If you are a student in Colorado that has been impacted by the coronavirus pandemic, our office may be able to help.
In March 2020, Congress secured several options outlined below for those with student loan debt that help provide relief through September 30, 2020. During this period, a borrower will be able to:
- Pause payments for federal student loan borrowers who have Direct Loans and Federal Family Education Loan (FFEL), which means these borrowers will not be required to make any payments toward outstanding interest or principal balance.
- Suspend interest accrual for such loans so that these balances don’t accrue.
- Avoid forced collections such as garnishment of wages, tax refunds, & Social Security benefits.
- Halt negative credit reporting.
- Ensure a borrower continues to receive credit toward Public Service Loan Forgiveness, Income-Driven Repayment forgiveness, and loan rehabilitation.
Additionally, borrowers who made a loan payment on or after March 13th can now request a refund for their student loan payment. Borrowers should contact their student loan servicer to receive this refund.
For additional guidance on student loan relief options, please refer to the U.S. Department of Education website.