MOHELA vs myStudentWallet
Price, ratings, monetisation and update history for both apps, side by side — with what reviewers say about each.
MOHELA
Manage your student loans with ease. Schedule payments, view your loan history, upload important documents, and access tax information securely. Get support and repayment options for your student loans.
- Schedule and manage payments
- View payment history
- Upload forms securely
- Access tax information
- Secure account access
- Messaging capabilities
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Manage your MOHELA student loans and schedule payments from your mobile phone! MOHELA is dedicated to providing world-class customer service for the students whose loans we manage. As your knowledgeable and approachable go-to resource for account information and repayment options, we provide the tools to help you successfully repay your student loans. MOHELA is here to assist! Headquartered in St. Louis, Missouri, our primary focus is student loan servicing. This app provides MOHELA’s CASHLoans and FFELP loan borrowers with quick and secure account access, payment scheduling/history, form upload capability, tax information, and messaging capabilities.
myStudentWallet
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Take control of your day-to-day money management with our web and mobile apps for your myFSApay payment vehicle account. Conveniently and securely check your balances, pay bills, load checks, and more, all with the tap of your finger. FEATURES: ● No enrollment or monthly fees* ● Direct Deposit ● Load Checks ● Real Time Cash Reloads ● External Transfers ● Bill Pay ● Spending Insights ● Mail-a-Check ● Alerts ● ATM Locator ● Check Your Balance ● 24/7 Lost or Stolen Customer Support SECURITY FEATURES: ● Your mobile banking transactions are fully protected with SSL encryption ● Mobile banking follows the same security protocols as online banking ● Login requires a secure password and security questions ● Automatic timeouts occur after a period of inactivity REQUIREMENTS: ● You must be a current student enrolled in a myFSApay pilot school ● You must be eligible for Federal Student Aid ● You must have completed a FAFSA ● Subject to ID Verification ACCOUNT SIGNUP: • To sign up please download the app and follow the steps for enrollment • Web enrollment can also be accessed at www.TheScholarCard.myFSApay.gov The myFSApay payment vehicle account is issued by Sunrise Banks N.A., Member FDIC, pursuant to a license from Mastercard International Incorporated. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. Use of this card constitutes acceptance of the terms and conditions stated in the Cardholder Agreement. The myFSApay payment vehicle account may be used everywhere Debit Mastercard is accepted. *Other fees, terms and conditions apply, see cardholder agreement.
Screenshots
Verdict
The clearest difference is update cadence: myStudentWallet at every 3 weeks against MOHELA's every 2 months. myStudentWallet also leads on iOS requirement (11.0 vs 16.4). On price, ads, in-app purchases and device support there is nothing between them.
Scored on Price · Rating · Positive reviews · Number of ratings · Update frequency · Ads · In-app purchases · Monetization · Best chart rank · Devices · Requires iOS
Both are free to download. Neither carries in-app purchases, so what you see is what you pay.
MOHELA ships an update every 2 months, myStudentWallet every 3 weeks. The most recent releases landed on November 4, 2026 and October 29, 2026 respectively.
| Parameter | MOHELA | myStudentWallet |
|---|---|---|
| Price | Free | Free |
| Rating | 4.6 (47K ratings) — better | — |
| Positive reviews | 26.1% of reviews | — |
| Number of ratings | 47K — better | — |
| Update frequency | Every 2 months | Every 3 weeks — better |
| Ads | No | No |
| In-app purchases | No | No |
| Monetization | Free | — |
| Devices | iPhone, iPad | iPhone, iPod |
| Requires iOS | 16.4 | 11.0 — better |
| Further details — not scored | ||
| Size | 52 MB | 160 MB |
| Age rating | 4+ | 4+ |
| Developer | Missouri Higher Education Loan Authority | Urban FT, Inc. |
Bugs and requests
MOHELA
Reported bugs
4 issues- App crashes and freezes frequently
- Saved bank account information being deleted
- Face ID/biometric login not working consistently
- Confusing error messages and navigation
Requested features
4 requests- Ability to apply payments directly to principal
- Option to view payment history and loan details within the app
- Improved notification system to keep users informed
- Integration of website features into the mobile app
myStudentWallet
Not enough reviews yet to summarise bugs or requests.
In-app purchases
MOHELA
No in-app purchases
myStudentWallet
No in-app purchases
Questions
Is MOHELA free?
Is myStudentWallet free?
Do MOHELA or myStudentWallet have ads?
Which is updated more often, MOHELA or myStudentWallet?
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