MOHELA to Offer Loans for Magic: The Gathering Cards – A Developing Story
Chesterfield, MO – Recent reports indicate that the Missouri Higher Education Loan Authority (MOHELA), a major federal student aid servicer, was considering a novel lending program targeting the collectible card game market, specifically Magic: The Gathering. The plan, as outlined in a leaked internal memo, proposed offering microloans to consumers to finance the purchase of card packs from the upcoming Secrets of Strixhaven set, with repayment potentially linked to the value of rare cards pulled from those packs.
The Proposed Lending Program
According to the leaked memo, MOHELA explored the possibility of entering the secondary card market by providing loans for Magic: The Gathering card packs. The innovative, and potentially controversial, aspect of the program involved the potential for borrowers to repay their loans with valuable cards obtained from the packs. MOHELA reportedly intended to grade these cards through Beckett Grading Services and then sell them to recoup the loan investment, potentially generating a profit.
Industry Reaction and Concerns
The proposal sparked immediate reaction within the Magic: The Gathering community. Online forums, such as Reddit’s r/MTG, saw discussions ranging from excitement about the prospect of “free” card pulls to concerns about predatory lending practices and market manipulation. Some users expressed enthusiasm, viewing the program as a way to access cards without immediate financial outlay, while others criticized it as a form of scalping facilitated by a major financial institution.
MOHELA’s Response and Current Status
As of March 17, 2026, MOHELA has not issued an official public statement confirming or denying the program. The leaked memo remains the primary source of information. MOHELA’s contact information is as follows:
For account or login issues, the FPS Help Desk can be reached at 1-800-330-5947 or support@fps.ed.gov. Their operating hours are Monday-Friday, 7 a.m. To 7 p.m. Central time.
About MOHELA
MOHELA, established in August 1981, is a loan servicing company based in Chesterfield, Missouri, dedicated to providing customer support for the Department of Education’s school and borrower accounts. The company employs over 400 professionals.
Key Contacts at MOHELA
- Paul Voigt, Federal Reporting Officer: 636.733.3765 or 636.733.3700 x3465, paulv@mohela.com
- Jennifer Farmer, Director of Federal Contracts: 636.733.3884 or 636.733.3700 x3484, farmerj@mohela.com
The Missouri Higher Education Loan Authority
The Missouri Higher Education Loan Authority’s Board of Directors is responsible for establishing organizational goals and policies.
Disclaimer: This article is based on a leaked memo and publicly available information as of March 17, 2026. The status of the proposed lending program is currently unconfirmed.