Affects on Student Loans During COVID-19

How is the Department of Education handling Student Loan applications and repayments?

Temporary Student Loan Forbearance Options

Due to the COVID-19 outbreak, Federal Student Aid is offering temporary options of relief on student loan repayment. Feel free to contact your Loan Servicer to learn more.

Not sure who is your Loan Servicer? Login to your Federal Student Aid account for guidance.

Interest Rate Reductions

Some loans may be eligible for an interest reduction or waiver during the COVID-19 period. To find out if your loans are eligible, contact your loan servicer(s) for details.

Private Loan Forbearance Eligibility

Unfortunately, the forbearance announcement from the government does not include loans borrowers through private lenders. We encourage you to reach out to these lenders to see if alternative options are available to you during this national emergency.

For additional information, visit:

#MCUUniversity #FinancialLiteracy #COVID19 #Studentloans

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