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As of March 20, the Department of Education has enacted 0% interest rates for federally-held student loans for at least the next 60 days. The new interest rate will remain in effect until the Department of Education issues an end date and is available for loans in any status (currently enrolled in school, in repayment, etc.).

DoE also issued guidance on the emergency forbearance policy which will allow borrowers to postpone payments for at least two months. Also, if your income has changed due to COVID-19, you might be eligible for a lower repayment amount. Additional information on student loan relief can be found here.

We will update this post with updates as they become available. 

Check out our COVID-19 Resources page for more information.

Emily Martin

Executive Director of Marketing

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