Welcome to MOHELA!

Your new ELFI Loan is now being serviced by MOHELA on behalf of SouthEast Bank. With over 40 years in the student loan servicing industry, we have the expertise to help manage your loans.

We offer tools and resources along with dedicated Account Specialists to answer your questions and help you navigate through your loan's life cycle to successfully repay your loans.

Servicing Information to Know

MOHELA is dedicated to providing full access to all resources to ensure your servicing experience is exceptional. We encourage you to set up a web account for 24-hour access to account information and management. To receive correspondence quickly and easily, you can sign up for Paperless communication. When a document or bill has been generated, an email will be sent advising to log in to your web account. You can view your documents via “My Messages.”

Communications you should expect to receive from MOHELA for your ELFI loan servicing include, but are not limited to:

• Annual Privacy Notice - A clear and conspicuous notice to our customers that accurately reflects our privacy policies and practices, distributed annually.
• Repayment Schedule - A schedule informing you of the monthly payment amount, remaining number of months in repayment, interest rate for new loans and any time your payment amount changes, thereafter.
• Monthly Billing Statement - If not enrolled in Auto Pay, a monthly statement will be sent via mail or Paperless communication. The Billing Statement includes your last payment date and amount, past due amount, if applicable, current amount due, total amount due, and late fee amount if paid after due date.
• Returned Payment Notification - Provides the date of payment and amount of payment that was returned. This is to allow a replacement payment to be made to avoid a past due status.

If you have an existing variable rate loan that uses the London Interbank Offered Rate (LIBOR) as the benchmark rate index, your loan will use TERM SOFR as the benchmark rate index after June 30, 2023. LIBOR will no longer be a suitable index therefore Congress has identified a new rate benchmark index that is comparable to the previous one.

Please consult your promissory note to confirm which index your loan rate is based. If your interest rate changes, your monthly payment amount will be recalculated. Interest accrues daily on your outstanding principal balance from date of disbursement until the loan is Paid in Full. Payments applied will go to late fees, if applicable, interest due, then principal balance.

MOHELA offers several options to make monthly payments. We provide 24 hour web access to schedule a one-time payment at your convenience. Another 24 hour access option is to pay by phone through our automated system at 855.282.4269 (Toll Free). Payments are accepted via mail but may take up to 7 business days to post to your account. To pay by mail, please remit to:

MOHELA provides a monthly loan status update to the four major Consumer Reporting Agencies. Therefore, it is important to keep your contact information up to date so that we may notify you promptly if your account is past due.

To ensure the best possible experience, MOHELA offers the option to schedule a call back to discuss your account inquiries at a time that is convenient for you. Schedule a Call Today!

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