Chesterfield-based student loan authority plans to add 365 jobs

The Missouri Higher Education Loan Authority (MOHELA) said Tuesday it will add 365 jobs in St. Louis and Columbia over the next five months.

The Chesterfield-based student loan servicing organization, which services more than 1.75 million borrowers with a portfolio of more than $39 billion, said the positions are for counselors and loan processors. Those pay $15 per hour, according to an online job listing.

MOHELA currently employs about 530 people, according to its website, so the new hires would boost jobs at the state-created entity by nearly 70 percent.

The loan authority was created by Missouri’s General Assembly in 1981 as a nonprofit lender and servicer of student loans.

Read more: St. Louis Business Journal, St. Louis Post-Dispatch

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