COVID-19 – Coronavirus Update from Student Connections
We are committed to keeping student loan borrowers and schools updated with changes to the student loan program resulting from the Coronavirus pandemic.
Student Connections is available to provide loan counseling services to any borrower with questions. We can be reached at (866) 311-9450, Monday through Friday, 9:00 a.m. to 7:00 p.m. ET. We also can be reached via email at firstname.lastname@example.org.
Here's what we know as of March 20, 2020:
- The Department of Education is waiving interest charges for ALL federal student loan borrowers for 60 days beginning March 13, 2020. They might extend that period but for now your interest rate will be 0% until May 13, 2020.
- ED is also giving borrowers the option to suspend making loan payments for at least 60 days. We will let you know if they decide to extend that period. You can continue to make payments but you are not required to do so. You are being charged a 0% interest rate so it will not hurt you to stop making payments.
- Any borrower who is 31 days past due or more will automatically be put into an administrative forbearance. This means that your loan will be brought current and you will not have to make payments for at least the next 60 days. You will also be charged a 0% interest rate for at least the next 60 days.
- If you are not delinquent and wish to request a forbearance you must contact your servicer. You also can contact Student Connections directly. We can help you work with the servicer on this request.
Student Connections is here to help student loan borrowers answer their questions and process loan requests in cooperation with their servicer.
We will continue to post updates as we receive them.
For more information from the Department of Education about COVID-19 and student loan payment relief, visit https://studentaid.gov/announcements-events/coronavirus.