Warren, Senators Blast MOHELA for Abusing Borrowers with Potentially Illegal, Exploitative Terms of Use

Press Release

“Under its website’s Terms of Use, MOHELA disclaims its responsibility to provide borrowers with accurate information on their student loans, forces borrowers to waive their right to hold MOHELA accountable for harm created by MOHELA’s errors, and imposes troubling restrictions on borrowers’ ability to share basic information about their student loans.

“The exploitative nature of MOHELA’s Terms of Use is particularly insidious because borrowers do not have the choice to simply opt out. Declining the website’s Terms of Use would deprive a MOHELA borrower of critical financial information on their own loans.

“We are alarmed by the exploitative nature of these new Terms of Use — particularly given MOHELA’s poor record supporting borrowers — and are concerned that they could potentially violate federal law."

Source