The Student Loan Company That Could Topple Biden’s Debt Relief Plan
MOHELA could ruin millions' chance at college loan forgiveness
The fate of President Joe Biden's multibillion-dollar student debt relief plan could hinge on an obscure financial services company just outside of St. Louis.
The Missouri Higher Education Loan Authority, a state-created loan company known as MOHELA, is at the center of a legal challenge from six Republican states trying to stop Biden's plan to forgive student loan debt for more than 40 million Americans.
The lawsuit, which is set to go before the Supreme Court next year, will decide the future of one of Biden’s biggest and most contentious domestic policy programs. But it's also shining a spotlight on MOHELA, which has quietly emerged as one of the nation's largest student loan servicers while deepening its ties to the Education Department over the past decade.
Please select this link to read the complete article from POLITICO.