an error, and her balance was reinstated. AdvertisementAnne breathed a sigh of relief in June when she received the notice she waited years for: her nearly $200,000 student-loan balance was forgiven. I really can't believe this is true," Anne told Business Insider. BI previously spoke to another borrower, Okwara, who MOHELA told that the loan forgiveness he received last year was a mistake.

Persons: Anne, MOHELA, —, She's, Anne isn't, I'm, Okwara, she's, it'll, I've Organizations: Service, Public, Business, PSLF, BI, Education Department

☆ A student-loan borrower who received debt cancellation a year ago was just told it was a mistake — and now his $93,000 balance is reinstated
▼ + stars: | 2024-03-01 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

Okwara, 36, received a letter from MOHELA in May 2023 confirming his loans were forgiven. But on February 29, MOHELA sent a letter telling him the relief was a mistake, and his balance was reinstated. Okwara made those investments because he no longer had to worry about his student loans — or so he thought. On February 29, he received a letter that confirmed exactly what he feared: the forgiveness was a mistake, and his $93,000 balance had been reinstated in full. Did you get a notice that your student loans were reinstated after receiving forgiveness?

Persons: MOHELA, —, Okwara —, Okwara Organizations: Service, Business, PSLF, Public, BI, An Education Department, Education Department Locations: MOHELA

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