A new law passed last month to provide aid to those impacted by the coronavirus provides direct relief to student loan borrowers. AFT has a fantastic resource page with updated information on the Care Act’s provisions, which include:
- Automatic suspension of most federal student loan payments from March 13 through September 30, 2020
- Zero percent interest on federal student loans through September 30, 2020
- Suspension of involuntary collections through September 30, 2020
- Refunds of garnishments since March 13, 2020
The site also includes:
- Link to the summer online student debt management platform, available as a free member benefit to AFT members
- Templates for communicating with servicers on: Making continued payments during the payment suspension and requesting a refund
- Student Borrower Protection Center webinar and documents on IDR and other borrower resources for managing student loan debt