The MOHELA Rate Relief^sm program provides up to a 3.0%* interest rate reduction to students and parents who have their payments deducted directly from a checking or savings account when the loan goes into repayment. This is an extremely valuable option that can save you up to $2,000 for every $10,000 you borrow over the standard repayment term of ten years. This option is not provided by all student loan providers.

Examples:

If you are currently in repayment and would like to sign up for MOHELA Rate Relief^sm, click here to download an application.

* This 3.0% interest rate reduction is available for students, and parents of students, attending a Missouri institution if their loans are guaranteed through the Missouri Department of Higher Education (MDHE) and serviced at MOHELA. An interest rate reduction of 2% applies to loans at Missouri Institutions guaranteed by other guaranty agencies and serviced at MOHELA.

MOHELA reserves the right to modify, expand, or discontinue these programs at any time without notice. Rates are reviewed annually on July 1. Rate Relief^sm and Public Service Benefits are offered exclusively by MOHELA in conjunction with its Lender-Partners and are available to eligible borrowers in repayment whose loans are owned by MOHELA and serviced at our Chesterfield, MO servicing center. These benefits are not applicable to loans placed in Consolidation. These benefits do not lower the monthly payment, but rather reduce the amount of interest that accrues and results in more dollars being applied to the principal balance of the loan. MOHELA may discontinue offering these benefits to any borrower whose account becomes delinquent or in the event an auto-debit is terminated for any reason. Loans guaranteed by Missouri state guarantee agency may qualify for an increased level of Rate Relief^sm.