How does the coronavirus affect my delinquent/defaulted student loans?
Any borrower who is more than 31 days delinquent as of March 13, 2020, will have an automatic suspension of payments for the duration of the declared emergency. Betsy DeVos, U.S. Education Secretary, announced today that the Education Department has stopped all...
Guidance on Federal Work-Study (FWS) During School Closures
If you’re a college student at an institution that has closed due to COVID-19 disruptions and you’re unable to work your scheduled Federal Work Study (FWS) hours, your institution may continue paying you wages during a closure. Federal law includes a provision...
What to do with Zero Percent Interest Rates
The Department of Education announced that all federally held student loans will have a 0% interest rate for a minimum of 60 days starting from March 13th, 2020. The good news is that it should automatically apply to your loans by the end of the week! However, to be...