Providing assistance to our customers and employees during the COVID-19 emergency is our top priority at this time. We are closely monitoring the latest updates from government and health organizations and will post any updates that may impact you on this page. Disclaimer: This information is subject to change, based on future guidance from the Department of Education. For more information, please visit StudentAid.gov/Coronavirus. COVID-19 Emergency Information Regarding Department of Education (ED) Owned Student Loans NOTE: If you have commercially held loans, view the options available for your loan type below under COVID-19 Emergency Information Regarding Commercially Held Student Loans. If you are not sure of your loan type, contact your student loan servicer, or visit Finding Your Student Loans for more information. Temporary Interest Rate Reduction The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed by the president on March 27, 2020, in response to the COVID-19 emergency. Under the CARES Act, all federally held student loans (including Parent PLUS loans) received a temporary 0% interest rate effective 03/13/20. On January 20, 2021, the president extended the temporary 0% interest rate through at least September 30, 2021. The 0% interest rate will remain in effect through at least September 30, 2021. COVID-19 Emergency PAYMENT SUSPENSION Under the CARES Act and the recent January 20, 2021 extension, all payments due on federally held student loans will be suspended (stopped) through at least September 30, 2021. Your student loan servicer will be applying a payment suspension through September 30, 2021 on all federally held student loans, with some exceptions. WHAT DOES THIS MEAN FOR YOU? You do not need to request the payment suspension; your student loan servicer will automatically apply it to your account as directed by the U.S. Department of Education. You will not have to make payments on your loans through at least September 30, 2021. No interest will accrue while the 0% interest rate reduction is in effect (March 13, 2020 through at least September 30, 2021). You may request to opt out of the payment suspension (tell your student loan servicer to end it) at any time. If you are enrolled in an automatic debit program, no payments will draft through at least September 30, 2021. You may still choose to make a payment at any time. Since interest is not accruing on your account through at least September 30, 2021, it is a great time to make payments to continue to reduce your principal balance. If you are currently on an Income-Driven Repayment (IDR) plan, you will not have to recertify your IDR plan before the end of the COVID emergency relief period, regardless of whether your recertification date would have happened prior to the end of the relief period. As part of the payment suspension, your recertification date has been pushed out from your original recertification date. You will be notified of your new recertification date before it is time to recertify. Time Spent in PAYMENT SUSPENSION MAY Count Towards Forgiveness Programs Good news! Time spent in the payment suspension as a result of the COVID-19 emergency will still count as qualifying months towards loan forgiveness programs, such as Public Service Loan Forgiveness (PSLF) and Income-Driven Repayment (IDR) forgiveness. Payments you would have made, but are no longer required to make, will count towards IDR forgiveness. Payments you would have made, but are no longer required to make, will count toward PSLF if you have a non-defaulted ED-owned loan and work full-time for a qualifying employer during the payment suspension. You will need to submit a PSLF Certification & Application Form that includes this period to receive credit for your employment during the payment suspension period. For more information about PSLF, please visit StudentAid.gov/PSLF. COVID-19 Emergency Information Regarding Commercially Held Student Loans NOTE: If you are not sure of your loan type, contact your student loan servicer, or visit Finding Your Student Loans for more information. Commercially held student loans do not qualify for the temporary 0% interest rate reduction or suspension of payments under the CARES Act or extension. However, there are other options available to assist you with your student loan payment. There are numerous repayment plans available, including Income-Based Repayment (IBR), as well as deferment and forbearance options to temporarily suspend payments. If you have Federal Family Education Loans (FFEL) and/or Perkins Loans, you may be able to consolidate these loans into a Direct Consolidation Loan, which would allow you to take advantage of the 0% interest waiver and payment suspension currently offered through at least September 30, 2021 on federally held loans. Loan consolidation provides access to additional forgiveness options and repayment plans but may result in the loss of certain benefits so we encourage you to visit https://studentaid.gov/manage-loans/consolidation to learn about the pros and cons of consolidating your FFEL loans. Private Student Loans If you have a private student loan and need assistance, please contact your student loan servicer to speak with a customer service representative. Please visit this page for additional updates.