In honor of Independence Day our offices are closed Friday, Jul 4th. Payments may take up to 5 days to post to your MOHELA account. This delay will not change the effective date of the payment. We appreciate your patience.
Now you can keep tabs on your student loan account right from your phone. View your account summary, see recent and scheduled payments + more.
Interest Paid for the 2024 tax reporting year will be available by 1/31/2025.
Log in to your online account to access the amount of interest paid on your student loans.
Customers who paid $600 or more will be provided a 1098e via your preferred delivery method - paperless or US mail.
All customers who made payments toward interest will get an email notification when your interest paid amount is available online!
If you have questions about how your student loan interest paid amount may affect your taxes, please contact your tax advisor. For more information on your student loan tax information, visit our Tax FAQ.
Public Service Loan Forgiveness is not available on private student loans.
Please note, private student loans are not eligible for a refund of payments made during the Covid-19 Forbearance.
The SOFR rate for July 2025 is 4.32%. The Refinitiv rate for July 2025 is 4.44%. With any change to the rate index, variable rate loans will re-amortize and a repayment schedule will be provided that will include your new monthly payment amount, interest rate (margin plus SOFR), and the effective date of your new monthly payment amount.
For SoFi customers experiencing financial hardship, SoFi may offer Repayment Options to temporarily postpone your monthly payment.