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.
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."
|#||Financial Product||Sub-Product||Complaint Issue||Complaint Count|
|1||Student loan||Non-federal student loan||Dealing with my lender or servicer||16|
|2||Student loan||Non-federal student loan||Repaying your loan||16|
|3||Student loan||Non-federal student loan||Can't repay my loan||12|
|4||Student loan||Non-federal student loan||Problems when you are unable to pay||5|
|5||Debt collection||Federal student loan||False statements or representation||4|
|6||Debt collection||Cont'd attempts collect debt not owed||2|
|7||Debt collection||Non-federal student loan||Communication tactics||2|
|8||Debt collection||Federal student loan||Improper contact or sharing of info||2|
|9||Debt collection||Non-federal student loan||Cont'd attempts collect debt not owed||2|
|10||Debt collection||Federal student loan||Disclosure verification of debt||1|
|#||Company Response||Response Count||Timely Response Count||Disputed Count|
|1||Closed with explanation||63||63 (100%)||15 (23.8%)|
|2||Closed with monetary relief||3||3 (100%)||1 (33.3%)|
|3||Closed||2||1 (50%)||1 (50%)|
|4||Closed with non-monetary relief||2||2 (100%)||0 (0%)|
|5||Untimely response||1||0 (0%)||0 (0%)|