Disaster relief for student loan borrowers is currently available for individuals impacted by FEMA-designated disasters, including Hurricane Helene and Hurricane Milton. If you’re having trouble reaching your servicer or your school’s financial aid office, contact an IonTuition counselor through our online portal.
For Borrowers Struggling to Make Payments:
If the hurricanes impacted where you live or work and you cannot make your student loan payments, ask your servicer to pause or reduce your loan payments through a natural disaster forbearance, or a disaster relief administrative forbearance.
What is a Natural Disaster Forbearance?
- Payments can be paused (or reduced)
- Interest will still accrue but doesn’t capitalize
- Good for up to 90 days (initially)
- If you’re behind on your payments, your servicer can apply the forbearance for 30 days into the future to cover any past delinquency
- The natural disaster forbearance period may be extended beyond 90 days, but you need to communicate that to your servicer. Servicers can grant you an additional 30 days of forbearance time at a time for up to a full year.
For Borrowers in the PSLF Program:
You don’t need to request an extension for PSLF payments during a disaster. However, disaster forbearance doesn’t count as a qualifying payment equivalent. You’ll still need to have qualifying employment certified during the month.
For In-School Borrowers Unable to Complete Your Education:
If a disaster disrupts your education, your school can provide an extended “in-school” status, preventing you from entering loan repayment.
For Borrowers Facing Documentation Deadlines:
Sometimes you need to submit certain documents within a specified timeframe. Your servicer can extend your deadline by an additional 15 days if you live in an impacted area. Documents submitted by that revised deadline would be considered on time.
Other Disaster Relief Options for Student Loan Borrowers Impacted by Hurricanes:
Natural disasters can completely change a person’s life. If you have a long-standing income reduction or are receiving public benefits, there are options including income-driven repayment plans or even an economic hardship deferment. The most important thing is to communicate your situation with your servicer or IonTuition to explore sustainable repayment options.
For more information on Natural Disaster Relief, visit studentaid.gov.