SOURCE: MOHELA - Higher Education Loan Authority of the State of Missouri

October 17, 2008 18:31 ET

MOHELA Announces $262.5 Million Bond Issuance

CHESTERFIELD, MO--(Marketwire - October 17, 2008) - The Higher Education Loan Authority of the State of Missouri (MOHELA) closed this week on the issuance of Series 2008A-1 and Series 2008A-2 Bond. This $262.5 million bond issuance will further MOHELA's ability to meet the ongoing needs of students and families in the State of Missouri who utilize Family Federal Education Loan Program (FFELP) loans to fulfill their higher education goals.

This bond will help provide the necessary capital to allow MOHELA to continue to provide funding to students attending any of the 154 institutions of higher education in the State of Missouri. Access to this funding was made possible through our continued partnership with Bank of America Securities. MOHELA currently employs over 225 student loan professionals committed to providing outstanding customer service for the borrowers and educational institutions we serve. "Over half a million borrowers trust and depend on MOHELA to manage their accounts properly," noted Raymond H. Bayer, Jr., MOHELA's Executive Director and Chief Executive Officer. Bayer also noted, "This additional funding will help to ensure that MOHELA continues with our Missouri focus."

MOHELA is one of the largest student loan organizations participating in the nonprofit secondary market sector in America and is a leading holder and servicer of student loans with more than $5 billion in assets. MOHELA advances its benevolent mission of providing lower-cost student loans and other financial and educational resources to benefit a diverse group of students so they can access higher education and to enable them to successfully complete postsecondary educational programs through local, regional and national partnerships with a variety of educational and financial institutions.

Contact Information

  • For additional information, contact:
    Will Shaffner
    Office 636-532-0600