MOHELA

Report Card
B-
Overall Grade
C+
Debt Collection Grade
C
Student Loans Grade
MOHELA is rated overall in the top 53 percentile (out of 100) based on 51 customer complaints.

Statistics

Complaints Currently In-Progress
Complaints per $100K of Deposits
Complaints Resolved in a Timely Manner96.1%
Resolutions Disputed by Customer13.7%
Average Time Until ResolutionUnknown

Financial Report

Owner CorporationNot Listed
EstablishedNot Listed
FDIC InsuredNot Insured
FDIC Certificate #
Number of BranchesUnknown
Total AssetsUnknown
Total DepositsUnknown
Total EquityUnknown
Quartarly Net IncomeUnknown

Contact Information

Corporate Headquarters
Not Listed
Website
Not Listed
Data Summary
MOHELA logo

Grade Summary

Overall, MOHELA received a grade of "B-" based on how quickly the company responded to complaints, how often customers disputed their final resolution, and how many complaints were recieved per customer.

Grades are also broken down by the financial products offered be each institution. MOHELA is rated "C+" in Debt Collection, and "C" in Student Loans. Click on any of the financial products to see how MOHELA compares.

Overview

MOHELA has received 51 consumer complaints since March, 2012 – more than 87% of other banks.

Of those complaints, 96.1% of complaints were resolved in a timely manner. The CFPB allows 60 days to resolve complaints before considering them 'untimely.' MOHELA meets the 60-day response deadline less frequently than 65.1% of other banks.

After companies respond to complaints, customers may dispute the response indicating that the issue was not resolved adequately. 13.7% of customers dispute MOHELA's response to complaints — better than 71.2% of other companies.

Most of MOHELA's customers complain about student loans with the primary issue being "dealing with my lender or servicer."

Complaints by Product
Complaints by State
Complaints Against MOHELA
#Financial ProductSub-ProductComplaint IssueComplaint Count
1Student loanNon-federal student loanDealing with my lender or servicer16
2Student loanNon-federal student loanRepaying your loan16
3Student loanNon-federal student loanCan't repay my loan12
4Student loanNon-federal student loanProblems when you are unable to pay5
5Debt collectionFederal student loanFalse statements or representation4
6Debt collectionCont'd attempts collect debt not owed2
7Debt collectionNon-federal student loanCommunication tactics2
8Debt collectionFederal student loanImproper contact or sharing of info2
9Debt collectionNon-federal student loanCont'd attempts collect debt not owed2
10Debt collectionFederal student loanDisclosure verification of debt1
Responses From MOHELA
#Company ResponseResponse CountTimely Response CountDisputed Count
1Closed with explanation6363 (100%)15 (23.8%)
2Closed with monetary relief33 (100%)1 (33.3%)
3Closed21 (50%)1 (50%)
4Closed with non-monetary relief22 (100%)0 (0%)
5Untimely response10 (0%)0 (0%)
Complaints over the Past Year