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MOHELA Lightens Debt Load for Over 9,300 Student Borrowers
Helps Students Succeed by Offering Pell Grant Recipients Loan Forgiveness
| Quelle: MOHELA - Higher Education Loan Authority of the State of Missouri
CHESTERFIELD, MO -- (MARKET WIRE) -- April 26, 2007 -- Five hundred dollars. Over 9,300 freshmen
Pell Grant recipients have just learned that this amount will be removed
from their student loan balances, thanks to the most recent loan
forgiveness program announced today by the Higher Education Loan Authority
of the State of Missouri (MOHELA.) For some students, $500 will cover part
of their tuition costs or, for others, a semester of books or other
college-related expenses. This most recent borrower benefit will total
more than $4.6 million in loan forgiveness.
"We are dedicated to helping make education affordable for students because
we want them to succeed," said Dr. John Smith, Chair of the MOHELA Board.
"We hope that this loan forgiveness will encourage and support students
with limited resources in continuing beyond their freshman year and
completing their college education."
Over the past two decades, MOHELA has helped more than 500,000 student
borrowers and their families achieve their educational goals. This most
recent loan forgiveness program, on top of $28 million previously forgiven,
provides another benefit designed to help make college accessible and
affordable for students.
"Our long-standing tradition of helping students continues as we are once
again providing loan forgiveness to high-need student borrowers," said
Raymond H. Bayer, Jr., MOHELA Executive Director and CEO. "This
organization is all about access and affordability -- now and into the
future."
MOHELA is one of the largest participants in the nonprofit sector of the
student loan secondary market industry in America, and is a leading holder
and servicer of student loans with more than $5.5 billion in assets, and
loan purchase activity in excess of $1.5 billion per year. MOHELA advances
its benevolent mission of eliminating barriers for students so they can
access higher education through local, regional, and national partnerships
with a variety of educational and financial institutions.