Student Loan Relief Announced

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ICYMI: Financial relief options have been expanded for District residents who are struggling to pay private education loans due to the coronavirus (COVID-19) public health emergency. The initiative, launched by the District and several states, will provide qualifying District residents with loan forbearance and other financial protections.

Relief options include providing a minimum of 90 days of forbearance; waiving late payment fees; ensuring that no borrower is subject to negative credit reporting; ceasing debt collection lawsuits for 90 days; and working with borrower to enroll them in other borrower assistance programs, such as income-based repayment.

To get details on federal loans and services, visit the US Department of Education’s National Student Loan Data System at nslds.ed.gov, or call Federal Student Aid Information Center at 1-800-433-3243 or 1-800-730-8913 (TDD). Borrowers with private student loans may check the contact information on their monthly billing statements.