Welcome to MOHELA!
SouthEast Bank Education Loan Finance Loans Serviced by MOHELA
Your new Education Loan Finance 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.
Our Customer Promise
MOHELA is committed to giving our customers a first-rate experience. To aid in repaying your student loans, we promise to listen, offer
customized solutions to meet your specific needs and provide superior guidance as your dedicated resource expert.
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 Education Loan Finance 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.
For variable rate loans applied for on or after 7:00pm EST, January 7, 2022, the variable interest rate will be based on a publicly available
index, the Prime Rate of Interest as published in the Money Market section of the Wall Street Journal.
If you have an existing variable rate loan that uses the London Interbank Offered Rate (LIBOR) as the benchmark rate index, your loan will
continue to use LIBOR as the benchmark rate index. Your rate will not increase more than once quarterly. ELFI will notify borrowers with existing
variable rate loans originated prior to 7:00pm EST, January 7, 2022, of the expected change from LIBOR to the Prime Rate in the future.
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:
P.O. Box 1022
Chesterfield, MO 63006-1022
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!