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Benzinga
Benzinga
Business
Shomik Sen Bhattacharjee

Reapply Or Wait? Servicer MOHELA Says New IDR Applications May Move Faster — Here's What You Need To Know

MOHELA Education Department
Income,Driven,Repayment,Idr,Plan,Near,Calculator,And,Notepads.

The Education Department's loan servicer, MOHELA, is urging federal student-loan holders who filed for an income-driven repayment plan before April 27 to submit a new application, saying the do-over "may expedite processing."

What Happened: Spotted by Forbes first, the fresh guidance, posted on Monday after an earlier, muddled alert, adds that the original request will be canceled once the new form is filed. MOHELA recommends using the Internal Revenue Service data-retrieval tool on StudentAid.gov, restored in late March after a shutdown tied to litigation over the SAVE plan.

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