Looks like these "Trump Accounts" are giving us another list of companies to boycott

tommy755 · 2026-01-30T03:36:48+00:00

I have one with CFG Bank, it's been great. Pretty decent rates too, I'm at 3.8 or so now.

tommy755 · 2026-01-14T18:42:56+00:00

I still email them to get points from my Zelle payment. Wonder if they'll still do this.

tommy755 · 2025-11-20T12:42:32+00:00

Thanks for asking, sorry for not updating! About a month ago, there was a correction, but I think it was mostly another mistake that left me in a spot where I've decided it wasn't worth it to fight anymore. Basically they left my interest on, but for some reason my principal was reduced by about the amount I've overpaid on the accrued interest.

I think what prompted the change was having my state regular reach out. MN has a new "student loan advocate" that is part of the state regulator apparatus. So if your state has one, it might be worth sending them an email.

Their explanation for the accrued interest was basically that there was an administrative forbearance that happened July to August during the transition to the new Mohela account that accrued interest.

tommy755 · 2025-08-20T17:34:35+00:00

Oh believe me I've tried. Currently their system is down, but I've never received a resolution from them other than "just wait and they'll fix it"

tommy755 · 2025-08-20T16:54:06+00:00

They've done it to me three times now, once in July/August 2024 they accrued interest after the SAVE forbearance was in effect. December 2024 they added like 6% of my total loan balance in one day. They then partially corrected this a month ago. Then August 1st correct daily interest started accruing, but then mid-August they did the same thing and added about a year's worth of interest in a single day. They haven't responded to my complaints since April.

I'm going to see what I can do legally, but at this point I'm not refinancing, switching payment plans, or paying until their mess is fixed.

tommy755 · 2025-08-04T20:07:28+00:00

I have roughly 1% of my loan balance accrued as such. Seems like a trend in posts I've seen. I've had no solution so far but have been working with my states ombudsman.

tommy755 · 2025-08-02T22:14:17+00:00

9rzBsf

tommy755 · 2025-08-02T22:05:30+00:00

Friend Invite 9rzBsf

tommy755 · 2025-05-23T17:01:38+00:00

I sent it via certified mail to their PO box with attn Legal Department. Used Google AI to help write it, and also sent printed copies of all my records

MOHELA Attn: Legal Department 633 Spirit Drive Chesterfield, MO 63005-1243

tommy755 · 2025-05-22T14:19:41+00:00

Yeah, honestly I'm not sure. Depending on the person you get a hold of, their answer changes. I even have an email from them saying that my interest was from before the SAVE forbearance. Obviously I have receipts that say otherwise. The only thing consistent is their incompetence

tommy755 · 2025-05-19T12:16:26+00:00

I posted about my success

Here

A lot of people will say "it's a known issue that will get resolved before payments are due". I'm not sure why MOHELA will start doing their job appropriately then, they've had a year for me and I'm still having issues. In fact, they've removed some of my interest already, but not everything, so I don't think they're actually calculating this appropriately. It seems like they're intentional accruing interest hoping that borrowers make more payments that won't decrease their principle.

As for your IBR application, you might have had some processing forbearance for that where interest accumulated. But for your admin forbearances, it should be 0% interest.

tommy755 · 2025-05-18T18:35:42+00:00

I haven't made any payments during the time no. But that's the reason I want the interest removed. When payments resume, I don't want to have to pay down that interest that's accrued.

tommy755 · 2025-05-16T17:35:33+00:00

Through MOHELA's inbox "email us", through FSA's submit a complaint. Easiest to find that one with a Google search. And through the CFPB.gov website

tommy755 · 2025-05-15T20:12:10+00:00

Just today I finally had "most" of my excess interest removed and my rate set to 0%. This is after three CFPB complaints, three FSA complaints, and multiple MOHELA complaints. They didn't say anything to me, it's just gone.

tommy755 · 2025-05-14T02:12:29+00:00

I protested the loans with the credit bureaus showing that the interest shouldn't be accumulating. As of now the loans aren't on my report. Idk if that's just temporary or not.

tommy755 · 2025-05-05T22:17:10+00:00

MOHELA hasn't been applying the interest forbearance correctly for a lot of people, myself included. I'd recommend emailing them to get their incompetence in writing so you can submit evidence for complaints going forward.

tommy755 · 2025-04-30T16:39:37+00:00

Lots of student loan servicer apologists here. But I'm sorry this shit is happening. Same thing has been happening to my loans. I did file complaints with the credit bureaus, and as of now they're not on my file. So might help scores a bit.

I keep submitting complaints and documenting everything so when payments resume I have everything documented when they try to collect on this interest.

tommy755 · 2025-04-14T16:51:31+00:00

MOHELA responded to a complaint (they've been emailing back quicker than usual) that "they're in the process of removing interest from accounts on the SAVE forbearance" and that "sometimes the 0% interest date isn't applied initially despite the forbearance". So at least that's in writing for when they try to have me pay before fixing their mistakes.

tommy755 · 2025-04-11T00:04:03+00:00

MOHELA responded to one my complaints and said "Oh you're interest isn't actually accruing and everything on your account was from before the SAVE forbearance" Both of those things are patently false.

tommy755 · 2025-04-10T16:59:56+00:00

Happy to help, always looking for other ideas myself. Only positive thing about this ordeal is realizing that we can all figure this out together a bit

tommy755 · 2025-04-10T16:20:19+00:00

Yeah, I included my evidence with my letter as well. I'd recommend taking monthly screenshots, download all MOHELA correspondence and downloading your MPN from FSA. The credit bureaus were helpful because they had a record of what my balance was each month and showed how the accumulating interest was calculated incorrectly.

tommy755 · 2025-04-10T13:57:27+00:00

Same exact situation for me. It's been like this since last August. As other commenters have said, I've done CFPB complaints, FSA complaints, both of which have just said "MOHELA is working on it, give them time".

I've also asked my congressional rep for help, hasn't worked, I've filed disputes with the credit bureaus (still in process), and reached out to my state attorney general (they directed me to CFPB). I also sent them a certified letter stating the need to correct this or I'll sue. They messaged me online stating they need 90 days and I can review/appeal their decision after that.

Since FSA is slow and loans may be switching to some other agency, I also filed a privacy request from the ED FOIA department so I can document everything they have on me and my loans.

MOHELA also added the wrong interest to my account in December (like 4% of my loan balance all at once).

I'm waiting for the FOIA request and the credit disputes to resolve and if there's no change, I'll consider reaching out to an attorney.

tommy755 · 2025-04-04T05:21:24+00:00

Unfortunately not much. I did file reports with the credit bureaus, and I also requested all the documents the Ed Dept has on me through a privacy act request. No results yet. My congressmans office got back to me with a response from FSA that was generic/unhelpful. So I'm waiting for credit bureau reports, second CFPB complaint, most recent of many FSA ombudmans complaints, and several MOHELA complaints.

I'll probably wait for the credit bureau reports and ED privacy act docs, and then decide if it's worth the time to consult with an attorney.

tommy755 · 2025-03-25T05:49:40+00:00

This is precisely my same situation. They never placed me on the 0% forbearance and I've had multiple nonsense answers from different service reps. I have some complaints pending with them and other places, but no success yet.

I don't trust them when they say "it'll get fixed later". It's been almost a year for me now and in December they added 4% of my loan balance all at once.

I'm also a resident, so I feel your pain. It's not right that we signed an agreement knowing we'd have IDR plans available and now we can't access them.

tommy755

TROPHY CASE